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Expert: Knowledge pushing local ad growth
According to recent forecasts from BIA/Kelsey Group the local ad space, including mobile, will see significant growth over the next four years. By some accounts these local ad revenues will increase between 20% and 33% over the time period. One experts explains what is pushing this spending.
More and more brands are employing localized ad tactics to reach consumers in a personalized way that only mobile devices uniquely provide. The on-the-go media consumption on smartphones makes it easy for brands to recognize consumer purchase intent through click-to-call, click-to-map and similar location-specific activities.
"Mobile was a breakout year across the majority of our publisher partners in 2013. Many of them saw mobile traffic on their own sites and apps pass the 50% mark. We continue to witness huge gains on local mobile revenue due to the development of a variety of technology such as Google's Enhanced Campaigns for SEM and extremely accurate hyper-local mobile display targeting," said Katie Risch, SVP of Publisher Development, Centro. "Looking ahead at other opportunities the BIA/Kelsey report mentioned (adoption of Facebook Sponsored Stories, native advertising, etc.) we don't see any reason for local mobile advertising to slow down any time soon."
What is pushing the growth in spending? Simply put: education. According to Risch SMBs are becoming smarter about new media formats like social and mobile, but more than that they are doing their overall research into digital initiatives.
"The SMB owner has increased his/her digital IQ, but is also hungry for a more streamlined way to execute local digital media campaigns. These are furniture store owners, restaurant managers, and shop owners who have businesses to run, and don't necessarily have the time to meet with and vet dozens of vendors to execute a digital marketing campaign. We expect to see more consolidation of digital solution providers in the local space, as a result," said Risch.
And it isn't just small businesses who are taking advantage of digital initiatives - national and regional brands are using more localized targeting to reach consumers and stay ahead of their competition.
More from Katie and Centro later this week, including how brands can better use audience data to connect and engage.
Image via Shutterstock
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