A recent report released by eMarketer titled “Local Online Advertising: Measuring the Market” shows that while only a small portion of total local advertising spending is being sent towards online efforts today, there is likely to be a different trend in the years to come.
In 2007, only 2.9% of all local ad spending will go towards online endeavors, or $2.9 billion. This figure is expected to reach $7.8 billion by 2011.
Currently, $97 billion is being spent on offline local ad spending efforts.
However, with more and more consumers looking for business information using online resources and means, it will only be a matter of time before businesses follow the trend and channel more of their funds towards the Web.
“As audiences continue migrating to the Web and away from traditional local media such as newspapers and radio, it’s only a matter of time before online local ad spend catches up with today’s reality,” said David Hallerman, senior analyst at eMarketer and author of the report.
This increased flow of money to online advertising outlets will create hotter competition for search engines, newspapers, TV stations, Web portals, and local directories.
Source:
http://www.webpronews.com/topnews/2007/09/10/local-online
-advertising-to-reach-7-8-billion
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