The study showed that the recent growth in local media channels, combined with the transfer of local press values to local online platforms, offered advertisers an environment that was trusted, sought-after and acted-upon.
Local media advertising reportedly made people 123% more interested in spending in the brand's category compared to people who had not seen the advertising.
The results follow an examination of the cumulative effect of running campaigns across different local media by TNS Media. The survey showed that ads on regional newspaper sites was 77% more likely to be believed.
Month-long campaigns promoting four national consumer brands Virgin Media, Waterstone's, 'Pirates of the Caribbean: At World's End' and PruHealth, were run in four separate local newspapers and on their websites.
Tests conducted afterwards showed people were more aware of advertising in local media, trusted it more, and had a higher opinion of the brands when they featured in local media.
Robert Ray, marketing director at the Newspaper Society, said: "Trust is the primary issue today, not just for the media but for governments, financial institutions and most clients and their brands.
"We already know that people trust their local newspaper above all other media but we wanted to find out whether that trust is applied across all platforms, and how it relates to advertising contained within them.
"Now we know that local media online, and the advertising contained within it, shares the same qualities as the local newspaper.
Creative agency St Luke's has created an advertising campaign promoting the wanted ads findings, which will run across local media platforms and media industry titles throughout October.
Mark Greenstreet, managing director at Carat Insight, said: "I welcome any good research that throws light on how off and online media can work together. In this case the study shows how online can build on the trust shown for local print brands."
The wanted ads survey was a three-part research project launched by the Newspaper Society in April 2006 to uncover the role of advertising in the local media.