Local advertising spending will grow, according to local advertising research firm BIA/Kelsey, from $136.2 billion this year to $151.3 billion by the end of 2016. Most of that growth will come from local digital advertising as traditional local advertising will remain flat.
The article further adds,
According to BIA/Kelsey CEO Tom Buono, much of this local digital ad spending growth will be driven by social, mobile and video advertising. Online ad spending will continue to inch ahead, closing the gap with traditional US local ad spending. By 2016, the firm projects, local digital ad spending will account for $38.5 billion, or more than 25% of total local ad spending, up from 16% in 2012.
I think this understates the value of local digital advertising, especially dollars spent on social. The challenge with tracking the value of social is that much of social marketing is free of spending. A local dealer having a Facebook page loaded with good brand and marketing content doesn’t cost your local retailer any money, therefore the growth in spending is zero. The value is great.
As a brand marketer responsible for local advertising you have to think differently than in the past. The cost of taking advantage of social marketing isn’t in the dollars spent on Facebook it is the cost of providing your retailers the tools and content they need to take advantage of social media. And, in convincing your retailers that the time they spend on social is worth their effort.
The best way to accomplish both goals is to add digital adverting tools to your ad builder or your marketing portal. The good news is that the technology is here today to address the new way in which consumers learn about your products.