Watch the recording here!
On Wednesday, May 12th, leading journalists and marketers from TEGNA, one of the nation’s largest local media companies joined The CMO Club for a conversation about “The Local Renaissance” – a convergence of trends creating a culture where Americans are more focused on local communities than ever before. Here are some highlights from the discussion.
Americans are spreading out
- 15% of US adults moved during the pandemic. (source)
- Americans are moving away from large city centers into nearby suburban areas, where they can have more space for less. (source)
- 21% more Americans plan on moving in 2021 vs 2020. (source)
- Backed by the desire for more space, the maturing of millennials into the nesting lifestage and a booming remote work industry, this “New American Migration” is having significant impact on the way Americans live, work and play.
Americans are more engaged with their local communities
- During quarantines, Americans could not socialize at work, could not visit friends in the way they used to and therefore focused on relationships and events happening right in their own neighborhoods and surrounding areas.
- Local TV news viewership spiked in 2020 (source)
- Two in three Americans supported the protests about racial injustice (source)
- 56% of consumers are shopping more locally (source)
Marketers must overcome challenges to benefit from the local renaissance
- We are experiencing a time of widespread mistrust (source) forcing brands to be hyper conscious about where their messages are running and who they are placing media dollars with.
- Consumers are overwhelmed by the current ad ecosystem (source) making it critical for brands to be very intentional about their creative.
- Localized marketing can be difficult to implement (source) but having the right partners and local experitise at hand can turn challenge into opportunity.