The seminar on increasing revenue through local SEO by Formic Media emphasizes the importance of local search, noting that approximately 20% of all searches have local intent and the significance of proper local listings. Key components for effective local SEO include claiming business listings, optimizing on-site elements, and acquiring user reviews, all of which contribute to higher visibility and trust. The seminar also highlights the potential for small businesses to leverage local search for increased offline purchases, showcasing the need for targeted strategies in online marketing.