Study finds audiences are highly engaged and wield decision-making power.
Joan Brehl, Vice President and General Manager
Magazines Canada recently released a new research study of Canadian business publications. The study found that business media content is highly valued and trusted by audiences, regardless of the distribution channel. It also showed that readers of business media are highly engaged, have decision-making power and purchasing influence, and have great confidence in the content of B2B media.
"The central role played by B2B media is not surprising," explained Magazines Canada board chair Scott Jamieson. "For example, it's no surprise that learning about new products and technology is the number one reason business leaders read Canadian business media. However, the increasing number of people involved in B2B purchase decisions was eye-opening, as was the key role played by younger B2B audience members. The massive response rate allows us to really delve into how businesses make buying decisions, where they get the information to support those decisions, and how all of that differs with company size or demographics. Regardless, B2B media in all forms plays a central role."
Magazines Canada is hosting a networking breakfast to share more information about the results of the survey and their implications for the market on October 24 at the Shangri-La Hotel in Toronto. Learn more about this event by emailing firstname.lastname@example.org.
Key Findings from the Research
- Readership engagement: Ninety-nine percent of survey respondents read their B2B magazines, with 86 percent reading their magazines regularly or always, and 70 percent reading all or most of the issues.
- Readership by platform: There is almost an even split here, with 37 percent of survey respondents reading both print and digital copies of their B2B magazines, 34 percent reading digital only, and 29 percent reading print only. This suggests that integrated, multi-platform strategies are key to reaching the total B2B audience.
- Buyers and purchasing influence: Ninety-two percent of survey respondents have purchasing influence, with almost two in three involved in a buy over $250,000 in the last two years. Even in small companies, 45 percent of readers have been involved in a $250,000 buy.
- Decision-makers by platform: Print readers are 49 percent more likely to be the sole or final decision maker. The print magazine audience contains 68 percent more senior management. However, 55 percent of millennials were involved in purchases over $250,000 in the past two years, and they tend to be B2B digital readers.
- Valued content: Ninety-six percent of survey respondents read to learn about new products and services, and 75 percent believe B2B magazines are the best place to read about industry best practices—above colleagues or trade shows.
- Trust and credibility: Ninety-five percent of survey respondents say that B2B magazines are "a trusted voice in the industry," and 85 percent are more likely to investigate a product or service they read about in a magazine. Almost half say B2B magazines are the first place they'd go to learn about a new product.