Local Corporation (NASDAQ: LOCM), a leading online local media company, today announced the launch of its second industry-specific, content driven website designed to further extend its reach and engagement with local consumers and businesses.
The company, which connects businesses with over a million consumers each day, plans to leverage these new industry-specific sites to further expand its reach into and monetization of local markets.
The new site, which focuses on heating, ventilation, and air conditioning (HVAC) , offers a complete HVAC service guide that includes educational articles and provides a variety of decision criteria for consumers who are choosing an HVAC service provider. The site also provides the ability to request quotes, access a comprehensive directory of local HVAC professionals, including contact information and, where available, user ratings and reviews. The HVAC industry is estimated to be worth $16.8 billion in the U.S. 1, and is forecasted to rise about 8 percent in 2012, and this growth is expected to continue through 2017. 2
Local Corporation expects to focus monetization of its new portfolio of industry-specific sites primarily via lead generation, as well as pay-per-click, pay-per-call, display and subscription ad units. The company plans to launch additional vertical sites in other key consumer service categories in the future.“This effort represents another step in our lead generation and overall performance-based ad strategies,” said Carlos Caponera, Local Corporation, senior director, consumer properties. “These sites expand our footprint and are expected to further increase consumer engagement and traffic, as well as improve our ability to monetize this traffic via lead generation. We’re also pleased to be providing consumers with a convenient, one-stop solution for receiving targeted information on the specific businesses and services that they need locally.” According to BIA/Kelsey, in 2011, 30 percent of all online searches were local searches, and were valued at $5.7 billion. The value of local searches is expected to grow by a CAGR of 12 percent to $10.2 billion and represent 35 percent of all online searches in 2016. Billions of new dollars flow into digital media from traditional and online advertisers in order to reach local consumers online, and the company expects these new vertical sites will assist the company in claiming a larger portion of this transitioning media spend.