Many smaller locally based businesses find big ROI on advertising to be elusive. It could be that many are not measuring effectively or that many simply don’t have the resources to track efforts like one would think they should.
Not so with big national brands and their local advertising efforts. National advertisers expect serious returns. Of course, who doesn’t want big returns on their advertising efforts or at least desire them, right?
According to the folks from Balihoo, which is a local marketing automation provider, whatever the return expected most national brands are not earmarking large percentages of their budgets for local. eMarketer shared the data
Spend little and get a lot. That’s the way that most larger companies approach the world. It’s also why many aren’t pleased with their results. Interestingly enough many who want that ROI aren’t even measuring for it. Take at look at these findings.
OK, so not much budget is allocated. ROI is only tracked by just north of 50% of these brands surveyed but the expectation is anywhere from 50 to 300% ROI. Take a look.
Big brands usually aim to hire the best and the brightest, right? MBA’s are all over the place in the Fortune 500’s of the world. Does it take an MBA to expect returns but then turn around and not measure for it? I’m not an MBA and I can do that.
Should big brands expect big returns on local advertising efforts? Can local be viewed as other efforts that national brands undertake or is it so unique that it should be taken into account in a very different way?