TV remains a popular and effective local marketing tactic for multi-location brands, and there are signs that technologies for more precise targeting, media planning, and buying are finally reaching critical mass.
Location data and analytics are a key R&D priority both now and in the longer term for companies supplying technologies and services to the connected local economy, according to Street Fight’s latest reader survey. Those companies deem AI and voice technology as two areas that require investment now, with an eye on a later payoff.
Multi-location brands have been a little slower to embrace digital technologies in support of their local marketing and advertising than SMBs, but that’s changing pretty fast. The biggest of those companies still tend to be a little conservative, but they’re shifting digital spending towards local and adopting a broader variety of tactics.
Instead of integrating multi-media news consumption with entertainment, community conversations, events calendars, advertising, and a buyers and sellers marketplace, Facebook is isolating them as components. While this is consistent with its separate apps approach, it likely won’t result in as much audience cross-fertilization as it should. Nor does it feel at all local advertiser-friendly.
We’re kicking off our third annual executive survey about the state of the local marketing ecosystem. We welcome readers to share their thoughts on the state of the industry by filling out a short survey on what their companies are prioritizing and what challenges they’re facing. As a thank-you, we’re offering a free report or a discount on Summit tickets.
About a quarter of multi-location brands use local media agencies to help manage and evaluate their local digital advertising and marketing programs, according to Street Fight’s latest survey. There’s a modest correlation between using agencies and marketing effectiveness, and the agencies seem to help the most with TV and display advertising.
The report Enterprise Local Marketers 2017: Benchmarking and Best Practices examines current trends in their local marketing tactics, channels, and operations. By analyzing the survey data and correlating digital marketing effectiveness with spending, tactics, and management, Street Fight has identified key enterprise local marketing best practices.
As enterprise local marketers become experienced with digital tactics they originally used to promote their corporate sites, they are getting more savvy about digital marketing. Today, most of them spend less than a third of their digital budgets on local campaigns and programs, but 40% say they are increasing the local mix.