The Pace of Change

Sometimes the most telling part of local advertising trends is how fast they are changing. 

One number in a soon-to-be-released survey stands out: In April, 2011 76% of local advertising prospects did not rule out buying online advertising. 

What's interesting about this figure is that it's up from 64% in January.

To be fair, I've flipped the numbers around a little: The actual question asked of the merchant, is whether they would not purchase online advertising, including banners and directory listings in 2011. 

 As of January, only 36% of businesses said they would not advertise online this year. In the new report to be released shortly, that number shrank to 24%. The question was asked of 9000 businesses in Borrell&Associates Local Advertiser Report. 

That's how fast budget decisions are changing today - not year-over-year with a nice, clean, annual planning cycle, but literally month to month.

It's about time that advertising dollars shifted to where consumers are... but not such good news for media companies who have not greatly broadened their products and begun to develop additional products to solve the dimes for dollars problem.

Here's what we know: The average merchant is getting contacted more than 20 times a week with some kind of sales pitch. They still want to talk to their media rep, with whom they have a relationship.

The question is, will that rep listen, and are they equipped to propose integrated digital solutions with the high ROI that local advertisers want.

The first step - often just to convince sales reps and managers to "skate to where the puck is - is a survey of local advertisers. 

The Local Advertiser Report mentioned here is created via an e-mail with a link to Survey Monky that is sent to prospects in the media company's database. Questions ask where  advertisers are spending and thinking about spending their marketing dollars, as well as their impressions of who is a trusted adviser in the new media landscape. So the report has local information, as well as the general national numbers.

To track your own market  contact Greg Harmon, gharmon@BorrellAssociates.