In The News
Search Engine Watch: ReachLocal Scores $55M Funding
Local search marketing firm ReachLocal announced a $55.2 million round of funding today, led by Rho Ventures.
VentureBeat: ReachLocal snags $55.2 million for local search engine marketing
ReachLocal, which helps small and medium sized businesses manage local search marketing, has raised a massive $55.2 million.
Kelsey Group: ReachLocal Raises $55.2 Million; Valued at $305 Million
ReachLocal, a provider of local online marketing solutions for SMBs, has raised $55.2 million in new financing. This is on top of the $12.7 million it has raised since its founding in 2004. The new funds give ReachLocal an estimated valuation of $305 million, since it was previously valued at $250 million.
Recovering Journalist: Feet on the Street
Great idea, this notion of offering local feet on the street ad sales for national players, and I blogged about it last December. As I said then, this is exactly what newspapers should be doing: Unleashing their local Web sales teams on behalf of—perish the thought—potential competitors.
Los Angeles Times: Internet firms eye search-ad revenue from small businesses
ReachLocal is using some of the money it raised to take a similar approach, sending salespeople into small businesses across the country to offer to manage their search-engine advertising campaigns. Those "feet on the street" efforts reflect how hard it is to reach the country's millions of small-business proprietors, who tend to rely on more traditional forms of advertising, and teach them about the benefits of online search, analysts say.
Entrepreneur.com: 15 Sites for Promoting Your Local Business
Website:ReachLocal . . .How It Will Help You: This site provides a central location for businesses to set-up, maintain and track local search advertising campaigns. Pricing varies.
DM News: Search Engine Guide: Local Search Is the Next Big Thing for Entrepreneurs
But while online advertising might be the rage for larger companies with fat marketing budgets, smaller, local businesses have been slower to jump on board. The reasons vary. Many don't yet have Web sites so they think it's pointless anyway; they don't have time to manage complicated search engine campaigns; or they just don't know how to get started.
Direct Magazine: Striking It Rich with SEM
He heard about ReachLocal through an old high school friend whose college roommate was an agent for the company. He checked them out, signed on for a first SEM campaign last December, and began seeing results right away. "Through mid-January, we invoiced about $40,000 in new business from first-time visitors to our Web site," he says. "I figure that cost us about $117 in ad clicks. And we've booked $70,000 in new business in the last six to seven weeks."
Primedia: Boom Times - Apache Oil Strikes Customer Gold
The first search campaign managed by ReachLocal netted his oil wholesaling firm about $40,000 in new billings from first-time customers, he says. And he points to $70,000 in new business during the last six to seven weeks as strong evidence that SEM will keep producing results.
DM News: Cutting Through the Clutter: Helping Local Businesses Choose an Online Advertising Solution
Local search technology has opened the door wide for local businesses to use the Internet to attract new customers. Thanks to "geo-targeting" capabilities, advertisers can aim their ads specifically to consumers within designated geographic areas, making online advertising perhaps the most cost-effective marketing channel for virtually any type of local business.
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