Mobile is no longer just an important or necessary element of a marketing strategy — it’s vital for the livelihood and existence of a brand. And it has led to a critical shift in shopper behavior that brand marketers are rushing to understand and adapt their digital marketing strategies to.
Marketers that fail to see local storefronts as a critical channel are missing out on a rich sales opportunity. Brands invest $70 billion in local markets each year, but a significant portion of that spend often goes to waste because they fail to work collaboratively with their local partners.
This year, investment in marketing tech is on pace to more than double the investment in ad tech, suggesting just how promising this market is. Because these solutions are in high demand and are built on a recurring and relatively predictable software-as-a-service (SaaS) revenue model, profits have surged.
Product brands commit more than $22 billion in online co-op advertising funds each year, but local businesses leave approximately $1 billion of these funds untouched. That’s a lot of money. The revenue brands stand to earn by introducing local businesses to the digital age is remarkable…