From the Local Onliner:
Nick Veronis, managing director of Veronis Suhler Stevenson, says [regarding local online]… that it is a very good time for entrepreneurs to raise money and monetize their local investments. But the climate is not so golden for investors. “Valuations are very high right now,” he says.
Peter Krasilovsky reports today about Yahoo Exec VP Hilary Schneider’s keynote at the Kelsey Local ’07 conference this week. Schneider…
emphasized that the company is really zeroing in on local to play a major role in Yahoo’s growth plans. Local search’s share of overall search within Yahoo went from 11 percent to 14 percent in 2006, and local search itself grew 28 percent in the last four months, per ComScore.
Yahoo divides local as:
Further:
Yahoo Local itself is pretty well built out, with 6,000 city pages and 80,000 zip codes. But it only has 600 neighborhoods. “There are obviously many more than that,” says Schneider. “ We have a long way to go.”
Yahoo looks at the local market as:
That title is a clever quote from Britt Blaser’s latest post. Thanks to David Weinberger for pointing in that direction. Blaser writes:
The People Law trumps the Power Law. There are five principles I’m playing with lately:
1. The size of your audience confers limited power
2. A network’s value is the square of its nodes (Metcalfe)
3. Network nodes are significant only when they’re verbose
4. Most conversation is among nearby nodes
5. Only interactions count, and the richest count most
I recommend a visit to check out the charts and graphs and his detail… good stuff. Most of these points jibe with what we’re finding with Front Porch Forum. E.g., under point three he states that the purpose of online social networking is face-to-face interaction. That’s what Front Porch Forum is all about… and it works because the people on the online network by definition live in the same neighborhood.
Looks like a great event shaping up next week… all about local online: DRILLING DOWN ON LOCAL ’07 – The Annual Silicon Valley Summit. Organizer Peter Krasilovsky blogs about it here. Most of the mainstream heavy hitters appear to be on the agenda. I wonder how many locally based entities will attend and/or speak vs. national and global efforts that deliver “local” from afar?
Put another way, how much “local online” is delivered by local business (and other entities)? Might be an interesting question for the good folks at the Business Alliance for Local Living Economies, the Institute for Local Self-Reliance, and my friend and author Michael Shuman (Going Local, The Small-Mart Revolution).
Regardless, I wish I could be there next week… sounds like a powerful conference.
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The local Fox affiliate in Dallas and local online favorite Pegasus News enjoyed a brief courtship recently. However, as they planned the wedding, Fox’s parent (Fox HQ in NYC) balked at an item in the pre-nup and nixed the whole affair. Alas.
However, Pegasus offers an intriguing glimpse (as well as the Local Onliner) into the details of the proposed partnership. This is one model of how local established media can work with new local online efforts, focusing on sharing content and driving traffic to each other (no revenue sharing).
Thanks to Dan Gillmor for pointing out what he labels “a must-read for anyone who cares about the present and future of journalism”…
The Project for Excellence in Journalism has issued its annual State of the News Media report. This year’s identifies seven major trends.
The seven trends are:
Each week brings another neighborhood forum or two across the threshold of success… very exciting for Front Porch Forum.
Now we’re seeing a rise in demand for a secondary service across neighborhood forums. E.g., a woman lost her dog and posted the message on her neighborhood forum. An hour later, a different person posted a note in an adjacent neighborhood forum saying she had found a dog of the same description. Should we have formal way of making that connection?
In this case, informal took over. People talk about what they read on their forums… it’s interesting micro-local stuff. So folks talked over the water coolers or via email or whatever and within an hour or two the connection was made and dog and owner were reunited… a great happy ending.
We’ve also seen examples of an issue occurring at the intersection of multiple neighborhood forums. The topic is raised on all the relevant neighborhood forums, but it only really catches on in one. After a dozen postings, that one neighborhood has moved the issued forward… but what about all those people in the other neighborhood forums?
E.g., Burlington is looking at reworking the very steep block of Cliff Street between S. Willard and Summit Streets. An announcement was posted on the Summit, South Union and DeForest neighborhood forums… but only the DeForest members have really delved into the issue on their forum. Should we have some mechanism for connecting those neighborhoods around this issue?
There’s a technology fix for this kind of thing, but I’m afraid any increase in complexity will move Front Porch Forum from a widely adopted service to one that is only accessible to the tech elite. So, we have four solutions to offer now:
1. Informal… a member of one neighborhood forum asks a list of folks across other neighborhood forums to each post his message to his/her forum. This approach is being put to good use now. This carries the added benefit of the messages coming from a resident of each neighborhood instead of being broadcast by some likely unknown “outsider.”
2. As a participating local official to post the message across all forums in his/her district. This is also used, and, while easier to implement, is in turn a notch less effective.
3. Nearly every neighborhood forum has one or more Neighborhood Volunteers… essentially forum boosters. These folks are knit together across the county by an online forum too. So, a person could become a Neighborhood Volunteer and then share their message with the 200 or so NVs and ask them to pass it on on their forums.
4. We’re developing a message-for-a-fee feature, something like a classified ad, whereby members will be able to post in other neighborhood forums (in a very limited way) for a fee.
The majority of Front Porch Forum members that we talk with list the small scale of their forum as a leading attraction… “how could I not subscribe to my neighborhood’s forum?”… especially when the forum area includes just a few hundred nearby households.
That said, some areas are difficult to parse into reasonably sized neighborhood forums, e.g., tightly packed urban areas and thinly spread rural locations… where does one “neighborhood” end and another start?
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We also are finding that while most of our now 4,000 local subscribers are happy with the service as is, some would have us rework their neighborhood forum’s boundaries… bigger, smaller, cut in two, join with the next one over. In fact, in some forums we hear each of these views from various members. That doesn’t make them invalid – no, no. All of this feedback is important and we’re soaking it in and working toward the best next steps we can take. This is the case in Charlotte, VT where we’re hearing every different angle.
Also, the ONE East Neighborhood Forum in Burlington has seen a surge in popularity and now has more than 200 households on board out of about 1,000 homes there. The 200 are great… it’s the 1,000 that’s too big. People tell me that they don’t know and don’t imagine that they’ll ever meet many of the people who post messages… 1,000 seems too big of an area for our mission of helping neighbors connect and foster community within the neighborhood.
The Local Onliner shared some great tidbits this week from the Inland Press Association (IPA) meeting:
Most newspaper Web sites have been focused on driving new audiences, but McClatchy sees a gold mine in its existing print circulation. How many local media outlets have 40 percent penetration in this age of fragmentation? [McClatchy] noted that 70 percent of the print audience never touches the Web site in a 30 day period.
And I like this approach to forming strategic alliances:
As for forming partnerships with various Internet players, Hendricks [McClatchy executive] is all for them. You can’t look at these people as enemies, because they are the environment, he says.
Finally, some interesting details from Boston.com about local online:
Also speaking at IPA, and again, fully blogged by Owens, was Bob Kempf from Boston.com. I’ve written extensively about his efforts, but Kempf reveals new details of research showing why Boston.com is focusing on becoming a local information hub (watch out Yellow Pages!). Only one in three users and one of five non-users are happy with their current options for finding local information, he says. But access to local information doubles the likelihood that non-users will visit Boston.com. The research also found that 50 percent of users like the idea of getting all their information in one place.
I’ve heard from many Front Porch Forum subscribers that they love turning to their neighbors for a wide variety of local needs through their forum.
Ghost of Midnight is an online journal about fostering community within neighborhoods, with a special focus on Front Porch Forum (FPF). My wife, Valerie, and I founded FPF in 2006... read more