horsager
02-25-2007, 07:58 PM
A press release (http://www.kelseygroup.com/press/pr061107.asp) from the Kelsey Group says their annual forecast predicts huge growth in local search:
According to The Kelsey Group’s annual forecast, global local search* and online classified advertising revenues will grow from $15.7 billion in 2005 to $31.1 billion in 2010. The local search segment will grow from $3.4 billion in 2005 to $13 billion in 2010, with online classifieds growing from $12.3 billion to $18.1 billion during the same period.
While those are huge numbers, small business is a potential $60 billion annual market. News.com (http://news.com.com/Online+ad+sellers+think+local/2100-1024_3-5690651.html) does the math:
Yet search engines and other Net companies remain committed to the prediction that small businesses are the key to advertising riches. The reason for their optimism is a matter of simple mathematics: They see a $60 billion annual revenue opportunity that could be funneled at least in part to the Internet, a projection based on the local merchant's average marketing budget of $6,000, multiplied by an estimated 10 million small businesses in the United States.
Local search has huge potential no matter how you look at it, and it's a market that's largely untapped. What do you consider some of the major obstacles to local search reaching its potential?
According to The Kelsey Group’s annual forecast, global local search* and online classified advertising revenues will grow from $15.7 billion in 2005 to $31.1 billion in 2010. The local search segment will grow from $3.4 billion in 2005 to $13 billion in 2010, with online classifieds growing from $12.3 billion to $18.1 billion during the same period.
While those are huge numbers, small business is a potential $60 billion annual market. News.com (http://news.com.com/Online+ad+sellers+think+local/2100-1024_3-5690651.html) does the math:
Yet search engines and other Net companies remain committed to the prediction that small businesses are the key to advertising riches. The reason for their optimism is a matter of simple mathematics: They see a $60 billion annual revenue opportunity that could be funneled at least in part to the Internet, a projection based on the local merchant's average marketing budget of $6,000, multiplied by an estimated 10 million small businesses in the United States.
Local search has huge potential no matter how you look at it, and it's a market that's largely untapped. What do you consider some of the major obstacles to local search reaching its potential?