Local advertisers sending cash to Google and Yahoo!

The Friday New York Times featured a front-page article on the advertising enormity that is Google and tells the familiar (to us) story of search advertising and how much money Google and Yahoo! are making from it. As the article points out, however, this money comes from a wide variety of places.

As for local advertising on radio and television and in newspapers, those media can still be effective ways to blanket large portions of the hometown audience with a uniform message. But individually focused Internet ads are already siphoning business away from locally oriented classified advertising and yellow pages directories — whether in their offline or online forms.

And as the Internet occupies an increasing part of the modern consumer’s discretionary time, all the other forms of media advertising will probably have to adjust.

“You’re seeing advertising move into advertising that people can seek out, and moving away from mass advertising,” said Peter Sealey, a former Coca-Cola marketing executive who now teaches at the Haas School of Business at the University of California, Berkeley. “In the context of that shift, this little niche of Internet search will be a huge beneficiary.”

As other forms of advertising “adjust,” it means opportunity for some and trouble for others. Broadcasters need to take note.

More: Jeff Jarvis asks, “Should Google be the citizens’ ad agency?”

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