8 Industries to Target for Local Digital Advertising in 2024

Political

Political digital advertising at the local level will be massive. BIA projects that local ad spending will increase by 2,028% in 2024, with digital garnering 22% of this. As a local media seller, you can offer candidates radio and digital ads. While radio ads for candidates must abide by Federal Communications Commission regulatory restrictions on pricing, digital doesn’t have these.

However, political advertising in the programmatic world is considered a restricted category. This designation means each state has different rules on what’s legally permissible. In addition, each DSP (demand-side platform), which is the environment where bidding and trafficking occur, also has guidelines. To capture these dollars, you’ll need a third-party digital solution that accounts for this.

Beyond the mechanics, you’ll also need a strategy to target political media buyers. It should encompass these things:

• Reengage candidates or PACs (political action committees) that have purchased ads from you in the past.
• Identify new candidates in your region, and reach out to them with a compelling VBR (valid business reason); pay close attention to races where incumbents aren’t seeking reelection, as these people need lots of awareness campaigns.
• Define how your local expertise and portfolio of options make it convenient for media buyers.
• Determine if your state is a “swing” state, which means there will be more national dollars.

In addition to programmatic campaigns, you can also present options for social media advertising. However, be aware that not all platforms allow political advertising, and know what their restrictions are. OTT/CTV is another key tactic — the fastest-growing one for local advertising, according to BIA.

The 2020 election saw a lot of money flow this way, and the options are even greater for 2024, with more streamers offering ad-supported tiers. Remind media buyers that streaming outperforms linear TV, so the audience they want is there. Since the ads aren’t skippable and can be targeted based on demographics, geography and interests, they offer more ROI.

Restaurants and Food and Beverage

BIA analysis notes that this industry will increase local ad spend by 17.2% in 2024. This has been a competitive market, with market share always up for grabs. Since consumers are less brand loyal, restaurants have the opportunity to convert them. It also helps that eating out is strong again, with 49% of restaurants reporting year-over-year increases in same-store sales in September 2023.

Takeout and to-go are still big drivers, as customers want convenience. The optimization of these channels is making this a trend that will stay indefinitely.

Another local digital advertising need for restaurants is recruitment. Many hospitality workers departed during the pandemic and found jobs in new industries. Others retired or went back to school. Those folks aren’t coming back, and a survey by the National Restaurant Association revealed that 62% of operators don’t have enough employees to meet customer demand.

Local restaurants need your expert guidance to acquire customers and employees. Targeted digital advertising can help them with either goal. One tactic to always propose for either is geofencing competitors to tempt diners and workers.

Real Estate

BIA also lists real estate as a fast-growing category for local ad spending. The market has been volatile for years, but the National Association of Realtors forecasts that 4.71 million existing-home sales will occur in 2024, a 13.5% increase. Inventory rebounding and mortgage rates falling are the perfect storm for a real estate boom. Real estate agents and mortgage brokers will need to be in front of those home buyers, and you can get them there with local digital advertising campaigns. Recommend display, OTT/CTV, social media and geofencing.

Retail

Insider Intelligence predicts that retail digital ad spending will increase by 14.2% in 2024. Retail encompasses a variety of advertisers. They all need the same thing — traffic to their stores and websites. Additionally, retailers are in the same position as restaurants and need more employees.

Help local retailers achieve their objectives with a 3-6-5 strategy — three tactics, six months and $5,000. The ideal tactics would be video display, social media and OTT/CTV. The social media platforms you suggest will depend on the ideal customer profile. If it’s Gen Z, Snapchat or Instagram are good options. For seniors, Facebook is the best.

Health Care

Health care is an industry that never stops spending, regardless of economics. The prediction for 2024 is $19.66 billion, a 10.5% increase over 2023. Every market has health care organizations, and every person needs it. Local health care advertising falls into several buckets:

• Patient acquisition: People have choices when it comes to providers, so they must market just like any other business.
• Brand awareness and credibility: Large health systems and hospitals use advertising to support perception and trustworthiness.
• Employment: The health care worker shortage is dire, with nurses the most severe. The Bureau of Labor Statistics estimates that the shortage will grow to 195,400 by 2031. There are also needs for physicians, office staff, administrators and other care team roles.

This vertical has a presence in your market. The needs will only grow, and local digital advertising can meet them. Depending on the specific needs and budget you uncover, ad tactics like display, SEM (search engine marketing), OTT/CTV, social media and streaming audio could be beneficial.