INTERNET SEARCHING HITS CLOSE TO HOME.
By Neil Street
This year's Search Engine Marketing Convention in New York
drew thousands of attendees eager to hear the latest news in
online search, one of the hottest topics in marketing today.
Why is it so hot? Consider this simple statistic: at the
forum on
local search marketing, th.combined value of U.S.
sales driven by the various search engines represented on
the panel was estimated to be $40 billion annually. The
estimate may be wildly innaccurate, but whatever the true
figure is, one thing is certain: it isn't pocket change.
It's big, big business.
The general consensus at the convention held that local
search (a term that actually covers more than just search
engines) is the big prize fo.companies seeking a portion of
the dollars that are increasingly expected to be spent by
both national and local advertisers aiming at local markets.
The reason tha.companies large and small are salivating at
the prospect of these local online ad dollars is that
consumers are increasingly using the Internet to search for
local goods and services. In that sense, consumers are
leading the charge in this new direction û the search engine
and director.companies are trying to catch up with what is
already an established trend. One often quoted statistic,
courtesty of Yahoo (who, with their amazing database
resources ought to know) is that at least 30% of all
searches in a given month are for local goods and services.
What's more, the trend is increasing. It's easy to
understand why consumers are searching this way û the
Internet as a medium is inherently more capable of serving
up extensive, and often interactive data in response to a
query than any other media.
At this point in the development of the Internet, it's
unclear how the online marketing messages of millions of
local businesses will be served up to the end user.
Currently, most small businesses do not even have a web
presence to which consumers can be directed. Then there is
the question of directory versus search û how will the
consumer look for the information, how will it be delivered,
and most importantly, what will it cost the advertiser?
Today, a number of different models ar.competing in a race
to offer the best model both from the view of the advertiser
and the view of the end user. Google is beta testing a
search method that serves up local results, which will of
course tie in with Google's Adwords program (paid little box
ads next to search results). Yahoo is blurring the lines
with their new offering, which is a "paid inclusion" model
that then ranks a site based on relevancy, and, as if that
were no.complicated enough, blends it with a "pay per
click" model. Verizon is unveiling similar "blended"
strategies through their Superpages directory, and other
players are rushing to market with their plans and programs.
What to do while the major players sort out the field? If
you are a website owner with a local focus, now is the time
to start getting familiar with the new opportunities: check
out Yahoo's new "paid inclusion" program (offered via
Overture), Citysearch is worth a look, Google is beta
testing a local version of Ad Words, and the Internet Yellow
Pages from Yahoo and Verizon are both worth evaluating. And
don't forget to optimize your site for search, through
appropriate use of keywords plus geographic modifiers.
Beyond the website owner, the boom in local search affects
anyone involved in loca.commerce. Whatever your role, it's
important to be aware that an economic sea change is taking
place. Remember that consumers make most of their purchases
within 50 miles of home. Like politics, most business is
local. Any major change in how consumers shop for those
purchases is an important economic event.
Neil Street is co-founder of Small Business Online, based
in Wilton, CT., a website design, management, and promotion
company dedicated to the Internet needs of the small
business. His website is at
smallbusinessonline.net Send email to
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(20
3)761-7992.
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