Many of us are working on 2016 ad budgets. It’s kind of a crystal ball exercise. You sit down, gather up sales figures, look at ROI, and try to forecast goals and allocate media dollars. When it comes to preparing media estimates, it’s helpful to know what the trends are. BIA/Kelsey has published a forecast that provides a complete overview of U.S. local advertising.
The U.S. Local Advertising Forecast 2016 offers a five-year national overview of total U.S. spending in local markets and market-based advertising revenue estimates for twelve media. BIA/Kelsey defines local advertising as all advertising platforms that provide access to local audiences for national, regional and local marketers.
Today we’re focusing on their predictions for local media spending in traditional vs. digital media. Some may be surprised that it’s not the end of the world as we know it for traditional media. Yes, the amount spent on traditional media advertising is projected to remain virtually flat through 2020. Local advertising spending is expected to increase by a compound annual rate of 3.6% from 2015 through 2020. That increase appears to be destined to be spent on online/digital advertising.
Are you working on your company’s 2016 marketing plan? BAM can help you find efficiencies in your media buy while bringing more effective creative to your brand. Let’s meet for a drink! Call us at 203-333-3400 or drop me an email.