2013 Virginia Business Audience Survey

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  virginiabusiness.com Ø  Daily e-News Ø  Weekly CRE-Intel (commercial real estate) Ø  Digital editions (iPad, Android, Kindle)

²  Event Opportunities Ø  Best Places to Work in Virginia Ø  THE BIG BALL Ø  CFO Awards Ø  Virginia Business Political Roundtable

May 2013 2

Value proposi,on: high-‐level audience engagement

2013 Audience Survey

May 2013 3

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 nationally-syndicated 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 4

Survey Methodology

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.

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


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 5 2013 Audience Survey

TARGETED AND ENGAGED Targeted and Engaged


May 2013 7

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?

1%

4%

9%

85%

0% 20% 40% 60% 80% 100%

1 of 4

2 of 4

3 of 4

4 of 4

Source: GfK MRI - 2013 Virginia Business Audience Study

n = 922

On a cumulative basis, the average issue’s readership

is 94 percent!


May 2013 8

Who reads Virginia Business?

Q  Are you any of the following for your company?

33%

12%

55%

14%

23%

18%

6%

0% 20% 40% 60% 80% 100%

Other posi4ons

Vice President

C-‐Suite or higher (net)

C-‐suite posi4ons

President

Owner/Partner

Chairman/CEO

910

860

210

967

GfK MRI Index

n = 922 Source: GfK MRI - 2013 Virginia Business Audience Study


May 2013 9

Company Size

Q  How many employees are there in your entire company, including all plants, branches and subsidiaries?

Q  What are the approximate gross annual sales or revenues of your entire company, including all plants, branches, divisions and subsidiaries?

33%

31%

20%

16%

0% 20% 40% 60% 80% 100%

Less than $1 million

$1 to $10 million

$10 to $99 million

$100 million or more

n = 879

45%

17%

18%

5%

15%

0% 20% 40% 60% 80% 100%

Less than 25

25 to 99

100 to 499

500 to 999

1,000 or more

n = 879


200

235

193

51

GfK MRI Index

225


DEMOGRAPHICS Demographics


Upscale demographics

Virginia Business

Subscribers

GfK MRI U.S. Adults

GfK MRI Index

Mean age (in years) 58 43 Male / Female 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 Mean home value (000s) $447.2 $249.6 Own other proper4es 56% Investment real estate 30% 4% 759 Vaca4on/weekend home 22% 4% 574 Median HHI (000s) $160.3 $69.6 Avg. Net Worth (000s) $1,548.5 $324.0

May 2013 11 Source: GfK MRI - 2013 Virginia Business Audience Study


FREQUENT TRAVELERS Frequent Travelers


May 2013 13

Hotel Stays

Q  Have you personally stayed at a hotel or motel for business and/or personal/vacation in the past 12 months?

Yes 94%

No 6%

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?

n = 922

n = 867

MRI Index 194


11%

26%

15%

48%

0% 20% 40% 60% 80% 100%

Less than 5

5 to 10

11 to 14

15 or more

25

168

312

GfK MRI Index

79


May 2013 14

Hotel Preferences

Q  At which of these hotels have you stayed in the past 12 months?

n = 867 n = 867

National Chains Select Virginia Properties

5%

7%

7%

9%

10%

10%

18%

0% 20% 40% 60% 80% 100%

The Inn at VA Tech

Boar's Head Inn

The Jefferson Hotel

The Greenbrier (W.Va.)

Williamsburg Lodge

Hotel Roanoke

The Homestead

10% 11% 12% 12% 13% 15% 23%

35% 35% 37%

47%

0% 20% 40% 60% 80% 100%

Wyndham

Sheraton

Wes,n

Hya`

Doubletree

Embassy Suites

Holiday Inn

Courtyard

Hampton Inn

Hilton

Marrio`


266

524

409

MRI Index

524

304

444


DECISION MAKERS Decision Makers


May 2013 16

Company decision-makers

18%

20%

26%

34%

33%

50%

51%

57%

0% 20% 40% 60% 80% 100%

Freight/express

Real estate

Consul,ng

Office furniture

Copiers/office supplies

Mee,ngs/travel

Banking/investments/insurance

IT/telecom

375

1244

686

460

492

523

746

397

GfK MRI Index

n = 879

Q  In your present position have you been involved with initiating, recommending, ordering or approving the purchase of any of these for your firm?



May 2013 17

Off-site meetings

Q  Does your company plan to hold any off-site meetings in the next 12 months?

n = 879

23%

27%

24%

10%

16%

0% 20% 40% 60%

One

Two

3 to 4

5 to 6

7 or more

n = 434

Yes 49%

No 51%

Q  Approximately how many off-site meetings does your company plan to hold in the next 12 months?



May 2013 18

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?

Q  Which of the following region(s) of Virginia will your company consider as an option for a future location?

n = 879 n = 229

20% 7% 6% 7% 7% 8% 12% 21% 25% 26%

73%

0% 20% 40% 60% 80% 100%

Don't know VA not an op4on

Shenandoah Valley SWVA

CharloZesville Southern VA

Roanoke/Blacksburg Hampton Roads

Richmond NOVA

VA is an op4on (net)

Yes 26% No

74%



May 2013 19

Virginia-educated

UVA 9%

VA Community Colleges

4%

VCU 3%

Univ.of Richmond

5%

VA Tech 3%

ODU 3%

William & Mary 2%

George Mason 1%

12 Other VA Colleges

3%

None of these 67%

Q  Which of the following colleges and/or universities in Virginia have you attended for executive education?

VA Tech 12%

UVA 10%

VCU 8%

Univ. of Richmond

6% ODU 5%

William and Mary 4%

JMU 4%

VA Community Colleges

3%

Other Public Colleges

5%

Other Private Colleges

4%

None of these 39%

n = 902 n = 902

Q  Which of the following colleges and/or universities in Virginia have you attended for a degree program?



READER ENGAGEMENT Reader Engagement


May 2013 21

A “must read” publication

Q  Do you consider Virginia Business a “must read?”

Yes 77%

No 23%

n = 922



May 2013 22

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?

9%

35%

51%

2%

n = 922



May 2013 23

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



May 2013 24

Advertising engagement

4%

2%

8%

10%

17%

41%

53%

0% 10% 20% 30% 40% 50% 60%

Scheduled an appointment with a company

Returned a phone call from an adver,sed company

Bought/ordered a product/service from an adver,ser

Requested informa,on from an adver,ser

Visited a specific hotel/resport/spa

Visited an adver,sers Web site

Took adver,sing-‐related ac,ons (net)

n = 922


Q  Which of the following actions have you taken in the last 12 month as a result of reading Virginia Business?


COMPETITVE READERSHIP Competitive Readership


May 2013 26

Readership of other publications

Q  Which of these publications do you read regularly, that is, at least 3 out of every 4 issues?

8% 8% 9% 9% 11% 14% 14% 14% 15% 16% 15% 18% 21% 28%

32%

0% 20% 40% 60% 80% 100%

Newport News Daily Press Roanoke Business

Fortune Washington Business Journal

Forbes Roanoke Times Business Week Virginia Living

Richmond Magazine Inside Business

USA Today Virginian-‐Pilot

Washinton Post Wall Street Journal

Richmond Times-‐Dispatch

Three or more of the last four issues of Virginia Business were read by 94 percent of this audience!

n = 922



ROANOKE BUSINESS Roanoke Business


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  Virginia Tech Ø  Valley Bank Ø  Gentry, Locke, Rakes & Moore Ø  Virginia Western Community College Ø  Hometown Bank Ø  Woods Rodgers Ø  Radford University Ø  Carilion Clinic Ø  Poe & Cronk Ø  Thalhimer


Roanoke Business Ratings

May 2013 29

Q  Thinking specifically about Roanoke Business magazine, please indicate how much you agree with each of the following statements?

--AGREE COMPLETELY/SOMEWHAT AGREE

Q  How do you rate Roanoke Business magazine overall compared to other publications you read?

3%

1%

31%

47%

18%

0% 20% 40% 60% 80% 100%

Poor

Average

Good

Very good

One of my favorites

n = 72

97%

88%

94%

99%

94%

0% 20% 40% 60% 80% 100%

I trust it

When reading my copy, I usually think of someone I can

pass it along to

I look forward reading every issue

It is an enjoyable read

Is be`er than other magazines of its type

n = 72



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

Avg. Net Worth (000s) $1,548.5 $1,306.6

May 2013 30



DIGITAL AUDIENCE Digital Audience


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


Interest in Digital Products

36%

2%

4%

4%

35%

20%

30%

64%

0% 20% 40% 60% 80% 100%

None of these

Twi`er feed

Facebook page

Videos/slideshows

e-‐Newsle`ers

Digital version

Website

Any of these (net) Q  Which of the following VIRGINIA BUSINESS digital products interest you most?

May 2013 33


n = 922


Frequency of use

3%

3%

3%

9%

23%

43%

53%

0% 20% 40% 60% 80% 100%

Facebook page

Twi`er page

Videos/slideshows

e-‐Newsle`ers

Website

Digital version

Any of these (net) Q  How often do you visit VIRGINIA BUSINESS’ digital products?

ONCE A MONTH OR MORE

May 2013 34


n = 592


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”


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.

71,744 61,280

65,819 73,420

63,169 69,050

61,244 68,552

61,835 58,898

75,944 75,840

88,600

29,059 25,093 25,552 30,008 24,178 26,883 23,612 26,611 24,698 24,789

30,322 29,273 35,479

-‐

25,000

50,000

75,000

100,000

Pageviews Unique Visitors

May 2013 36

Source: Google Analytics


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

Avg. Net Worth (000s) $1,548.5 $1,432.3

May 2013 37



May 2013 38

Website audience

Q  Have you ever visited Virginia Business’ website, www.virginiabusiness.com?

Yes 44%

No 56%

Q  How often do you visit Virginia Business’ website in an average month?

8%

15%

14%

63%

0% 20% 40% 60% 80% 100%

Once a week or more

A few ,mes a month

Once a month

Less than once a month

n = 922

n =356 Source: GfK MRI - 2013 Virginia Business Audience Study


May 2013 39

e-News audience

Q  Which of the following actions have you taken in the past 12 months? – read Virginia Business e-News?

Yes 18%

No 82%

Q  On average, how often do you read or look into Virginia Business’ e-News?

11%

18%

18%

54%

0% 20% 40% 60% 80% 100%

Once a month or less

Once a week

Several ,mes a week

Daily

n = 922



May 2013 40

CRE-Intel audience

Q  Which of the following actions have you taken in the past 12 months? – read Virginia Business CRE-Intel?

Yes 6%

No 94%

Q  On average, how often do you read or look into Virginia Business’ CRE-Intel?

7%

21%

72%

0% 20% 40% 60% 80% 100%

Once a month or less

2-‐3 ,mes a month

Once a week

n = 922



TOTAL MULTIMEDIA AUDIENCE Total Multimedia Audience


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

May 2013 42

Sources: BPA Worldwide - Business Publication Audit, GfK MRI 2013 Virginia Business Audience Study


May 2013 43

Multimedia audience (net)

Print Readers 75,617

Sources: BPA Worldwide - Business Publication Audit, GfK MRI 2013 Virginia Business Audience Study, Google Analytics

Total monthly audience = 94,059+

Online Unique Visitors

29,273*

* Feb 2013 during survey period

Readers who visited in the past 30 days 10,831

e-News/ CRE-Intel

??


SUMMARY OF FINDINGS Summary of Findings


Summary of findings

²  Virginia Business has highly-‐engaged readers who respect the magazine and respond to its adver,sing.

²  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.

²  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.

²  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.

²  Virginia Business reaches heavy travelers and upscale consumers. ²  53 percent of readers report having taken ac,on on adver,sing within the past

12 months. ²  Compared to other publica,ons, Virginia Business has a significantly higher

frequency of reading. ²  Early response to Roanoke Business is very posi,ve. ²  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.


May 2013 46

Marketing Partners


Virginia Business. It works.


2013 Virginia Business Audience Survey

Documents

Transcript of 2013 Virginia Business Audience Survey