Marketers: here's a bit of data that pegs consumer sentiment and marketing spend as we head into the second quarter of the year.
Consumers are sensitive when it comes to local search - especially when a listing has erroneous business information.
The report, available here from Placeable, focuses on location-based marketing and ensuring that the relevant information is delivered to the consumer - and demonstrates how other brands can poach business simply by being more accurate or available via search:
- 61% say they would go to a competitor if served an offer while searching for a company.
- 73% say they lose trust when an online listing shows incorrect information, and 67% lose trust if getting lost due to an inaccurate business listing.
It's absolutely essential for consumer trust to keep business listings up-to-date. This also includes specific information, pricing, contact information, and other vital pieces of data - so for tour operators, that means updated photos and inventory.
For hotels, that means keeping accurate information related to availability and room categories. And for other tourism-focused businesses, ensuring updated menus and related business information so visitors can discover the business easily and accurately.
Online ad spending growth
Online ad revenues continue to climb steadily, as advertising dollars march away from offline and into the digital.
In fact, 2013 was the first year that the Internet surpassed broadcast television in share of advertising spend.
On the ad spend allocation front, the trend towards mobile advertising continues to show strength. Search dropped slightly, as did display ads, while video showed a tick upwards as more inventory becomes available.
Travel and leisure ad spending is actually down year-over-year, according to this analysis by IAB/PwC.
The full report on advertising revenues from IAB is available here.
NB: Local search image courtesy Shutterstock.