Monday, November 14, 2011

Social Media Local Advertising On The Rise

It makes sense that local advertising on social media is increasing, especially when you consider that social media marketing is all about relationship marketing.

As humans we tend to build relationships first within our own communities. We reach out to our neighbors because they are the people we see every day and the ones most likely to visit our store.

Local advertising on social media means connecting with the most relevant (to you) people first. You can use targeted advertising on Facebook to reach people of a specific demographic, or geographic zone. Just people between 30-35, within the city limits, let's say. Or, you can reach across state lines, across the country or across the world.

But who is most likely to walk into your shop today? Someone from Spain, or someone from Washington Street?

Local advertising on social media is the fastest growing segment of social media marketing because it makes the most sense. Don't miss you opportunity to take advantage of what are so far, surprisingly low advertising rates on social media. Or, simply create and expand your own social media network with the help of a social media professional you can trust.

Locally focused advertising in social media is expected to grow at annual rate of 33% from $400 million in 2010 to $2.3 billion by 2015, according to a new forecast from BIA/Kelsey. That would make local advertising roughly a third of the total of $8.1 billion in U.S. social media ad revenue that the research firm projects in four years.

Social media ad sales this year will reach $3.7 billion, of which $700 million will be local ad dollars.

BIA/Kelsey released the local social advertising forecast as part of the fall update to its U.S. local media forecast released in April. The firm defines local advertising broadly as spending by national, regional and small and medium-sized businesses on any form of targeted messaging specific to a geographic market.

Within social media, it defines local advertising as money spent on geotargeted ad formats across social networks, but excluding virtual goods and rewards, social gaming, social commerce or social marketing. Think paid media, not earned or owned media.

Click here to read more about local advertising on social media.

No comments: