CHANTILLY, Va/PRNewswire/ -- BIA/Kelsey, adviser to companies in the local media space, today launched Social Local Media
(SLM), a new advisory service dedicated to covering the growing and
dynamic social media ecosystem and the best opportunities for driving
revenues with social platforms. SLM was created to address the rapidly
developing social segment of what the firm estimates will be a $23 billion digital advertising market in 2011.
(Photo: http://photos.prnewswire.com/prnh/20110223/NE52845 )
Confirmation of the significance of social platforms for local media
and advertising comes from the latest wave of BIA/Kelsey's Local
Commerce Monitor (LCM), an ongoing study of the advertising spending
habits of small and medium-sized businesses (SMBs), conducted with
research partner ConStat. LCM reveals intense use of social media by
SMBs, as 48 percent of respondents said they are using Facebook for
advertising or promoting their business. Among those surveyed, 40
percent said they have a Facebook page specifically for their business.
Additional findings indicate that among respondents, 25 percent use
other social networks, 22 percent use a blog and 19 percent use Twitter
to promote their business.
"Social local media, as a marketing, customer-care and content agent, has crossed the mainstream threshold," said Neal Polachek,
president, BIA/Kelsey. "As with any growing marketing channel, the use
of social platforms brings questions and concerns about where companies
should allocate their efforts and budgets. By concentrating on social
local media, we are using our resources to help our clients make sense
of where this new ecosystem is headed and how they can participate
effectively, both strategically and from a revenue perspective."
SLM will spotlight buyers, sellers, platform developers, vendors,
practitioners and thought leaders engaged in the use of social media
tools and techniques to forward customer relationships. This analysis
across the ecosystem is imperative as the social media space evolves
from search, display, mobile and directory platforms, and organizes into
its own distinct personality and value proposition as part of the local
advertising mix. SLM will focus on helping media companies and social
platform suppliers identify the best integration strategies for
implementing social across media, marketing and advertising channels in a
manner that drives revenues.
The SLM practice will be led by Program Director Jed Williams.
Williams joined BIA/Kelsey in 2010 as an industry analyst with more
than 10 years of experience on both the business and content sides of
media. Through a partnership with BIA/Kelsey, Andrew Shotland
of LocalSEOGuide.com will work with Williams as associate program
director. Shotland is a highly respected social and local SEO expert,
whose experience includes heading up online initiatives in directional
media and cable television organizations.
SLM coverage will center on the following key themes: new local
monetization models for social networks; metrics that measure social
initiatives; social media transactions; social media valuations and
valuation models; social commerce; Facebook's continued evolution;
social's role in e-mail, reputation and presence management; next steps
for check-in services; and industry analysis of how various media
segments are utilizing social channels. To learn more about the Social
Local Media advisory service, visit http://www.biakelsey.com/Advisory-Services/Social-Local-Media, or contact Steve Passwaiter at (703) 802-2973 or spasswaiter@bia.com.
As part of this week's launch of the SLM advisory service, BIA/Kelsey will host a free webinar at 1 p.m. Eastern on Thursday, Feb. 24,
titled, "Social and Local: The New Killer Platform." In this session
BIA/Kelsey analysts will examine how the social local landscape is
evolving. For webinar details and online registration, go to http://www.biakelsey.com/Events/Webinars. Social local media will also be a focus area of the firm's upcoming Interactive Local Media East conference, March 21-23, where top innovators from leading social companies will be attending.
About Local Commerce Monitor
Local Commerce Monitor is BIA/Kelsey's annual tracking survey of
small and medium-sized businesses, conducted since 1999 with research
partner ConStat. The survey
measures where SMBs are spending their advertising and promotional
budgets and how their media usage and spending habits are evolving.
Local Commerce Monitor draws its sample of business respondents from a
mix of nationally scoped MSAs, which include first- and second-tier
markets. Local Commerce Monitor Wave XIV was conducted in November 2010 via an online survey of 307 SMBs.
About BIA/Kelsey
BIA/Kelsey advises companies in the local media space through
consulting and valuation services, research, Continuous Advisory
Services and conferences. Since 1983 BIA/Kelsey has been a resource to
the media, mobile advertising, telecommunications, Yellow Pages and
electronic directory markets, as well as to government agencies, law
firms and investment companies looking to understand trends and revenue
drivers. BIA/Kelsey's annual conferences draw executives from across
industries seeking expert guidance on how companies are finding
innovative ways to grow. Additional information is available at www.biakelsey.com, on the company's blogs at www.biakelsey.com/blogs, Twitter (http://twitter.com/BIAKelsey) and Facebook (http://www.facebook.com/biakelsey.)
SOURCE BIA/Kelsey
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