The Local Web
From the post:
"But if local TV is about local advertising, to where will local advertisers turn in a world of diminishing relevance for broadcasting? This is a question of profound implications, but it's one that ought to give all local media companies hope for the future, for the real growth in internet advertising over the next decade will be at the local level. And the evolution of local media on the web will, once again, be about the evolution of local advertising.
Key to the development of a local online ad market is the identification of the local web, and this offers a remarkable opportunity for those willing to explore this territory today. In the not-too-distant future, everyone will have access to the local web, but this access is unavailable today, because the database hasn't been created. It exists in bits and pieces, but no technology can replace the human research necessary to build the initial database. This is a task that will pay huge dividends to the one who creates it, market-by-market, and there's no reason this can't be done by a local media company.
Local advertisers want to reach local consumers, and historically, this hasn't been easy online. The web offers so many options and so much flexibility that the numbers of users at the local market level just haven't been there to make an advertiser-driven business work. Technology is changing this, however, because the web — and especially in the Media 2.0 world — is much more about direct marketing than it is mass marketing. If advertisers know where local users have been, they can reach them anywhere they might go."