BIA Estimates Local Broadcast TV Ad Revenues to Top $23.8 Billion in 2024, Bolstered by Political and Increased Auto and Legal Ad Spending
BIA CEO Addresses Television’s Share of the Local Advertising Marketplace for Key Ad Spending Verticals…
CHANTILLY, Va. and HERNDON, Va. (March 12, 2014) – A new report by BIA/Kelsey and Surefire Social highlights opportunities for brands to effectively market across their local affiliate networks (franchisees, dealers, contractors and agents) and examines the related challenges that must be addressed. “Succeeding in National to Local Marketing with a Networked Approach” reveals multi-location businesses see local marketing solutions as important, and are investing aggressively in digital platforms and channels to realize growth.
BIA/Kelsey’s U.S. Local Media Forecast projects locally targeted media and marketing spending by national businesses (brands, franchises, dealer/manufacturer networks and other multi-location enterprises) will grow from $45 billion in 2014 to $53 billion in 2017, representing more than one-third of the total local advertising market. Nearly two-thirds of national brands declare that they currently invest in local marketing.
“Brands realize customer relationships are forged locally – in local geographies and local stores,” said Jed Williams, VP, consulting and senior analyst BIA/Kelsey. “As a result, they’re quickly mobilizing corporate-to-local strategies to connect with these customers where they are.”
According to BIA/Kelsey’s Local Commerce Monitor™ (CCM) study, three of the top five (and 12 of the top 20) channels used by franchises for local advertising and/or promotions are digital. Among franchise businesses surveyed, 57.9 percent said they use a Facebook page for local promotions, 37.9 percent use Google (any Google site), and 36.8 percent use email marketing.
“We’ve been hearing from national brands about their local marketing challenges for years,” said Chris Marentis, Surefire Social CEO. “It’s imperative that national brands can predictably create a deep presence in their local markets that generates clear ROI.”
The report spotlights a number of key challenges that businesses face while optimizing their digital local marketing strategies. These include:
“Succeeding in National to Local Marketing with a Networked Approach” is available as a free download: http://www.biakelsey.com/Research-and-Analysis/Reports/Sponsored-Research/National-to-local-marketing.asp.
BIA/Kelsey and Surefire Social will present insights from the report during a webinar on Tuesday, March 25. Webinar details and online registration for “Harnessing the Power of Your Network for National-to-Local Marketing Success” are available at https://www1.gotomeeting.com/register/156560009.
Surefire Social delivers powerful enterprise SaaS marketing solutions for national brands that want to drive visibility and sales for local dealers and franchises. By providing a personal, coaching-centric approach at the local level, Surefire Social increases visibility through coordinated national and hyper-local search, retargeting, social and mobile marketing programs that deliver quality leads. For more information, visit surefiresocial.com.
BIA/Kelsey advises companies in the local media space through consulting and valuation services, research and forecasts, Custom Advisory Services and conferences. Since 1983 BIA/Kelsey has been a resource to the media, mobile advertising, telecommunications, Yellow Pages and electronic directory markets, as well as to government agencies, law firms and investment companies looking to understand trends and revenue drivers. BIA/Kelsey’s annual conferences draw executives from across industries seeking expert guidance on how companies are finding innovative ways to grow. Additional information is available at http://www.biakelsey.com, on the company’s Local Media Watch blog, Twitter (http://twitter.com/BIAKelsey) and Facebook (http://www.facebook.com/biakelsey). Stay connected by subscribing to the firm’s bi-monthly newsletter.
BIA/Kelsey sponsored research is commissioned by key industry players to objectively examine key industry trends. The sponsored research is produced independently of BIA/Kelsey’s editorial content, which is served to its Custom Advisory Services clients. For more information on our sponsored research, email email@example.com.