Broadsheet Survey Highlights Trade Media's Critical Role in Business Growth and Industry Influence
July 16 2024 - 10:00AM
Leading B2B executives and decision-makers rely on coverage in
industry-focused trade media to drive sales and establish a
meaningful and competitive brand position - that’s according to a
new survey from
Broadsheet Communications, a
full-service PR firm that works with global technology and media
companies.
The survey results included in The
Broadsheet Q2 2024 State of Media Report found that the vast
majority of executives turn to trade media to inform major purchase
decisions and rely on a presence in trade media to drive their
sales. The survey of over 150 industry leaders, including C-level
executives, managing directors, and senior vice presidents,
demonstrates trade media's essential role in the business
environment.
Faced with an overwhelming amount of
content to sift through, the survey found that trade media is the
most reliable source of information - more so than general business
news. Respondents overwhelmingly agree (83%) that trade
publications are crucial in helping them perform their jobs
effectively, and 87% of respondents use trade media to gain
competitive intelligence, underscoring its role in strategic
planning.
"The Broadsheet State of Media Report
clearly illustrates that trade media is an indispensable resource
for business leaders aiming to enhance understanding, establish
brand presence, grow sales, and carve out a competitive edge," said
Ben Billingsley, Founder and CEO of Broadsheet. "The overwhelming
trust and reliance on trade publications make them critical tools
for thriving in competitive business environments."
Key highlights from the report
include:
- Trade Media Impacts
Sales: 82% of respondents state that trade media directly
influences enterprise purchase decisions.
- Trade media drives growth: 67% of executives
surveyed confirm that having a presence in trade media directly
influences sales and revenue growth, with one in three stating it
substantially impacts their sales figures.
- Trade media establishes brand equity: 59% of
respondents say that presence in trade media directly influences
their brand’s overall market position and identity.
- Trade media informs the market: Nearly 70% of
respondents identify trade publications and newsletters as their
primary source for industry news.
- Trade media is essential
for competitive intelligence: 87% of respondents use trade
media to gain competitive intelligence, underscoring its crucial
role in strategic planning.
The majority of executives surveyed
are willing to pay for access to trade media and maintain at least
one corporate subscription. Nearly half of executives have personal
subscriptions, highlighting their commitment to staying informed
and competitive.
The Broadsheet Q2 State of Media
Report also offers executives recommendations for best-leveraging
trade media for their marketing and business development efforts.
Some of the strategic recommendations include:
- Prioritize
Engagement: Intensify interactions with trade
publications, both as readers and contributors, to enhance industry
presence and influence.
- Integrated Marketing Plans: Utilize trade
publications for public relations and thought leadership, combined
with content marketing, advertising, and events.
- Form Lasting Media Relationships: Strengthen
relationships with trade media editors and reporters to enhance
coverage and influence industry narratives.
- Sponsor Events and Content: Partner with trade
publications for sponsored events, webinars, and white papers to
diversify revenue streams and enhance industry presence.
- Utilize Insights for Strategy: Integrate
insights from trade media into business strategy and competitive
analysis to maintain a competitive edge.
- Encourage
Subscriptions: Provide teams with corporate subscriptions
to relevant trade publications and encourage personal subscriptions
to deepen expertise and engagement.
For more information or to download
the full report, please visit Broadsheet Communications’
website.
About BroadsheetBroadsheet Communications is a full-service PR
and marketing agency based in New York. We work with leading media
and technology brands to increase valuations, drive sales, and
fortify trust. Our interconnected approach combines traditional PR
with data and insights to inform audiences, influence buying
decisions, and deliver measurable ROI.
Media Contact:Michael TilusBroadsheet
Communicationsmichael@broadsheetcomms.com