The local advertising market is decreasing considerably, particularly in the traditional media. Kelsey Group and BIA Advisory Services predict a compound annual -1.4% overall growth rate, with the largest drop-off in local ad spending occurring in 2009. According to the study, the local advertising market will be smaller in 2013 than there was in 2008 - from $141.3 billion in 2008 to barely over $112 in 2013.
On the other hand, spending in Internet Marketing and Advertising is growing continually and will make up a larger percentage of the local advertising sector. In 2009, 12% of local ad spending will be digital (Internet yellow pages, local search, e-mail marketing and others).
In 2013, the Internet Marketing and Advertising spending will jump to over 22%, and might grow even higher. This study shows that more and more people are taking advantage of the benefits of Internet Marketing and Advertising.
Contact SOHO Prospecting today and let us help you with a low cost Internet Marketing and Advertising strategy to attract your specific target market.