VIRGINIA BUSINESS 2013 Multimedia Audience Survey
Virginia Business. It works.
What is Virginia Business?
² Since 1986, Virginia’s source for business intelligence ² Monthly glossy magazines: Ø Virginia Business (statewide) Ø Roanoke Business (Roanoke/Blacksburg/New River Valley)
² Digital Products Ø Ø Ø Ø
virginiabusiness.com Daily e-News Weekly CRE-Intel (commercial real estate) Digital editions (iPad, Android, Kindle)
² Event Opportunities Ø Ø Ø Ø
Best Places to Work in Virginia THE BIG BALL CFO Awards Virginia Business Political Roundtable
Value proposi,on: high-‐level audience engagement May 2013
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Who is GfK MRI?
² For more than 30 years, GfK MRI (formerly known as Mediamark Research & Intelligence) has been a dominant voice in media and consumer research in the United States ² GfK MRI's Survey of the American Consumer™ is the primary source of audience data for the U.S. consumer magazine industry ² Similar to Nielsen for television, Scarborough for newspapers and Arbitron for radio, GfK MRI’s nationallysyndicated consumer magazine study is used by all major national media buyers and advertising agencies in the U.S.
For magazines, GfK MRI is the best in class research company. May 2013
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Survey Methodology
May 2013
Survey Period:
February 7, 2013 through March 5, 2013
Survey Method:
An emailed invitation to take an online survey was sent to 10,004 Virginia Business subscribers
Respondent Incentives:
Grand prize: a two night weekend golf package with accommodations and golf at The Boar’s Head in Charlottesville, VA. Four second place prizes: $50 Amazon gift cards. Â
Sample Selection:
The 10,004 subscribers receiving the emailed invitation represented approximately one-third of all subscribers
Completion:
922 completed surveys were received
Response Rate:
9.2 percent
Standard Error:
At the 95 percent confidence level, +/(-) 3.3 percent
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The GfK MRI index
Certain data within this survey includes an “GfK MRI Index.” These scores are computed in comparison to GfK MRI’s national Survey of the American Consumer. For example, 94.0% of Virginia Business’ subscribers stayed at a hotel or motel in the last 12 months while 48.5% of GfK MRI U.S. Adults have done so. (94.0 ÷ 48.5) X 100 = 194. An index of 100 indicates no difference between the respondents and U.S. Adults. An index of 194 means the incidence of staying in a hotel in the last 12 months among Virginia Business’ subscribers is 94% greater than that of all U.S. Adults. Data from the GfK MRI Spring 2012 Syndicated Study was used to calculate all indices. May 2013
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Targeted and Engaged
TARGETED AND ENGAGED
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Audience Engagement Q On the average, out of four issues that are published, how many issues of Virginia Business do you read or look into?
85%
4 of 4
3 of 4
9%
2 of 4
On a cumulative basis, the average issue’s readership is 94 percent! Source: GfK MRI - 2013 Virginia Business Audience Study
May 2013
1 of 4
4% 1%
0%
20% 40% 60% 80% 100%
2013 Audience Survey
n = 922
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Who reads Virginia Business? GfK MRI
Q Are you any of the following for your company?
Index
Chairman/CEO Owner/Partner President C-‐suite posi4ons
6%
967 210
18%
14% 55%
C-‐Suite or higher (net) Vice President Other posi4ons 0%
910
12% 33%
20% 40% 60% 80% 100% n = 922
Source: GfK MRI - 2013 Virginia Business Audience Study
May 2013
860
23%
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Company Size Q What are the approximate gross annual sales Q How many employees are there in your or revenues of your entire company, including entire company, including all plants, all plants, branches, divisions and subsidiaries? branches and subsidiaries? GfK MRI Index
$100 million or more
$10 to $99 million
1,000 or more
16%
500 to 999
20%
$1 to $10 million
31%
Less than $1 million
33%
193
18%
25 to 99
17%
Less than 25
235 225
45%
200
0% 20% 40% 60% 80% 100% n = 879
n = 879
Source: GfK MRI - 2013 Virginia Business Audience Study
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5%
100 to 499
0% 20% 40% 60% 80% 100% May 2013
15%
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Demographics
DEMOGRAPHICS
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Upscale demographics Virginia Business Subscribers
GfK MRI U.S. Adults
58
43
75% / 25%
48% / 52%
155 / 49
Married
83%
64%
129
Graduated 4-‐year college or more
80%
33%
239
Post Graduate Degree
36%
12%
414
Own home
95%
70%
310
$447.2
$249.6
Own other proper4es
56%
Investment real estate
30%
4%
759
Vaca4on/weekend home
22%
4%
574
$160.3
$69.6
$1,548.5
$324.0
Mean age (in years) Male / Female
Mean home value (000s)
Median HHI (000s) Avg. Net Worth (000s)
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Source: GfK MRI - 2013 Virginia Business Audience Study
GfK MRI Index
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Frequent Travelers
FREQUENT TRAVELERS
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Hotel Stays Q Have you personally stayed at a hotel or motel for business and/or personal/ vacation in the past 12 months?
Q How many nights have you personally spent in a hotel or motel in the past 12 months for business and/or personal/ vacation purposes? GfK MRI
Index
48%
15 or more
Yes 94%
No 6%
11 to 14
5 to 10
MRI Index 194
Less than 5
312
168
15% 26%
79
25
11%
n = 922
0%
Source: GfK MRI - 2013 Virginia Business Audience Study
20% 40% 60% 80% 100% n = 867
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Hotel Preferences Q At which of these hotels have you stayed in the past 12 months?
National Chains 47% 37%
Marrio` Hilton Hampton Inn
35%
Courtyard
35% 23% 15%
Holiday Inn Embassy Suites
444 409 524
Wes,n
304 524
Sheraton
11%
266
Hya`
Wyndham
10%
18%
The Homestead Hotel Roanoke
10%
Williamsburg Lodge
10%
The Greenbrier (W.Va.)
13% 12% 12%
Doubletree
Select Virginia Properties
MRI Index
9%
The Jefferson Hotel
7%
Boar's Head Inn
7%
The Inn at VA Tech
0% 20% 40% 60% 80% 100% n = 867
5%
0% 20% 40% 60% 80% 100% n = 867
Source: GfK MRI - 2013 Virginia Business Audience Study
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Decision Makers
DECISION MAKERS
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Company decision-makers GfK MRI
Index
Q In your present position have you been involved with initiating, recommending, ordering or approving the purchase of any of these for your firm?
57%
IT/telecom
51%
Banking/investments/insurance
50%
Mee,ngs/travel
33%
Copiers/office supplies
34%
Office furniture Consul,ng
26%
Real estate
20%
Freight/express
18%
0%
397 746 523 492 460 686 1244 375
20% 40% 60% 80% 100% n = 879
Source: GfK MRI - 2013 Virginia Business Audience Study
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Off-site meetings Q Does your company plan to hold any off-site meetings in the next 12 months?
Q Approximately how many off-site meetings does your company plan to hold in the next 12 months? 7 or more
16%
5 to 6
Yes 49%
No 51%
10%
3 to 4
24%
Two
27%
One
23% 0%
n = 879
20%
40%
60%
n = 434
Source: GfK MRI - 2013 Virginia Business Audience Study
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Economic development Q Does your company plan to add satellite offices, expand its current physical plant and/or move to a new location within the next two years?
Yes 26%
No 74%
Q Which of the following region(s) of Virginia will your company consider as an option for a future location? VA is an op4on (net) NOVA Richmond Hampton Roads Roanoke/Blacksburg Southern VA CharloZesville SWVA Shenandoah Valley VA not an op4on Don't know
26% 25% 21% 12% 8% 7% 7% 6% 7% 20%
73%
0% 20% 40% 60% 80% 100% n = 879
n = 229
Source: GfK MRI - 2013 Virginia Business Audience Study
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Virginia-educated Q Which of the following colleges and/or universities in Virginia have you attended for a degree program? VA Tech 12%
UVA 10%
None of these 39%
None of these 67%
UVA 9% VA Community Colleges 4%
VCU 8%
Other Private Other VA Colleges Public Community JMU 4% 4% Colleges Colleges 5%
Q Which of the following colleges and/or universities in Virginia have you attended for executive education?
3%
Univ. of Richmond 6% ODU 5% William and Mary 4%
VCU 3%
12 Other VA Colleges 3%
VA Tech 3% Univ.of George William ODU Richmond Mason & Mary 3% 5% 2% 1% n = 902
n = 902 Source: GfK MRI - 2013 Virginia Business Audience Study
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Reader Engagement
READER ENGAGEMENT
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A “must read” publication Q Do you consider Virginia Business a “must read?” Yes 77%
No 23%
n = 922
Source: GfK MRI - 2013 Virginia Business Audience Study
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Are we getting better? Q Compared to one year ago, would you say that the content of Virginia Business has gotten better, worse or stayed the same?
2%
9%
35% 51%
n = 922
Source: GfK MRI - 2013 Virginia Business Audience Study
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Advertiser perception
Q Are you more likely to regard a company as a serious player in the marketplace after seeing its ad in Virginia Business? Yes 82% No 18%
n = 922
Source: GfK MRI - 2013 Virginia Business Audience Study
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Advertising engagement
Q Which of the following actions have you taken in the last 12 month as a result of reading Virginia Business?
53%
Took adver,sing-‐related ac,ons (net)
41%
Visited an adver,sers Web site
17%
Visited a specific hotel/resport/spa
10%
Requested informa,on from an adver,ser
8%
Bought/ordered a product/service from an adver,ser Returned a phone call from an adver,sed company Scheduled an appointment with a company 0%
2% 4% 10%
20%
30%
40%
50%
60%
n = 922 Source: GfK MRI - 2013 Virginia Business Audience Study
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Competitive Readership
COMPETITVE READERSHIP
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Readership of other publications Q Which of these publications do you read regularly, that is, at least 3 out of every 4 issues?
Richmond Times-‐Dispatch Wall Street Journal Washinton Post Virginian-‐Pilot USA Today Inside Business Richmond Magazine Virginia Living Business Week Roanoke Times Forbes Washington Business Journal Fortune Roanoke Business Newport News Daily Press
0%
32% 28% 21% 18% 15% 16% 15% 14% 14% 14% 11% 9% 9% 8% 8% 20%
40%
60%
80% 100%
n = 922
Three or more of the last four issues of Virginia Business were read by 94 percent of this audience! Source: GfK MRI - 2013 Virginia Business Audience Study
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Roanoke Business
ROANOKE BUSINESS
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Roanoke Business
² Launched in July 2012 ² Serving the Roanoke/Blacksburg/New River Valley Region. ² 10,000 circulation, poly-bagged with Virginia Business and also free multiple distribution points across the market ² Major advertisers: Ø Ø Ø Ø Ø Ø Ø Ø Ø Ø
May 2013
Virginia Tech Valley Bank Gentry, Locke, Rakes & Moore Virginia Western Community College Hometown Bank Woods Rodgers Radford University Carilion Clinic Poe & Cronk Thalhimer
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Roanoke Business Ratings
Q How do you rate Roanoke Business magazine overall compared to other publications you read?
One of my favorites
47%
94% 99%
It is an enjoyable read I look forward reading every issue
31%
Good
Poor
Is be`er than other magazines of its type
18%
Very good
Average
Q Thinking specifically about Roanoke Business magazine, please indicate how much you agree with each of the following statements? --AGREE COMPLETELY/SOMEWHAT AGREE
94%
When reading my copy, I usually think of someone I can pass it along to
1% 3%
0% 20% 40% 60% 80% 100% n = 72
n = 72
Source: GfK MRI - 2013 Virginia Business Audience Study
97%
I trust it
0% 20% 40% 60% 80% 100% May 2013
88%
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Audience Demographics
Total Audience
Roanoke Business
Median Age
58
61
Male/Female
75%/25%
76%/24%
Bachelor’s Degree +
80%
83%
Married
83%
86%
Homeowner
95%
93%
Median Home Value (000s)
$417.9
$342.3
Median Hsld. Income (000s)
$160.3
$137.5
$1,548.5
$1,306.6
Avg. Net Worth (000s) Source: GfK MRI - 2013 Virginia Business Audience Study
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Digital Audience
DIGITAL AUDIENCE
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Virginia Business Digital Products
² Websites: Ø virginiabusiness.com Ø roanoke-business.com Ø vabusinessmedia.com
² e-Newsletters: Ø Virginia Business e-News (daily) Ø CRE-Intel (weekly)
² Digital Editions: Ø iPad Ø Android Ø Kindle
² Multimedia: Ø Videos/slideshows Ø Facebook Ø Twitter May 2013
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Interest in Digital Products
Q Which of the following VIRGINIA BUSINESS digital products interest you most?
64%
Any of these (net)
30%
Website
20%
Digital version
35%
e-‐Newsle`ers Videos/slideshows
4%
Facebook page
4%
Twi`er feed
2%
None of these 0%
36% 20% 40% 60% 80% 100% n = 922
Source: GfK MRI - 2013 Virginia Business Audience Study
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Frequency of use
Q How often do you visit VIRGINIA BUSINESS’ digital products? ONCE A MONTH OR MORE
53%
Any of these (net)
43%
Digital version
23%
Website e-‐Newsle`ers
9%
Videos/slideshows
3%
Twi`er page
3%
Facebook page
3%
0%
20% 40% 60% 80% 100% n = 592
Source: GfK MRI - 2013 Virginia Business Audience Study
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Digital Metrics ² virginiabusiness.com Ø 61,244 to 88,600 monthly pageviews Ø 24,789 to 58,281 monthly visits Ø 23,612 to 35,479 monthly unique visitors
² e-News Ø 7,000+ subscribers
² CRE-Intel Ø 1,400+ subscribers
² Digital Edition Ø 20-50 iPad application downloads per month
² Social media Ø 2,000+ twitter followers Ø 300+ Facebook “likes”
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virginiabusiness.com ² Pageviews and unique visitors are consistent on a monthly basis, varying somewhat based on site content. ² Significant growth in Mar ‘13 due to the 50 Most Influential Virginians. 100,000 88,600
75,000 71,744
50,000 25,000
61,280
29,059
65,819
25,093 25,552
73,420 63,169
30,008
69,050
61,244
68,552
75,944 75,840 61,835 58,898
30,322 29,273 24,178 26,883 23,612 26,611 24,698 24,789
35,479
-‐
Pageviews
Unique Visitors
Source: Google Analytics
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Audience Demographics
Total Audience
Digital Audience
Median Age
58
57
Male/Female
75%/25%
70%/30%
Bachelor’s Degree +
80%
82%
Married
83%
81%
Homeowner
95%
92%
Median Home Value (000s)
$417.9
$396.4
Median Hsld. Income (000s)
$160.3
$164.9
$1,548.5
$1,432.3
Avg. Net Worth (000s) Source: GfK MRI - 2013 Virginia Business Audience Study
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Website audience Q Have you ever visited Virginia Business’ website, www.virginiabusiness.com?
Q How often do you visit Virginia Business’ website in an average month? Less than once a month
Yes 44%
No 56%
Once a month
14%
A few ,mes a month
15%
Once a week or more
8%
0% 20% 40% 60% 80% 100%
n = 922 Source: GfK MRI - 2013 Virginia Business Audience Study
May 2013
63%
n =356
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e-News audience Q Which of the following actions have you taken in the past 12 months? – read Virginia Business e-News?
Q On average, how often do you read or look into Virginia Business’ e-News? Daily
Yes 18%
No 82%
Several ,mes a week
18%
Once a week
18%
Once a month or less
11%
0% 20% 40% 60% 80% 100%
n = 922 Source: GfK MRI - 2013 Virginia Business Audience Study
May 2013
54%
n =200
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CRE-Intel audience Q Which of the following actions have Q On average, how often do you you taken in the past 12 months? read or look into Virginia Business’ – read Virginia Business CRE-Intel? CRE-Intel? Yes 6%
72%
Once a week
2-‐3 ,mes a month
Once a month or less
No 94%
7%
0% 20% 40% 60% 80% 100%
n = 922 Source: GfK MRI - 2013 Virginia Business Audience Study
May 2013
21%
n =58
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Total Multimedia Audience
TOTAL MULTIMEDIA AUDIENCE
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Total print readership
28,730
controlled circula,on
x 94% percent who read monthly 27,006
average monthly audience
x 2.8
average readers per copy
75,617
total monthly readership
Sources: BPA Worldwide - Business Publication Audit, GfK MRI 2013 Virginia Business Audience Study
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Multimedia audience (net) Online Unique Visitors e-News/ 29,273* CRE-Intel ??
* Feb 2013 during survey period
Readers who visited in the past 30 days 10,831
Total monthly audience = 94,059+
Print Readers 75,617
Sources: BPA Worldwide - Business Publication Audit, GfK MRI 2013 Virginia Business Audience Study, Google Analytics
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Summary of Findings
SUMMARY OF FINDINGS
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Summary of findings ² ² ² ² ² ² ² ² ²
Virginia Business has highly-‐engaged readers who respect the magazine and respond to its adver,sing. 85 percent of subscribers say they have read all four of the last four issues. The average issue of is read by 94 percent of our subscribers. Virginia Business readers are affluent and influen,al business decision-‐makers. Fipy-‐five percent of our readers hold C-‐suite or higher posi,ons at their companies. 26 percent of readers say their companies will expand or relocate within the next two years; 73 percent say a Virginia loca,on is an op,on. Virginia Business reaches heavy travelers and upscale consumers. 53 percent of readers report having taken ac,on on adver,sing within the past 12 months. Compared to other publica,ons, Virginia Business has a significantly higher frequency of reading. Early response to Roanoke Business is very posi,ve. Interest in digital products is high. Over half of Virginia Business’ print audience has visited one or more of its digital products in the last month.
² Our unduplicated net audience in print and online approaches 100,000 readers/visitors each month.
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Marketing Partners
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Virginia Business. It works.
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