Part 1 – The Future of Local Media: Background

This is the first in a series of posts on the future of local media that in the end I will aggregate together to produce a short whitepaper. My goal is to share my thoughts as well as pull together insight from many others into a synthesis or “fuller view” of what the future of local media might look like in 3-5 years time. We will also start to develop a useful blueprint or roadmap for local media. This is an ambitious undertaking for me but one I am determined to tackle.

The impetus for this series of posts comes out of the insights and debate we recently had at The Local Social Summit in London (more on this event later). This along with debate and comments from many other commentators around online media echo similar ideas (For example: Jeff Jarvis | Martin Langeveld | Sebastien Provencher | Greg Sterling and many others that I will link and refer to as we go ). So, I figure its time to pull together my thinking and lay out some predictions.

I am not alone in thinking the next 18-24 months will continue to be very interesting for local media. We will  see more rapid changes to how consumers access local media and lots of evolution on the social side. I also can see a revolution in business models approaching…

Looking Glass Concept - very cool & from Japan

Here’s the initial outline of what the series will cover:

• Background
• Challenges for traditional media companies
• Broadly how online changes the rules
• Features and functions for consumers
• Business models
• Scenarios and Examples
• Summary

By local media I am talking about online digital media that covers local geographic areas usually at the county, city and town level (but is can be as wide a single country if it’s a small one like say Ireland; and it can be smaller all the way down to hyperlocal – ie, a neighborhood). This is the traditional realm in the offline world of local newspaper, the yellow pages, local broadcaster, classifieds, radio and even some magazines. Online we have these same players plus lots of pure plays like Google, Yahoo, Yelp, TrustedPlaces, Qype, Local People, Ireland.com and many others. I should also add that much of what I will discuss is applicable to other online media types and should translate very well for niche and verticals.

I will get more into the challenges for local media in the next post but I want to seed this thread with the concept of how online ‘flattens’ the world for digital media. By flatten I am talking that once online traditional offline players now often compete with everyone and can easily move into new territory. Google of course is an example of this in that they offer news, local listings, maps, video, etc, etc. Another example is a local newspaper can now easily offer local news video content. The offline tradition of a media owner helps define its area of expertise, business model and content but once online this matter less. I am going to call this flattener number 1 “universal competition” – you compete with everyone and anyone can compete with you. Additionally, I see 2 other key trends that flatten the landscape further (1) access to cheap/free publishing tools to anyone – including video; and (2) user control (not just user-generated content.

To summaries my top 3 flattening trends are:

• Universal competition
• Ubiquitous access to publishing tools
• User control

In part 2 – I will outline the challenges I see for local media online.

Local Social Summit ‘09 – a success, links

The Local Social Summit which I co-organised with Simon Baptist has been hailed a success despite the rain . The general feedback was that it rated 8 out 10, although I would give it a 7 as there were a few things we will improve next time we run the summit.

Next time I would like to include:

• A vertical/classified panel
• Set of case studies
• Demo zone

Over the next days and weeks we will be putting together some video and deeper analysis of the discussions and insights from LSS ‘09. In the meantime you can find all the slide decks here. For me the “140 character” highlight moment was when Bernie Hogan said:

The death of distance [due to the Internet], ummm NO!

Other blog posts on LSS so far:

• Facebook users talk to just 4% of their online friends
• Volker’s Blurb: Local Social Summit London

Update: Here as link to all the slide decks from LSS ‘09.

The Future of Local Media – at #LSS09

Note:  most of this post was cross-posted on the LSS blog.

One of the sessions at Local Social Summit ‘09 (btw – Here’s #LSS09 on Twitter) that I am very much looking forward (all the sessions will be good, but this one will rock) to is an interactive lab session being run by Praized’s Seb Provencher. The session is called: What does the Perfect Local Media Company Look Like in 5 Years Time. This lab should draw upon Seb’s excellent white paper – “I Have Seen the Future of Local Media” – from earlier this year.

At dinner last night we had a lively and interesting discussion with both Seb and Greg Sterling about this topic. The general consensus was that most traditional local media companies are quickly running out of time to start planning for their future. Greg also blogged about our discussion earlier today.

Our discussion around the future of local media seem to echo many trends and predictions that even Google’s CEO Eric Schmidt made last week at the Gartner Symposium/ITxpo Orlando 2009. The RWW team pulled together this very good 6 minute highlight video chop of Mr. Schmidt’s interview. Here’s the RWW post: Google’s Eric Schmidt on What the Web Will Look Like in 5 Years (well worth a read).

Below is the presentation Seb will run through during the lab tomorrow:

Local Social Summit: Connecting with Consumers where Local meets Social

I am one of the creators and thus organizers of what is shaping up to be an awesome conference next month in London at the ICA. For anyone interested in the intersection of local media and social networking this is an event not to be missed. The event microsite has the complete agenda and more details…  Here’s an overview of the event:

Local Social is an invitation-only summit for leading media owners (directories, news, TV, radio and social networking), retailers and advertisers who are driving digital innovation in the local and social media space across Europe.  We think this “local content meets social media” is an important area, and one that is under-explored.  The conference will look to open up debate across multiple industry sectors. With a focus on what works and what trends are emerging as local and social media continue to change how consumers engage with brands, content and each other.

The line up of speaker and panelists is shaping very nicely:

• Andrew Burke, CEO Amino Technologies
• Dr Bernie Hogan, Research Fellow at the Oxford Internet Institute
• Greg Sterling, Internet/Mobile Analyst
• Jonathan Ewert, Co-Founder Skepsis Group
• Seb Provencher, Co-Founder Praized Media
• Sokratis Papafloratos, CEO TrustedPlaces
• Dave Ingram, CEO Brownbook
• Felix Petersen, Founder Plazes.com (Nokia)
• James Brown, CTO Cloudmade
• Paul McCrudden, of the #6weeks project fame
• Simon Greenman MD – Online, European Directories

I am particularly looking forward to Bernie Hogan’s (Oxford Internet Institute) talk on Facebook social networks and how to make sense of  it or now in this era of data feed overload. All the panels will be excellent for sure. There is a Social Media Marketing panel that is being moderated by my pal Mike Weston (Sandline blog). And we have the great blogger/Internet analyst Greg Sterling (Screenwerk) running two panels that will be world class.

At last count there were less than 30 spot left at this invitation only event. As a reader of my blog (all 5 of you) consider this an open invite and if you want to attend please sign-up here on eventbrite (and do it quick).

Here’s a glance of the agenda:

Agenda at a Glance -

Keynotes:

• “The Opportunity of Social Media”
• “Making sense of the networked audience: The case of Facebook”

Panels:

• Local Search & Monetisation – The View from Europe
• Local Gets Social – The Impact of User Generated Content and the Promise of Real-Time Search
• Social Media Marketing – The Rules are Changing
• Mobile – The Future of Apps is Bright

Plus a Lab looking at “What does the Perfect Local Media Company Look Like in 5 Years Time.”

Hope to see you there. It should be awesome. In the meantime if you have any questions or suggestions let me know.

Three Short Links: 06 July 2009

Here are a few interesting posts and links for a Monday. btw – Happy belated 4th of July to all my American friends…

1. A New Venture Firm’s ‘Secret Plan’ – interesting short piece on NYT worth a read, be sure to check out Marc Andreessen’s comments.

2. It’s Here! iTwitter: The First Twitter App to do Push – another reason for me to get that iPhone and quick…

3. TrustedPlaces’ CEO on LocalPeople – a short interview with the CEO of UK based TrustedPlaces about the new local search partnership in the UK with a newspaper group. This deal/move looks very smart and I will be watching to see how it goes. In the UK market, I am a firm believer that ‘local’ is still an open space waiting for better services to emerge and that there is still lots to play for.

Also, have to plug the sweet post Greg Sterling did – FB v. twitter -  about our social media marketing case study. Be sure to check out the comments as there useful additional info in there as well.

Another Social Media Slideshare Deck

Ok, maybe we are going a little bit social media mad here on MediaViking island. We can’t help ourselves with Twitter growing faster than a Saturn V rocket on the way to the moon. Plus all the good research/discussions going on around how we converse, tweet and retweet as well – and somre more here and here. This all adds to our conviction that we still have a lot to learn about how socia media works and its going to be fun.

So, I was out pitching another social media marketing project to a very interesting high street shop. Well its more than just a shop and it should prove to be a great vertical case study and successfulon social media… But I can’t say anymore yet in order to protect the innocent. As part of this pitch I threw together a very rough and ready intro deck to socail media and an outline pilot plan (note:  some slides have been edited out).

In the spirit of the new socialism I am posting up this deck to share:

Cheers to Social Media – a social media marketing case study

Back in March my colleague Simon B and I spent some time promoting a beer festival via social media. We took on this project with the specific goal of experimenting to see if social media, and in particular Twitter, could be successfully leveraged to drive people to a real world event. Cutting to the punch line, yes we were successful.

We have now published a short case study on the results of this social, which you can see below or by going directly to Cheers to Social Media on Slideshare:

One of the key findings was that there is a positive Social Media ROI. For this campaign (or event) we managed to drive:

• 63% of attendees were a result of Social Media Marketing
• £571 revenue per 1 hour spent on Social Media
• £11.41 for each £1 spent (=11x ROI)
• 5.6% total cost of sale for revenue generated by Social Media

We also believe the ROI can be significantly increased by deploying ‘emerging’ Social Media best practices and development of better tools to manage campaigns and review data (ie, a social media analytics work bench).

The primary lesson was that with attention at a premium,  Social Media does indeed provide a great platform to ensure the success of marketing campaigns and in this case a real world event. In particular Twitter and Eventbrite proved cost effective and easy ways to drive awareness and consumer actions (e.g. attendance, footfall, purchases ).

Interesting to note that Facebook underperformed on what we expected. We also found that social media magnifies the value of search, at least for something very time based (ie, event).

For the event microsite we had 3175 unique visitors  during the promotional period and the traffic sources were as follows:

• 61% search (Google 58%)
• 24%-38% social media (*estimated low end of 24% to as high as 38%)
• 4% blogs

As a follow-up – “sort of  real time mini case study” – we are finding that social media again is proving a powerful way to drive awareness and interest in the actual case study!

Cheers To Social Media is currently being showcased on the ‘Business & Mgmt‘ page by our editorial team [slideshare] …

An additional proof point for success if using social media – here’s the screen grab is below.

Retaggr is Cool – business card 2.0

Retaggr is a new entrant to the Web 2.0 widget space and is well worth trying out. I am lazing tonight so I am going to point you to Mashable that has a nice review of the site – well worth a read. I have setup my own retaggr acount and will post again once I’ve got it configured..

Other Blog Posts Worth a Read – Spot Runner, etc

Well, its another week or so since my last post and April was pretty low month for both the number of posts and the quality from A Fuller View. Lets see if the Arpil drought can bring some May sprouts…

Scanning around the blog-o-sphere here are some posts that I think are worth a read:

• On Screenwrek – Spot Runner just raised more money and this round included money from UK based Dail Mai Group (which is intersting).
• Buzz Machine – his Guardian column from last week. All about an interesting wine guy’s brand and what this means in the world of social media: “Your personal brand is now completely exposed to the world, 24/7. Everyone is media now.”
• AdViking – our sister site posts about the $300M deal for Adify. Wow that’s a lot offly paper.
• On Razorshine some intersting thoughts on Firefox 3 and much needed delicious plugin.
• RWW alot of traffic on myspace US. I wonder how much of that is search driven?

What else is on my mind? Well I need to finally blog about Venice – I have some notes stuck on my mobile Windows device that I can’t seem to easily get off (I am not a fan on Windows Mobile and my Palm Treo at the moment). I am aslo thinkming about the transient nature of instant messenger platform use and churn and what this might mean for socail media. But mainly, I am thinking about how nice it is that summer has arrived in London – at least for the moment.

Fun with Twitter

Ok, I am now convinced I have to re-start using and posting to Twitter! RWW has a nice piece on ways to have fun with Twitter.