BIA Estimates Local Broadcast TV Ad Revenues to Top $23.8 Billion in 2024, Bolstered by Political and Increased Auto and Legal Ad Spending
BIA CEO Addresses Television’s Share of the Local Advertising Marketplace for Key Ad Spending Verticals…
CHANTILLY, Va. (April 8, 2014) – A new report by BIA/Kelsey shows the smartphone revolution is only just emerging in its ability to generate SMB business leads through native phone dialing. “Phone Calls Are the New Click: The True SMB Marketing Opportunity,” illustrates that effective inbound call tracking and analytics to show return on investment is still required to make mobile an effective investment among small and medium-sized businesses.
“Most local commerce takes place offline, but is increasingly influenced online, or through mobile devices,” said Michael Boland, VP, content and a senior analyst at BIA/Kelsey. “We’ve seen a movement towards more tangible and simple lead sources such as foot traffic and phone calls driven from mobile search. BIA/Kelsey data show these calls to be high-intent, which means callers in the buying stage that could easily convert to sales.”
BIA/Kelsey’s Local Commerce Monitor™ (LCM) study of consumer media consumption habits reports 66 percent of small to medium-sized businesses (SMBs) rate phone calls as a good or excellent source of leads, followed by online forms (58.2 percent), in-person (54.1 percent), and email (43.7 percent). In particular, local verticals, such as financial services, home services, and professional services (lawyers, doctors), place a high value on new customer acquisition, underscoring the business opportunity to drive phone leads.
For SMBs to seize lead-generating mobile opportunities, they must have a process for monetization. Technologies being developed for big national brands must be adapted and simplified for SMBs. BIA/Kelsey sees this as a major opportunity for innovation in call monetization, as well as its subcategories such as inbound call tracking and analytics.
“We see from our customers and our own research that SMBs in local markets are an underserved segment for using inbound call tracking to sell and demonstrate the value of digital marketing,” said Jason Sommerset, director, product development, Bandwidth. “This is due to the fact that digital marketing has quickly become a science of its own for large enterprises, and these complex systems and workflows still need to be simplified for SMBs. Putting phone leads at the center of the value proposition is a simple and concrete way to demonstrate to SMBs the value digital marketing and a mobile presence delivers to their business without having to make it overly complex.”
“Phone Calls Are The New Click: The True SMB Marketing Opportunity” was sponsored by Bandwidth, a nationwide voice network provider powering the digital marketing industry through its support of the nation’s leading call analytics companies.
Chapters in this 26-page report include:
The report can be downloaded here: http://www.biakelsey.com/Research-and-Analysis/Reports/Sponsored-Research/phone-calls-are-the-new-click.asp.
BIA/Kelsey Sponsored Research is commissioned by companies that wish to spotlight areas of coverage around their expertise. BIA/Kelsey maintains full editorial control and applies its longstanding standards of editorial practice and objective market analysis. Companies interested in contracting BIA/Kelsey to cover a particular topic or profile sectors of local media innovation should contact firstname.lastname@example.org for more information.
Bandwidth is among the nation’s largest and fastest-growing communication technology companies. The company operates two divisions – business solutions and consumer & SMB – that share a mission of transforming the communications industry. Across the divisions, Bandwidth provides a full range of communications services, including voice origination, termination and toll free; a full suite of 9-1-1 services; SMS solutions; SIP Trunking; hosted VoIP for SMBs; and a consumer wireless business. Founded in 1999, and a certified CLEC in 49 states, Bandwidth is a profitable company headquartered in Raleigh, NC with a large remote office in Denver, CO and field offices in eight other cities. For further information go to http://bandwidth.com/.
BIA/Kelsey advises companies in the local media space through consulting and valuation services, research and forecasts, Custom Advisory Services and conferences. Since 1983 BIA/Kelsey has been a resource to the media, mobile advertising, telecommunications, Yellow Pages and electronic directory markets, as well as to government agencies, law firms and investment companies looking to understand trends and revenue drivers. BIA/Kelsey’s annual conferences draw executives from across industries seeking expert guidance on how companies are finding innovative ways to grow. Additional information is available at http://www.biakelsey.com, on the company’s Local Media Watch blog, Twitter (http://twitter.com/BIAKelsey) and Facebook (http://www.facebook.com/biakelsey). Stay connected by subscribing to the firm’s bi-monthly newsletter.