Most researchers are beginning to believe that the next move of the Internet will to toward local marketing. Here is the key that I’m going to talk about some: more and more people are going to the Internet to find local resources.
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One example is in the area of real estate. This industry alone spent at least a billion dollars in 2005 for online marketing, and is expected to increase to several billion in the next few years. So why should someone market locally online and what are the rewards for doing it?
The greatest reward is that the cost of acquiring new customers is lower than any other type of medium.
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Using real estate as an example again, there are some facts that can’t simply be thrown aside: over half (56%) of all consumers now use the Internet for the purpose of buying real estate, up from 28% in the year 2000. When consumers are asked where they first heard about the home they purchased, 24% of them responded: from the Internet.
Here is the great benefit though: When the consumers who search the Internet are much better informed, they spend much less time with you in the selling process. They don’t want to look at an endless array or variety of products; they’ve already done their own elimination process through research on their own. The bottom line is that you spend much less time and resources with them in making the sale.
I hope you’re starting to see the great value of local marketing using the Internet. We’ll explore this in the next several posts.
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