One of the major challenges of digital media has been the development of a business model for hyper-local distribution. Here is a review of the state of the art.
Newspapers or magazines buy a mailing lists that blankets a small town or region. This is expensive. Content is even more expensive. If readers throw the paper directly into the waste can, it is also wasteful for both advertisers and publishers.
Digital giants like Google, Yahoo, Microsoft, AOL, and Facebook have tried to saturate the coverage of a local zone. Yelp, Groupon, Twitter, and others don't have the scalable models for success. Even with their massive global reach, no media has been successful with replicating the distribution reach of a purchased list.
However, users do opt into digital. Thus there is less waste.
Tourism and Hyperlocal
Regional media serve two purposes: tourism and hyperlocal.
Since the former exports content to a global community, the digital asset can be far more successful than any printed products - as evidenced by our large community of 1,500,000+ downloads.
In servicing the imported information needs of a local community, digital has not been able to build the concentrated community that a local business wants as its primary buyers. Note that local businesses do represent 80% of the advertising buyers.
The content-development, technical, strategy scaling, distribution, local training, marketing mindshare, business momentum, and other issues present formidable hurdles for success. Is that why even the largest of web properties have failed?
Keys Moving Toward Hyperlocal
Smartmobile is fast becoming more pervasive than mail boxes. In some areas, this statement is already true. Our success is first-hand testimonial to this tsunami.
As one of our many research projects, we're extending our SoMoLo strategy toward local. Keys makes local apps interesting for mobile users. Local partners will co-promote Cotswold in the UK and Santa Barbara in California.
We believe this is a medium term project where first-movers will be rewarded. Slow adopters, like legacy media and web consultants, carry too much luggage to succeed with this fast moving train.
Join us to overcome these challenges.