While hundreds of companies and brands gathered in NYC last week to talk about The Future of Search at Yext’s annual ONWARD19 conference, Tiger Pistol offered up the Yang to the conference theme’s Yin.
Tiger Pistol’s Talia Wachtel, VP of Client Management, took the stage to discuss the symbiotic relationship between local social advertising and search, and how local social is often the missing link in advertising campaigns.
“Search is all about connecting with the hand-raisers, those who have expressed an interest,” said Wachtel. “Yet if you are just servicing the people actively in-market, you are missing the opportunity to extend your reach. That’s where social advertising becomes the perfect compliment to search. Social advertising goes beyond the hand-raisers, creating the need versus waiting for the need to be expressed.”
Wachtel launched her talk, “When Ecommerce Isn’t Enough: Driving Local Consumer Engagement Through Social Media,” with two key metrics:
- Ecommerce sales account for 10% of all sales, meaning offline sales still driving a heavy majority or revenue.
- Offline sales are local, nearly 95% of consumers shop within a 20-minute or 20-mile radius of their home.
Those two stats highlight the importance of reaching the local consumer, but just how can a marketer go about doing that? Especially when the past 20 years of advertising have been dominated by global marketing strategies that traditionally target everyone, and were not necessarily dynamic to the local consumer.
Wachtel continued by discussing how the launch of the iPhone and the creation of social media platforms like Facebook seriously changed the playing field for global advertising campaigns. Suddenly marketers had to adjust to a landscape where users were consuming personalized information through feeds that allowed them to only see what mattered to them.
Wachtel acknowledged that moving dollars, all or part, from a global strategy to a local strategy is a tough decision, but the question is,
“Is your brand willing to give up a certain level of control to gain the performance benefits of personalization and localization?”
Marketers face challenges with changing platforms and questions on how to ensure that the messaging being used at the local level has synergy not only across locations, but with brand messaging as well.
Wachtel argued if a marketer can overcome these challenges by using local assets, advertising to a hyper-local audience, and target a relevant message to their local consumers, they’re in for some big rewards:
- The brand’s advertising will have a higher relevancy, meaning more return out of ad spend and dollars being used to reach the right people at the right time, driving them to take action close to home.
- By engaging locations in marketing efforts, locations are enabled to participate in the success of the campaigns, which promotes a feedback loop from the location to the market or brand.
- This feedback loop ultimately helps the brand maintain their messaging at the location level.
All this is typically easier said than done, because there are a lot of hurdles that marketers need to clear in order to gain the benefits of localized marketing through social media.
Tiger Pistol, a Facebook Marketing Partner since 2013, has been developing automated technology that is designed to help brands and agencies tackle these obstacles. Tiger Pistol utilizes location data that can be managed through Yext to create dynamic ads distributed to 1000s of locations. This takes about as much effort as it would take to set up one campaign on Facebook Ads Manager.
Better yet, as Watchel mentioned, the numbers speak for themselves. While other marketers are seeing a rise in CPMs (cost-per-thousand-impressions) on average of 122% YOY. Tiger Pistol’s own data shows that ads run on the Tiger Pistol platform have benefited from a drop in average CPMs of about 17%.
Yext ONWARD19 was packed with speakers discussing the latest in search technology and strategies to help keep brands relevant and on the cutting edge with their locations. But as mentioned, search is only half the local advertising equation. While search may pull in those interested in your product, local social advertising provides a cost-effective push, not only getting your message out to people who could be interested in your product, but also directing them exactly where to buy.