This is the first phase of a longer term strategy by Local.com to capture share in the emerging local video market. The Kelsey Group forecasts that this market will grow to 747,000 video-enabled small and medium-sized businesses and $1.5 billion in revenues by 2012.
The current implementation incorporates geo-targeted video ads from Jivox, an online video advertising service for local businesses. Local.com plans to aggregate geo-targeted video ads from other providers, before ultimately selling video ad units to its growing base of direct Local.com advertisers.
“We believe that video advertising provides consumers with relevant, timely information about local businesses, products and services. It’s natural for video to be integrated into our local search ecosystem over time” said Kim LaFleur, Local.com vice president, product management. “Local video bridges the product gap that exists between businesses that advertise in print, but perhaps don’t have the budget to move to television advertising yet, and unlike TV advertising, ROI is fully trackable. We plan to incorporate additional video capabilities and syndication to our network next year.”
“Jivox video advertising is one of the easiest ways for small businesses to reach local customers online, and partnering with Local.com significantly increases our ability to match advertisers with local consumers on the Web,” said Diaz Nesamoney, founder and CEO of Jivox. “With Jivox, advertisers can precisely target customers in a geographic area and soon based on contextual results, further increasing the effectiveness of their online advertising campaign.”
Local.com (NASDAQ: LOCM) is the largest local search network in the United States. The company uses patented technologies to provide over 19 million consumers each month with the most relevant search results for local businesses, products and services on Local.com and over 700 regional media sites. Businesses can target ready-to-purchase consumers using a variety of advertising products. Local Mobile™ provides local search results to mobile phones and wireless devices. To advertise, visit http://corporate.local.com/advertisewithus or call 1-888-857-6722. For more information visit: www.local.com.
Jivox helps small businesses reach local customers with online video advertising. Jivox provides advertisers with an online, self-service tool to create high-impact video ads using stock footage, images, music or their existing video assets. Jivox ensures high-quality placement of customer ads through the Jivox Publisher Network, a locally focused network of premium publishers that includes hundreds of local TV and radio stations, newspapers, weather and other specialty websites, and offers geographic ad targeting at the city level as well as demographic and contextual targeting. Jivox is a privately held company based in San Mateo, Calif. For more information about Jivox, please visit www.jivox.com.