Online media with its lead generation and interactive characteristics should be a particularly good vehicle for local advertisers. In the general market local online advertising accounts for an $8.5 billion slice of annual business, dwarfing the overall Hispanic online advertising spent and, even more so, the local Hispanic online ad-spend. As Terra’s Michelle Azan notes “there are many opportunities for local retail stores to take advantage of the excellent targeting tools that interactive media affords. However, we have not seen retailers using geo-/local targeting as much as they could. However, local and regional auto dealerships are using this local approach more.”
Univision, the publisher of Univision.com, owns hundreds of local radio and TV stations. However, only 10% of Univision.com’s advertising is local, says Univision.com CEO Javier Saralegui, Among the main challenges to sell local online advertising he cites that few store owners targeting Hispanics have websites and that many local business owners are not familiar with the online vehicle. In addition, often Univision radio and TV sales representative don’t know or don’t have the right incentives to sell online advertising. Impremedia’s launch of its new unit Impremedia Digital later this winter, should give a substantial push to the Hispanic local online advertising market. On average, up to 70% of a newspaper’s business originates in local advertising.