In the past, companies typically used mass media (ex: TV, print, radio, etc.) to reach large audiences and there was limited data for digital advertising.
Today, we are in the “age of local,” where marketing wars are digital and local relevance is key for major brands and local businesses.
Follow the Money
- Multi-location brands are spending 25% of their budgets on location-based marketing.
- More than 50% of multi-location brands are using location data to target customers.1
New Balance of Power
- Local businesses are investing in digital, going head-to-head with the national competition.
- Digital ad spend overall surpassed that spent on community-based print and broadcast for the first time in 2017, and this trend is forecast to continue through 20222 (see chart):
Getting to Digital Proficiency
Location is a critical element of digital marketing. Determining the best investments for local coverage is expected to be an increasingly important part of a marketing plan.
Studies:
1LBMA (Location-Based Marketing Association) Global Location Trends Report;
2Borrell Associates
Source:
MediaPost-The Marketing Insider, reported by Lynn Tornabene; LSA (Local Search Association) Insider, reported by Joe Morsello