Well, we are at the opening session for the Kelsey Group's Interactive Local Media conference.. There are 450 attendees and 60 panelists and speakers that will be presenting over the next 3 days.
As we mentioned, the conference is not specifically for online video, but there is a heavy focus as we all know small and medium sized businesses (SMBs) are gravitating more and more to online video marketing. In addition, we have seen directories like superpages, citysearch, and others beginning to focus heavily on online video offerings for SMBs. So, this will be a great conference as the focus will be on directories, search, video, mobile, and much more..
As I am typing, they are discussing what The Kelsey Group is and why we are here…. Rather than re-post this, I would encourage all of you that are unfamiliar with The Kelsey Group to take a look at their website as the offer great research and are really thought leaders in the local interactive space.
Matt Booth, Senior Vice President Program Director Interactive Local Media
is up presenting
- Total market in the US for local advertising – $285 Billion Dollars spent in Local advertising by SMBs as well as National businesses making local purchases.
- Online media usage in the US has reached parity with traditional media- SMBs, when looking for information online, use the internet as much as they use offline services.
- Matt states that the question is, what is it going to take to have the spends move? IE, when are we going to see SMBs spending equal amounts as they are now using offline and online media at the same rate?
- Matt then goes into discussion regarding the market uncertainty, recession, etc…
- SMBs state that the biggest influence on their media buying decisions is "Media Performance.”
- That is good news as we know online media performs well – SMBs state that email marketing and PPC are the best in terms of media performance. In addition, SMBs surveyed state that these also produce the largest ROI
- However, how do SMBs track leads to Prove value and ROI?
- For the most part – they really dont have a method for doing this.
- SMBs state that 57% of the time, their media buying decisions are really based off what others are doing.
- Instant gratification is an important "perception" of value for SMBs. Therefore, the quicker that the media can provide gratification, the more that SMBs value the media – hence email marketing and PPC are valued high vs. other media.
- So, what do SMBs want in an advertising solution?
- Lead Tracking
- Pulsed Advertising or seasonal
- "Conversion and reputation management”
- "A blend of content and advertising that work seamlessly together”