The New Localism: Why Local Markets are Best Positioned for Growth

What is the “new localism”?

Local markets are full of stories. They reveal the interdependence of people and events that shape the foundation of the citizens who reside in them and create the business, social and cultural nodes that make each place unique.  For the marketing and advertising industry, it is time to reconsider the value of these rich experiences and their influence on both commerce and consumer sentiment. Digitization is finally offering an opportunity to collect and utilize this information through data but it will require collaboration across a broad mix of partners to drive the initiative to a successful outcome.

Here’s a few things this webinar addressed.

• The Paradox of Technology: gains virtual proximity have come at the expense of richness of experience.
• Localism is the Social Core: Local pride and the rise of the city-state will nurture home-grown businesses and attract national marketers to make local connections.
• Media as Cultural Touchstone: As more of life’s transactions happen virtually, mass media provides the cultural currency of our real and virtual communities.
• Blending the Real and the Virtual: Maximize media and technology platforms within the local infrastructure to create community at every possible level.

• With a shift toward data driven targeting, there is a risk that algorithms may be more biased toward national target aggregates.  Taking action at the local level can do much to correct this course of action.
• Channel competition continues to expand horizontally while measurement services focus on vertical positions. Putting the local market audience at the center of measurement solutions can inform better development that aligns with local media goals.