Marchex released a new report yesterday looking at how national brands with local branches can measurably boost customer acquisition in their local markets. John Busby, our SVP of the Marchex Institute and resident Data Guy, talks about it more in a guest post here.
E-commerce is a huge market. Yet the amount consumers spend digitally is just a tiny fraction of the amount we spend locally. We spend — get this — as much on auto insurance ($178 billion), a product generally purchased through a local agent or broker, as we do on all retail e-commerce categories put together ($186 billion).
For most national brands, therefore, digital advertising isn’t about how to get consumers to purchase on their PC, tablet or smartphone. It’s about getting consumers to pick up the phone to call a business or get in-store traffic. And this requires coordination and cooperation between national brands and their local offices.
We released a paper yesterday exploring this topic of National Local advertising from the perspective of three parties: the national brand, the local business and the consumer. The data in the paper comes from interviews with local businesses, thousands of National Local campaigns, tens of thousands of phone calls and 3rd party research.
What we found was that cooperative advertising programs are a significant opportunity to lower costs, extend reach and build tighter connections between corporate HQ and local offices. And more than anything else, consumers crave that human connection. They WANT to call businesses and they WANT to get that personal interaction.
Please dive in and thanks for reading!