As marketers, we are all familiar with why advertising works. For magazines, it’s all about your brand…telling your best story & bringing your products to life. Digital does the same but is much more of an engine in driving real conversions.
Now, have you thought about if you add a local strategy?
That becomes the game changer. Brands are rediscovering that localizing their campaigns allows them to deliver offers and creative messaging to their target segments with greater precision and higher return on investment than through national campaigns alone. Today’s consumers have a greater sense of their local communities and expect brands to be more aware of whom they are before they engage further with those brands. Marketers are designing marketing to embrace local consumers in both online and offline touchpoints by melding traditional media like print magazines with digital activations.
In fact, the trend is growing exponentially. Consider this.
- Total local advertising revenue in the U.S. will reach $151.2 billion in 2018, up from $140.9 billion this year—representing a growth rate of 5.2%. (BIA/Kelsey)
- Traditional media will comprise 7 percent of the revenue, with online/digital securing 35.3 percent.
The most important thing to remember is that local advertising can be a competitive weapon for companies of all sizes.
Local activation is becoming a bigger factor both in national brands’ total media spending and in their growth strategies for driving incremental revenue.
Example: Starbucks promoted their VIA instant coffee to affluent professional adults in 12 key Midwest and Southern markets.
Again, it’s about targeting but, it’s also about efficiency and budget.
Example: Amtrak promoted their Northeast Regional by reaching affluent travelers along the Northeast corridor & showcasing the train as an ideal way to get them to their destination.
Local companies look for effective, low-cost advertising solutions, but they also expect to have just one or the other. What most don’t realize is that it is possible to have both.
Example: Brookfield Place promoted the grand opening of the luxury retail, dining and arts center by targeting affluent, fashion-enthusiasts in Manhattan.
Brands invest a great deal in building equity to be an authority. This equity can scale around specific consumer segments and local points of presence where consumers physically go to shop. When a brand already stands out in the consumer’s mind, the brand must “feel local” by adding a layer of “localness” that ties the brand experience to the place the consumer lives. This approach helps drive brand and engagement goals. Brands that study and build strategies with guidance and training around their inherent variability on the local level perform better in terms of consumer engagement, ROI, and ROAS.
To see how companies of all sizes leverage the power of local advertising, check out our case studies.