Monday, February 09, 2009

N2.0 Speaks to the Future of Local

I have been re-reading "Newspaper Next 2.0" and highly recommend that anyone in Local Media read it as well. There is a paragraph in the summary of the document that speaks to what I have posted previously and recommended to others repeatedly in the past five years -- Local media needs to go after SMBs if local media is going to compete with Google and Yahoo/MS. The quote:

"Progress in developing ways to open the vast "low end" of the business market -- small and medium sized enterprises -- is agonizingly slow. Although this segment represents the largest growth opportunity in local markets, newspaper companies continue to use traditional ad offerings and sals structures in their attempts to reach them, with only moderate success. Better answers are needed."

While this statement speak to newspapers, TV stations have done little or nothing to go after SMBs in any meaningful way. Now, they are going to feel the pain more than ever since local TV stations have lost billions of dollars in auto-related ad revenue. Even though local ad spendings is slowing, local media can't expect big auto money to ever return to its past heights, and so needs a local ad strategy that includes SMBs.

No comments: