How do you support local media?
The obvious answer is to spend ad dollars with local publishers… but challenges permeate a lot of these conversations with brands- Is there enough inventory? Is the “premium cost” worth it? What’s the immediate ROI? When marketing budgets are cut, especially with performance-driven brands, the tactics that can demonstrate the highest direct ROI in the short term are prioritized. Oftentimes, that’s not local media.
Despite our best intentions, committing to invest in local media can be challenging when marketers are navigating a myriad of demands with less budget.
How can marketers and agencies navigate these conversations and support local publishers in a challenging landscape?
I think part of the answer is helping to shift the conversation around media value and playing a long game. Instead of only pursuing short-term gains, advocate for the importance of long term media investment - which is where the effectiveness of local publishers will be best evaluated and attributed.
Approach local media as portfolio diversification - Diverse portfolios are healthy ones. They minimize the chances of a large loss due to a negative event. You’d likely never put 100% of your savings into one or two large companies and expect to maximize gains. Why are we doing so with media?
Treat investing in quality as a long game. The effectiveness of local media may not show up in a one day click or last-touch attribution window right away. People don’t always convert within an attribution window, but where you show up matters. It makes an entry point with the people in communities you are serving. It influences what people will associate with your brand. That association is built up slowly, over time and consistently showing up in quality environments that are congruent with your brand image. There is no perfect metric that measures the immense value of that. Coca-Cola wasn’t built by only chasing a cheap CPA- it was built by showing up in the right place time and time again. In fact, they double down on brand and long-term marketing efforts in times of financial upheaval.
Realize the importance of assists. Know the role local media is playing within your acquisition cycle. It’s probably not your primary conversion driver, but it may be important to getting people to convert. Path to conversion reporting can help demonstrate this and show how different touchpoints are helping to drive your outcomes.
Marissa is a Group Director of Digital at Cossette Media, where she has led digital buying and strategy on a range of clients from Fortune 500's to homegrown businesses. She writes about how changes to public policy and technology inform our media landscape and human connection.