Radio and television were an integral part of mass media marketing but recent development has forced the industries to evolve. Finally, Radio and Television become an integral part of local advertising as well. Marketers and industry managers are finally getting to know the power of local advertising, which is immensely effective. There’s a huge probability that a startups and small businesses acquire better return on investment with local adversiting. The evolved industry leverages with multiple advertising options; with radio, newspaper, hoardings and local channels on televisions local businessmen can aim to achieve more and bigger.
Let’s traverse through the varied reasons why local advertising is more effective than mass media for local businesses; let’s dig deeper and find out why local advertising is the next big thing.
1. Ads become relevant when published in native language
With individual FM Radio and News Channels, people living in metropolitian city are now more concerned about what’s happening in their own city. These channels, be it FM or TV has become an important source for information like traffic situation, weather condition, real estate deals, grocery discounts and upcoming events.
With more and more people drifting towards local sources, it is inevitable for businesses to join the movement. By publishing ads and content in a language that people understands and feel attached to can help businesses of all scale accomplish greater things.
Example: A native Mumbai person will find ETV Maharashtra more relevant than BBC because ETV provides him with relevant information and news in his or her language, whereas BBC broadcasts all the International News with almost on relevancy.
2. Local Advertising is Economical and Effective:
With so many local advertising options like newspaper, hoardings, radio and TV channels businesses can finally start considering local advertisement over mass media that reaches out to people from around the country. Local ads are effective and highly economical are few measures why businesses are ditching mass media advertising.
Example: GainBuzz is a reputed Indian advertising platform, with more than thousands national clients, GainBuzz reaches out to people living in every corner of the country but it recently started publishing region based ads. A successful national ad agency started serving region based ads proves that people are looking for such relevant information. A lot of business houses have started acquiring their region based ad services for better result.
3. Businesses can turn themselves into brands with local advertising:
Globalization has coaxed local brands to rethink their marketing strategy, with top brands from around the world catering to people in small cities and towns; retailers were facing a new threat. The existence of retailers and local manufacturers were in danger with the advent of global brands into local market.
Mass media certainly helped businesses reach out to more and more people but it was not helping with brand building exercise. It is only when businessmen started investing huge sum of money into local advertising instead of mass media that they got recognition as a brand. Establishing yourself as the Thought Leader of industry is more important than reaching out to millions of people for seconds.
4. Local ads can be customized to increase relevancy
A huge share of buyers is middle class, which looks for brands they can relate to and afford at the same time. Middle class indulges into extravaganza during festivals by buying clothes from international outlet but throughout the year they visit local stores and businesses for basic needs. It is okay to lose your business to international brands once a year but it is certainly not a good thing for local businesses to surrender in front of global brands.
Local entrepreneurs can target their audience with great ease by using local advertising options like billboards and pamphlets whereas global outlets will continue with their international slogan and marketing strategy.
Customization is the key for local businesses to succeed.
It is said that A “Business without marketing is like running on a treadmill, you are working very hard but going no where”. Small businesses and startups need to understand that they are going to turn irrelevant if they are not reaching out to local people. Once small businesses have enamored local people and acquired an impressive audience base then they can move out and establish other cities and states.
Example: Facebook was launched in English language only but with time it has evolved and today it allows people to access its platform in their native language. Yes! People can access Facebook in Punjabi, Hindi, Marathi and many other local languages. Customization is very important. Adapting to local flavor can help global brands as well.
5. Affluent Media Consumption with Focus on Medium
A lot of marketers are betting big on local advertisement because affluent media consumption with focus on medium can impact the way people buy products or acquire services.
Yes! It is possible to impact consumer behavior by enamoring them to spend money on a particular product or service because it brings long term benefits. Businesses today are getting in collaboration with payment banks for impacting the buying power of a consumer.
Example: PayTM, an Indian Payment Bank allows people to pay Electricity Bills online and also provides with desirable cashbacks. Yes! By giving cash backs, PayTM is impacting consumer behavior. Local businesses can also collaborate with PayTM, advertise their business by sharing cash back benefits and impact the way people spend their money.
Payment banks like PayTM provides user with other benefits like “no need of carrying cash”, “savings on every purchase” and “a new lifestyle”. Businesses can advertise their services as reliable, easier to access and rewarding by getting into partnership with such banks and attract users who are already looking for a business that provides great user experience.
Local advertising and hoarding advertising has changed the way startups and small businesses design and publish campaigns. The contemporary world has leveraged businesses with handful of opportunities that can be used to change the face of existing market.
With more and more businesses drifting towards local advertising because it is economical, relevant, accurate and effective is going to change the existing ration of local and mass advertising from 30-70 to 70-30.