Confirmation of the significance of social platforms for local media and advertising comes from the latest wave of BIA/Kelsey’s Local Commerce Monitor (LCM), an ongoing study of the advertising spending habits of small and medium-sized businesses (SMBs), conducted with research partner ConStat. LCM reveals intense use of social media by SMBs, as 48 percent of respondents said they are using Facebook for advertising or promoting their business. Among those surveyed, 40 percent said they have a Facebook page specifically for their business. Additional findings indicate that among respondents, 25 percent use other social networks, 22 percent use a blog and 19 percent use Twitter to promote their business.
SLM will spotlight buyers, sellers, platform developers, vendors, practitioners and thought leaders engaged in the use of social media tools and techniques to forward customer relationships. This analysis across the ecosystem is imperative as the social media space evolves from search, display, mobile and directory platforms, and organizes into its own distinct personality and value proposition as part of the local advertising mix. SLM will focus on helping media companies and social platform suppliers identify the best integration strategies for implementing social across media, marketing and advertising channels in a manner that drives revenues.
Jed Williams Andrew Shotland
About Local Commerce Monitor
ConStat November 2010