Local Search and Display to Grow 16% and 18% compound for next 5 years
Monday, January 28th, 2008
Jupiter Research released their survey and predictions for local online advertising growth (along with their predictions for online advertising as a whole).
In short, they predict that local is where the battle will have the msot heat. Perhaps it’s because the Yellow Pages publishers and newspaper publishers will have finally caught fire with sales.
Perhaps it’s because the advertisers are demanding to reach the audience that relies on the Internet to find local information.
Here’s a dirty little secret.
Local online advertising is much harder than it looks.
Converting searchers to buyers is a skill that very few traditional publishing companies possess, and fewer know how to monetize.
Advertiser expectation and patience for results from online advertising are difficult to meet because the Internet does not bypass human nature of procrastinating, building trust, qualifying, deciding and taking action.
It’s important for traditional advertisers to NOT abandon their terrestrial publications, rather embrace change as a restaurant owner embraces trends.
Mad Cow disease did not kill the beef industry any more than Yellow Pages bashing will eliminate the value delivered by a high quality directory.
However, Mad Cow did reduce consumption and some consumers forever changed their diets.
Smart publishers will provide a mix of media to deliver customers to their clients. That includes search, display, video and much more.
The growth of local online advertising will not be a zero-sum game at the expense of traditional publications.
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