Here’s another report, this time from The Kelsey Group that documents how local advertisers are adding to digital media as traditional advertising spending declines in the next several years.
In this report they define digital as mobile, internet Yellow Pages, local search, online verticals and classifieds, voice search, e-mail marketing and digital revenues generated from traditional media players. The growth in digital spending during this period goes from $14 billion to $32.1 billion. That’s at a Compounded Annual Growth Rate of 18% for Digital as Traditional declines at -4.5%
The point I would like to make here is that as a brand manager supporting your local dealers what percentage of your support is going to local digital?
My guess is that right now you’re not keeping up with your retailers and consumers.. Now is the time to provide more than just ad slicks to your retailers and shift dollars to things like local search, banner ads, e-mail templates and more.
It’s a good time to look at your co-op policy too.