I just came accross a site that really helps out with listing your business online for local searches. GetListed.org offers tools to start a local search SEO campaign. The most popular local search destinations are precisely the four programmed in the GetListed.org LocalDashboard: Google Maps, Yahoo!Local, BOTW Local and Live Search Local. Before a business spends money submitting to other local business directories, they should make sure they get listed in the directories mentioned above.
Local search is not a huge traffic driver, but it is a good starting point for SEO: statistically, about 70% of the users use a local search engine or directory when they look to purchase products or services. Local targeting enables businesses to go specifically after their “ready to buy” consumers. Local listings give visibility without having to spend a fortune on other search engine marketing campaigns (like pay per click, sponsored listings, etc.).