While radio is still trying to figure out how to monetize its social media accounts without alienating listeners, local advertisers are continuing to migrate to social media to build their companies. That’s according to a new report from Borrell and Associates.
In the new report entitled “Social Media’s Impact on local Advertisers,” Borrell surveyed over 7,500 local businesses that purchased local advertising in 2016. Over the past five years, local businesses have ramped up their use of social media to help drive business and generate new customers.
Borrell reports that newspapers are most likely going to feel the biggest hit due to the shift to social media. Not surprisingly, Facebook was the number one choice for local advertisers with 96% responding that they have a Facebook page. Twitter was a distant second at 51%, and LinkedIn came in at 41%.
Here are some additional highlights from the study:
The percentage of advertisers selecting Social Media as a leading source of new customers has more than doubled in five years, from 21% in 2011 to 44% in 2016. The percentage of advertisers who believe that their company’s website is a significant source of new customers has slipped. Events, newspaper ads, yellow pages, and direct mail have declined. Borrell also reports that in 2011 18% of the respondents said radio was their best source for new customers. That number jumped to 19% in 2016.
Borrell will host a webinar for subscribers and report buyers on Thursday, December 8 to discuss the report.
