Results of the second annual Localized Marketing Benchmark Report underscore the importance of optimizing digital presence on a local level
SOCi, Inc., the leading centralized platform built specifically for “next-level” multi-location marketers, today released its annual Localized Marketing Benchmark Report, which revealed that an optimized localized marketing strategy can yield up to three times more business growth. More than 250 multi-location brands were evaluated on their overall presence, ratings and reviews, and community engagement across the top three localized marketing platforms – Google My Business, Facebook, and Yelp.
Released in partnership with Localogy (formerly known as the Local Search Association), the second annual Localized Marketing Benchmark Report (LMBR) points to a direct correlation for multi-location businesses between revenue growth and an optimized localized marketing strategy. When executed effectively, localized marketing can help brands build and maintain an engaged base of loyal customers, propel their presence to the top of organic search results, and, ultimately, drive increased foot traffic and in-person sales.
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“The way that consumers are discovering new businesses or searching for information about businesses is changing, happening more on social media and search platforms, and with local intent,” said Monica Ho, CMO of SOCi. “The data shows that multi-location brands are in fact adapting to these changing customer behaviors, and, as a result, improved their average benchmark score 20% from 2019 to 2020. However, with an average benchmark score of 54 out of 100, multi-location marketers have a significant opportunity to further improve. It’s important that marketers identify these key areas for improvement, while taking a strategic approach that’s tailored to their industry. We’re excited to help more marketers refine their approach and ultimately boost their benchmark score for 2021.”
As local search becomes more intelligent and personalized, the LMBR shows that a localized marketing strategy has become increasingly important when maximizing consumer interactions and reach. Before engaging with a business or service, nearly all consumers (97%) conduct a local online search, with 78% of purchase decisions influenced by social content. What’s more, 85% of engagement is on local pages, underscoring how absolutely critical it is for businesses to optimize their digital presence on a local level.
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Ten multi-location brands stand out in this year’s report as those that are excelling in localized marketing, scoring on average 82 out of 100 points. Not only did these companies have the highest benchmark scores, but as a group, they outperformed the average revenue growth rate of all of the brands studied by more than 300%.
- Freddy’s Frozen Custard and Steakburgers
- Amazing Lash Studio
- Jason’s Deli
- Sky Zone
- CPR Cell Phone Repair
- Anytime Fitness
- Pet Supplies Plus
- Ruth’s Chris Steak House
- Club Pilates
- The Learning Experience Academy of Early Education
Additionally, based on this year’s benchmark scores, three industries stand out as those that are outperforming in localized marketing: fitness, education, and personal care services. Companies in these categories, including those also identified as top 10 performers, particularly excelled at search and reviews — the majority of their listings were claimed and completed, reviews and Q&As were responded to promptly, and pages on Google My Business, Facebook, and Yelp were consistent and comprehensive.
“Brands must establish a sense of trust and authority through their digital presence to foster relationships with and create loyal customers,” said Bill Dinan, CEO of Localogy. “From our 2020 Localized Marketing Benchmark Report, we know that response time is paramount and the definition of a reasonable timeframe continues to inch toward ‘immediate’. As businesses align resources to best respond to an increase in comments and reviews, tools like SOCi help them track that trend and enable more immediate interaction.”
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The post Multi-Location Businesses Can Triple Growth Rate with Localized Marketing According to Joint Research from SOCi and Localogy appeared first on MarTechSeries.
