I came across two great articles today that give interesting statistics about the growth of mobile-delivered-value at the local level. I would urge you to check them both out.
- Local Ad Revenues Showing 19.6% CAGR Through 2014
- Traditional advertising continues to stagnate while online advertising continues to increase. By 2014 the expectation is that 25% of ad spending at the local level will be digital.
- 55% of all ad spending is with local media.
- At the local level online spending has increased from 10% of the overall spend to 15% this year.
- 10% of consumers driven in-store by mobile coupons
- According to this study people prefer (45% of respondents) to receive these coupons via text messages (SMS).
- However, when the study looked at just the male population that found that “51 percent said they would prefer to find coupons themselves via an application (28 percent of the general pop.) ” Similar to driving men want to find it themselves as opposed to asking for directions.
Local businesses, chambers of commerce, and local governments need to stay on top of these trends and understand the need to shift from traditional to online means. Services such as Google Places, GoWalla, and Foursquare will play a large role, helping businesses deliver mobile coupons to people in the area,or better yet, checked into their stores.