Friday, February 13, 2009

Commerce as Information, Geography for Relevance

I could not be more excited to see that Adrian Holovaty has added coupons on EveryBlock. He now shows ValPak coupons on the mashups in the listings. There is a subtle importance here.

Holovaty gets the value of hyper-local. He sees the value in providing people information about their immediate community and sees the value of providing that content in the context of geography/maps. Now, he has begun to draw the important connection with commerce as information and geography for relevance. The average person does most of their living and consuming within 20 miles of their home. So, advertisements increase in value based in part on their proximity to the consumer's home.

Newspapers, who have thrived on classified revenue for decades -- more than any other media -- should see this value, but somehow continue to overlook it. TV stations appear to be oblivious as well.

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.