Street Fight’s 2017 State of Hyperlocal analysis showed that selling to enterprise local marketers was one of the toughest challenges facing suppliers, right up there with raising their own company’s brand awareness and showing marketing attribution and ROI.
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.
Surveys suggest social media is pretty influential for shoppers, particularly young ones, although they gravitate to Instagram and Snapchat. Big brands are taking heed. Although packaged goods giant P&G said it was paring back its most highly-targeted Facebook ads, it recently confirmed that it was maintaining its overall Facebook spending.
As local merchants increasingly shift their marketing spending to digital tactics, they’re becoming more sophisticated in how they manage those programs. Street Fight’s latest analysis of its local small business survey shows a much higher adoption rate of digital dashboards and the like compared with previous research.
The fourth edition of Street Fight’s Local Merchant Report shows a continued movement to social media as a preferred marketing tactic among local merchants. They deem it their most effective tactic, so they’re increasing their spending. Analysis of the survey suggests that would-be marketing suppliers can help them integrate social with their own site and email campaigns, as well as assisting them with reputation management and reviews.