Studies show that if you offer a service that serves your customer on-site — like a restaurant or a barber shop — most people won’t travel more than 20 minutes to visit you. Older technologies, like city-wide broadcast television or newspaper advertising, virtually assure you will waste a great deal of your marketing budget if you’re not able to serve the majority of people seeing your ad.
However, services like Go2Broadband can now be coupled with online services allowing businesses to target far smaller geographies — in fact, down to specific addresses — presenting a never-before-available opportunity to make hyperlocal neighborhood connections between consumers looking for both news and information as well as things to do or products to buy close to home. In fact, according to a recent study sponsored by Google, 72 percent of customers visited a store within five miles of their location after conducting a local search, highlighting the importance of local marketing.
Better yet, a number of recent studies reveal that consumers prefer video when making purchases:
- Four in five consumers believe demo videos are helpful.
- Four times as many customers would rather watch a video about a product than read about it.
- Nearly 50 percent of internet users search for product and service-related videos before visiting a store or business.
- Perhaps best of all, according to Google, 88 percent of consumers making local searches from a mobile device take a positive, specific action — like calling a business, making a purchase or going directly to store — within 24 hours.
Video plays a crucial role in the marketing of small businesses. From videos embedded in blog posts to home page hero videos, it’s apparent that video content is becoming increasingly vital for each and every industry to use in their marketing efforts.
Visually appealing video content arouses emotional reaction from audiences and encourages engagement. The easy-to-consume content acts as a wonderful learning tool as most consumers want to view products in action to discover more. Video not only has the opportunity to educate audiences, it should entertain them as well.
When even local television commercials began to cost thousands to produce and traditional TV started reaching regions instead of neighborhoods, two things typically happened. First, the messages were broadcast over a geographic area so large that only a fraction of the audience were likely to care. Perhaps worse, the same 30-second spot ran until everyone in the market was sick of it and it became little more than wallpaper.
Today’s technology allows local businesses to do three things with video that were difficult — and expensive — to do just a few years ago.
- Target video by neighborhood, not city or region. Placing video on a multi-vendor marketplace with hyperlocal targeting is cost-effective — and just plain effective for new customer acquisition! Why pay to reach customers outside of your market area when you can use an online marketplace platform with focused reach?
- Update the message frequently. Once you know there’s an Italian restaurant two blocks from your house and you’ve tried and liked it, a video telling you there’s an Italian restaurant two blocks from your house is a waste of time. However, a video on a marketplace platform telling you the Italian restaurant two blocks from your house is having a wine-tasting dinner tomorrow night might get you to come in. You can even capture comments from your customers — people love to see themselves on video, and the real-life testimonials are great for word of mouth.
- Avoid burnout. We’ve all experienced the commercials that we’ve seen so often that we literally change the station when they come on. Lower barrier to entry video helps ensure hyperlocal spots can change frequently, even if there’s not a new offer or message to communicate every time.
Let’s use our fictional Italian restaurant as an example of how hyperlocal video could drive business. Using Go2Broadband to verify address proximity as a part of a hyperlocal campaign, this restaurant can now target a video on a platform like Facebook exclusively to the specific addresses of customers who are most likely to visit. Instead of a single spot that runs city-wide for weeks (until everyone changes the channel), you deliver a new message each week, noting events, lunch or dinner specials or new menu items. Instead of telling customers “we’re here” when they already know that, you invite them to “come by for this special reason.” Even better, because you can now target by address, your message isn’t wasted on those that aren’t likely to travel just for your special lasagna.
Even national brands can take advantage of targeted video ads for new customer acquisition, building customer loyalty and enhancing customer relationships. A car brand can tout an event at a local dealer or a cable company can remind local sports fans of specific coverage.
More businesses are turning to video to get their message to the people that matter, and as smartphone use continues to rise, video’s importance will only grow. Video remains the most powerful communication medium available. Coupled with hyperlocal targeting, the impact is magnified.
Kyrio’s location-based tools instantly match service and offer availability to specific addresses through online marketplaces for both home and business. To learn more, visit the Kyrio Online Services page.
For manufacturers and service providers, Kyrio accelerates and deploys new network innovations into the ecosystem. Backed by the power of CableLabs, Kyrio sets technology on a path to commercialization, enabling not just today but tomorrow’s communication.