Thank you very much for your question
Now as a digital marketer I SHOULD say, “No, don’t do it, spend all your money on a digital marketing approach, it’s the future don’t you know, don’t you know”.
But that can very well be total rubbish, as advertising in your local paper has so many other advantages that you may not have thought off and can very easily be a better choice than Digital Marketing.
If you can imagine for a second how you view a business that is currently placed in a local paper vs a company that appears on Twitter.
What are your first thoughts about that company? I can imagine you can see it as an established business, why? Because only established businesses can afford the advertising in a local paper.
Is it reliability? Because surely only reliable companies would be confident to spend their money on local advertising.
Is it familiarity? As there may only be one or potentially no other competitors in that marketing space, they trust the paper so they trust you. You could very well be THE local expert.
For all these reasons, local advertising in a paper can be so much more effective that digital marketing because you are establishing your business as an authority and the local expert without even saying it.
That is not to say that it works every time and the same approaches to designing your ad should be applied if you were to create ads for social media or landing pages for your PPC campaign.
Never just rely on the fact that you have an ad, always make sure that your ad leads your customer to an action.
If you are a local real estate agent, offer in your ad a free valuation assessment or a free consultation to invoke a reaction.
If you are a local plumber then provide a free call out charge for people using a coupon code.
Whatever you do, make sure that your ad has something that evokes the customers towards an action.
Now onto price..
I had a meeting with a local architect recently who I was building a website for. I mentioned that maybe he should consider advertising in the local paper and he said, “Local paper! I can’t afford that.” Curious, I delved a little deeper and found that his initial price assumption was actually three times more expensive that the actual cost.
So, maybe play a game with yourself and guess how much appearing in your local paper is and then give them a call. You might be surprised at how much cheaper it actually is.
And if you are surprised, then your original perceived value can be translated onto your customers in the decision-making process to buy from you.
I hope that answer goes some way to answering your question.