In 2007, local business spent 10% more on advertising than they did on promotions (e.g., coupons, discounts, and promotional products); however, in 2012, they spent a stunning 81% more on promotions, according to a new report by Borrell Associates.

The key to that change is digital promotions, Borrell found.

Even though local advertising is forecast to rebound in 2013—up an estimated 8% year over year, to $101 billion—that projected spend will still be 16% less than 2007 levels. Meanwhile, spending on local promotions is forecast to reach $176 billion in 2013, up 33% from $130 billion in 2007.

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ABOUT THE AUTHOR
image of Lenna Garibian
Lenna Garibian is a MarketingProfs research writer and a marketing consultant in the tech industry, where she develops engaging content that builds thought leadership and revenue opportunities for clients. She's held marketing and research positions at eRPortal Software, GAP Inc., Stanford University, and the IMF. Reach Lenna via Twitter @LennaAnahid and LinkedIn.