Why U.S. Brands Lose $2.4B A Year From Local Invisibility

Why U.S. Brands Lose $2.4B A Year From Local Invisibility

Explore the Local Visibility Index (LVI) results and understand the cost implications of not meeting localized marketing standards.

A localized marketing approach can unlock significant growth potential for your business ā€“ but it can also be highly competitive.

So, what will it take to raise the bar and outperform your competition? How can you avoid missed revenue opportunities and maximize your brandā€™s visibility?

On May 31, I moderated a webinar from SOCiā€™s Monica Ho, CMO, and Damian Rollinson, Director of Market Insights.

Ho & Rollinson presented the results of the Local Visibility Index (LVI) and uncovered how costly it is to fall short of the high standards required for localized marketing.

The Local Visibility Index: Results & Trends For 2023

Letā€™s dive into the 2023 findings, exploring the significant outcomes and patterns observed.

Local Visibility Index Results & Trends

The average U.S. business:

  • Is virtually invisible in 2 out of 3 local searches.
  • Ignores 92% of customer questions posted to their Google profiles.
  • Doesnā€™t respond to 54% of their consumer reviews, failing to address complaints and, worse, thank consumers for their feedback.

This invisibility costs your business $ 2.4B in the US retail industry alone.

What The Trends Show

Brands show the most robust 2023 performance in search and the most significant opportunity in reputation.

  • LVI leaders grow 2x faster in revenue than peers.
  • Social is the most extensive growth area.

Search & Reputation Highlights

Businesses perform well when claiming and completing their profiles on both Google and Yelp.

n addition, brands still struggle to utilize local business schema on their landing pages.

Social Highlights

Urge your consumers to follow your local store pages on Facebook.

Building local audiences on social media fosters loyalty and repeat business.

Boost Search Visibility, Local Reputation & Social Reach

You must follow clear steps to boost search visibility, local reputation, and social reach.

How To Increase Search Visibility

  • Increase 3-Pack presence through Google profile optimization.
  • Claim and optimize all other key profiles on sites, like Yelp and Facebook.
  • Create informative, properly coded local landing pages.

How To Boost Local Reputation

  • Respond to as many reviews as possible, on all platforms.
  • Respond promptly to all reviews, ideally within 24 to 48 hours.
  • Use reviews as a source of consumer feedback to improve the operation.

How To Grow Localized Social

  • Encourage page followers to build local audiences for every store or office location.
  • Post at or above benchmark frequency each month to engage local audiences, utilizing photos and video.
  • Create engaging, informative, and helpful content to keep audiences interested.