By: Brittany Barillaro
While national brands see the importance of having local market campaign strategies, many are still resistant to include them as part of their overall marketing plan, even though 50% of marketers believe local marketing
ROI would be higher than that of a national campaign. The main reason cited for not incorporating a localized marketing strategy is measurable ROI, although local marketing efforts have been proven to be cost-effective
and efficient. In fact, brands that localize their efforts see a 13:1 ratio on demand generation and relationship building campaigns.
Local Marketing Statistics
- 64% of brands see local marketing strategies as critical.
- 73% spend less than 20% of their marketing budget on local marketing.
- 16% of national brands do not localize marketing campaigns, despite understanding the importance of hyper-local efforts.
Despite hesitancies, there has been an 11% increase in brands who invest in local marketing, compared to that of four years ago. Marketers recognize that by simply adding a local component to their marketing efforts, they can attract the prospects that their competition is likely ignoring, increasing brand awareness, reducing costs by eliminating waste, and ultimately boosting brand recognition. Local marketing, such as local mobile targeting, and other hyper-local marketing efforts, increases brand favorability among consumers because it impacts them on an individual level. Otherwise, even the most popular brands may see a lack of loyalty within their target markets.
More Advantages to Implementing Local Marketing Ideas
There are many advantages of running a national campaign, including effectively establishing yourself as a nationwide brand. The internet makes it simple for you to reach your core audiences across the U.S. However, the cost of acquiring a new customer from a national campaign can be pricey. Because the market you’re reaching is so large, you’ll need to repeat your messaging consistently to become more memorable to prospective customers. With local marketing, you can choose the locations that are most relevant for your brand. For example, if you’re a technology company looking to reach C-Suite audiences and key decision makers within a company of a certain size, you can home-in on markets where these audiences are most likely to work and reside. By effectively choosing regions that the most engaged and profitable customers live in, your cost of acquiring a new customer can be lower than that of a national campaign.
The key to any good campaign is having a well-balanced approach to local media, and even taking the next step to hyper local advertising. Just like it’s valuable to integrate a variety of media and marketing strategies within each campaign, it is also important to have a mix of national and localized strategies within your campaigns, when applicable, to strengthen your brand and maximize opportunities to reach new and qualified customers.
SOURCES:
StreetFight Mag, 2015, MediaPost, 2015, Search Engine Watch, 2015.
