There was a time not too long ago when a search on Google for “ice cream parlor” done in Newark, NJ, would look pretty much the same as searching for “ice cream parlor” in Long Beach, CA. One would have to type in geographical specifics to something other than national or world-wide results.

Those days are behind us and both the search giants Google and Bing as well as many social networking sites have localized search to allow for more relevant results depending on GPS or ISP location of the device doing the search. The main reason is, of course, user experience; the more useful a service is, the more readily we will use it.

The underlying result, namely better revenue, is enhanced beyond simply making the service better. There is an amazing opportunity in localized advertising for those presenting local results. It’s the reason that Google took one of the most successful tech executives in history, Marissa Mayer, and moved her to local.

This infographic by our friends at MDG breaks down the financial and advertising components of the localized search evolution. Click to enlarge.