We are on the verge of something groundbreaking, innovative and industry changing. Standing at the crossroads of mobile and social, local search is about to get more interesting. In this latest online ClickZ article, Mobile: The Future of Location-Sensitive Advertising, Gregg Stewart discusses the impacts of mobile-social search for local businesses.

Yelp led the way with its “Nearby” mobile functionality, which allows consumers to find nearby stores, restaurants, banks and more, as well as sales and offers these local merchants offer (consumers can access these local coupons and offers via merchants’ profile pages). Similar to Yelp’s “Nearby,” Google’s “Near Me Now” application provides simple navigation for consumers to local merchants. Based on search queries, local search results are based on proximity and relevance, and each search engine results page features three Google AdWords paid listings. YellowPin took Yelp and Google’s visions a step further, allowing Facebook friends to share activities and whereabouts through text messages (for mobile platforms) or clicks (for PC users).

Based on these latest technologies, the importance of establishing, updating and optimizing your local business listings has never been more critical. And entering the mobile space is growing in urgency. Why? Not only is mobile the hottest emerging trend right now, but it opens the doors to sales — immediately. Mobile consumers are more likely to close sales within hours and minutes versus days and weeks. Think about it. Consumers accessing your local business information on the go are ready to purchase; they’re on the streets looking for you and are serious about making their purchases. Think immediacy.

If you’re new to the mobile market, now is a great time to test, as we’re still relatively early in the game. Also, media rates are negotiable, so find the mobile and/or social platforms that meet your vertical and ROI goals. According to Stewart, “As more local-mobile tools emerge, publishers will continue to monetize the space by charging advertisers for sales leads via clicks.” But since mobile users are consumers seeking telephone contacts, this is pushing the need for click-to-call pricing. This is not surprising since our Local Search Usage Study indicates that consumers prefer to contact businesses via telephone versus clicks.

I’ve said too much. Read Gregg Stewart’s ClickZ article for the full report.