May 10, 2023
Local Businesses and Benchmarking: How Evolving Attitudes on Main Street Impacted Digital Media & More!
Local businesses learned a lot about marketing from the pandemic. From the rise of digital video to the incorporation of Content Marketing, things changed rapidly in just a couple of years. Not only was there a shift in marketing by existing businesses – there was also a ground swell of brand new businesses entering the market. And where is the first place these newbies advertise? If you are guessing somewhere digitally (rather than any non-digital format) you would be right.
Meanwhile, for media companies, the COVID-19 pandemic helped hasten digital transformation and bring about a tipping point. In 2022, the local media industry’s digital sales revenue grew 25.1%, twice the rate seen in 2021. Revenue soared to $13.3 billion. If lumped into a single category, “locally based digital media” would have more revenue than that of any other type of local media, including TV, radio, outdoor, newspapers, or direct mail.
This session will explore both sides the local marketing coin – local advertisers and local media companies. How the two are affected by each other – and where media companies might be missing the mark – from a local advertiser’s point of view.