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BizReport : Advertising : January 21, 2008
Local online advertising growth predicted
Local online advertising is predicted to grow at a faster rate than online advertising in general, as newspapers and directories show increasing interest.
In a report titled “U.S. Local Online Advertising Forecast, 2007 to 2012”, JupiterResearch analysts predict that local online advertising will grow at a compound annual growth rate (CAGR) of 13 percent in the next five years, compared to online advertising as a whole at 12 percent, to $8.9 billion. Local search accounts for $2.5 billion of that figure.
Search, local banners, classifieds and video are classed as local advertising.
Fuelling the growth is the improvement in performance of local search by major search engines, says JupiterResearch, coupled with the increasing interest from directory services such as Yellow Pages and newspapers.
Local search and display ads remain the key drivers with CAGR’s of 16 percent and 18 percent respectively.
Tags: display ads, local advertising, local search, newspapers, online advertising
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This prediction is on trend as local business owners are increasingly interested in staying competitive by being found by the right customers online. Those who follow the profitable buyers will succeed. Of primary concern for the business owners are relevency, affordability, and ROI.
This trend mirrors the experience at BringBuyers.com, a leading local internet marketing agency that helps small and medium sized companies take advantage of the internet to connect with ready to buy customers.
Local data and case studies are available if you want to get the details about this JupiterResearch prediction at BringBuyers.com -- Local Online Advertising