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Print advertising is far from dead and is still worth investing heavily in, according to one Ray White principal who has a vendor willing to pay $36,000 for one print ad.
Matt Lancashire of Ray White New Farm in Queensland confirmed to Real Estate Business that his agency recently launched a News Corp marketing campaign for a luxurious listing with a week-long, four-page wrap-around advert in the Courier Mail.
According to Joel Hudson, manager of real estate at News Corp in Queensland, the advertisement marks “the first individual residential property wrap done in News Corps' history”.
Mr Lancashire said he's a firm advocate for print marketing in newspapers and believes it has a bright future.
"I measure my buyer enquiry and it’s those buyers that search the paper and then do additional research online that are really in the market. They’re what we call 'qualified' buyers – they’re ready, they’re savvy and they’re looking in the Courier Mail,” he said.
The property, located at Bardon in Brisbane, goes to auction in two weeks, and the wrap-around ad seems to already be paying dividends with 69 groups viewing at the first inspection.
Mr Lancashire added his agency had 10 pages of property in the Courier Mail last weekend, at a total spend of $75,000 for the week, while he also confirmed the agency had 160 groups through its properties in the last two weeks.
"This is the value print still has. If you spend big money but get a return on it, you can see it works. If you have print and digital together it’s a lethal combination. But if I had to choose, I’d say I get more buyers through print," he said.
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