Why is it that some performing arts program book advertisers renew their advertising year after year?
Let’s be clear, performing arts program book advertising is not for every type of business. But for the right business, performing arts program book advertising could be the best kept secret out there!
You see, with the gazillions of advertising options out there today for a business, isn’t the main goal for a business to stand out from the crowd and grab that potential customers attention? Simply put, advertising is a lead generator for a company. So if a business wants to get the biggest bang for their buck, it would seem logical for them to put their advertising dollars where they won’t be lost in all of the other clutter.
You hear about great managers all the time where if they can’t be one of the top two companies in their space, they drop that line. Jack Welch, when at GE, was a classic example of this. “Be number one or number two and keep redefining your market” was his philosophy.
And this is a great way to look at advertising. Especially performing arts program book advertising. It is very easy for the right type of business to be that number one or number two advertiser in a program book. And it is very easy for the right type of business to stand out amongst the patrons as a market leader.
I keep referring to “the right type of business” because performing arts patrons are affluent, highly educated and community leaders. Over 35% of these patrons earn over $100,000 annually, compared to less than 6% of the entire U.S. population. Over 38% of these performing arts patrons hold a master’s or doctoral degree, compared to less than 10% of the entire population. And over 79% of these patrons are 35 years of age or older. Representing over 68% of the U.S. population alone.
So if a business caters to this demographic, and wants to dominate this demographic, it would seem to me that this is the space to be in. But I’m biased.
Or am I? LaPlaca Cohen and AMS Planning & Research conducted a study in February 2011. The survey was done to determine behaviors and motivators regarding cultural participation in the arts across the U.S. Over 4,000 participants in all 50 states responded online with a margin of error of 1.6% at a 95% confidence level.
What they found was that cultural advertising is more compelling than ever—40% of these respondents reported that they were likely to purchase goods or services from companies that support the arts. It was found that 39% remember a logo, 53% think highly of the company, and 50% feel good about doing business with that company. And 61% said they are more likely to purchase from these companies.
A perfect living, breathing example of “the right business” knowing the power of performing arts program book advertising is one of our now long-time program book advertisers.
In one of our larger markets, we have a successful wealth management company that is the first to renew their advertising year after year. They happen to advertise in multiple contiguous markets of ours. Don’t get me wrong, before they became a performing arts program book advertiser, it was a very long lead time to finally convince them that performing arts program book advertising works. But once they saw how their business could dominate in the program books, and once they saw the results, they were hooked!
Now you know what performing arts program book advertisers know. Good selling!