If Nostradamus were around today he would likely be predicting big increases in the amount of local ad dollars being spent online, and why not? Everyone else has.

At issue is who gets those dollars, and so far radio is losing out. Radio currently captures less than 2 percent of all digital ad dollars, compared to 25 percent for newspaper web sites and 10 percent for TV station sites.

But in the ever-changing environment of local media, radio still stands a chance of increasing its share, and its best hope is in finding synergies with other media, notably the web.

It would appear a natural pairing, combining radio’s proven ability to reach large audiences and drive traffic to local retailers with the internet’s ability to target specific audiences while offering real accountability.

An interesting example of that is Archstream, which combines the two media to drive car sales.

Automotive has long been an important ad category for radio, but over recent years its share of auto ad dollars has fallen. Radio accounted for 10 percent of all local ad dollars in 2009, down from 12 percent in 2008 and 14 percent in 2007, according to Kantar Media.

Part of that certainly is the weaker ad economy, but no less a factor has been stiffer competition from other media, chiefly the internet. Car dealers have increased their internet advertising but not their overall ad budget, leaving a smaller share for radio.

Much of the diverted spending has gone to highly targeted web portals.

“Automotive web sites like Cars.com, Google, Autotrader and hundreds of other auto-related niche sites are focused on getting local dollars from local companies,” says Vic Savelli, executive vice-president and general manager of Archstream.

Archstream has set out to bridge the gap by licensing its online platform to local stations, which in turn sign on local auto dealers as advertisers to help them sell their inventory.

It works this way: The dealer’s inventory is posted to a web site, SaveontheLot.com. Rather than running ads for the dealer directly, the station promotes the web site.

To give the dealer’s inventory even more exposure, Archstream also feeds the inventory to other automotive sites, such as LemonFree.com.

Archstream provides dealers with a tool that makes it easy to post their inventory.

Car buyers, shopping by zip code, are directed to inventory in their immediate area.

Regardless of where the information is posted, all leads that are generated come back through the Archstream system and are credited to the local radio affiliate.

The advertiser can use that data to compare against leads generated by other media.

In the ideal world, platforms like that offered by Archstream could help boost radio’s share of online ad dollars, but Savelli notes that stations first have to make the commitment to find new ways of leveraging themselves with advertisers and listeners.

“If a traditional media company is really serious about generating digital revenue from the local market, it’s critical the station has personnel with expertise dedicated to the process.”