Introducing "The Differential," a new series featuring LBN's VP of Digital Marketing Matt Blackmore, where we break down data and offer insight into the makings of a successful digital marketing strategy.
Distance makes the heart grow fonder.
If there's one saying from all-time classic quotes that rings true for brands with multiple locations, it is this - especially when it comes to Radius Targeting.
Target too broadly, you miss making the right connection; target too narrowly, your customer will find other fish in the sea. Radius targeting is about finding that sweet spot for your location and your customer.
LBN's VP of Digital Marketing Matt Blackmore helps you dive into how to think about radius targeting for your business with this infographic:
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6 Radius Targeting Considerations For Local Digital Marketing Campaigns
In the world of hyper-local digital marketing, determining the right target radius for your campaigns can be a challenge. Population, topography and distance from the nearest metro area can all play into hyper-local marketing performance. Too small of a radius can limit volume, while too large of a radius can increase cost-per-conversion and hinder ROI. Striking the right balance is important as potential customers simply aren’t always within a mile of your business and generally aren’t willing to travel too far to connect with a business they are searching for.
To improve your local digital marketing performance, take these Radius Targeting insights into consideration, derived from LBN’s proprietary data from 500 local digital marketing campaigns and industry data.
Nearby/Near Me
Searchers are increasingly using their smart phones to search “nearby” and “near me.” Such searches have doubled in recent years.1 Although “near me” may be subjective, it is clear that local results matter to consumers.
Comparison Shopping
1 in every 4 searchers view more than 1 store’s location details before converting (when more than 1 location of a single brand is nearby). This indicates distance is not the only consideration. Pricing, offers and store hours are considerations. 4
Proximity Matters
More than 2/3 of local searchers visit a store within 5 miles.2
Multi-City Targeting
Nearly 40% of conversions are generated from targeting cities other than the city where the store is located.4
Average Commutes
The average commuter travels 15 miles to work each way.3 33% of consumers search for local goods and services while at work.2 Often, consumers search for businesses near their work when at home – and vice versa.
Maximizing ROI
When looking at campaigns in the top 20% of lowest cost per conversion by vertical, over 88% have a target radius of 12-15 miles.4
- https://adwords.googleblog.com/2015/05/delivering-right-information-in-your-ads.html
- Ipsos MediaCT and Google; Understanding Consumers' Local Search Behavior
- Omnibus Household Survey; www.rita.dot.gov
- LocalBizNOW; 500 local digital campaign sample over a 90-day period ending 3/31/2017
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