From Greg Sterling today…
Here’s a general article on the local market from Business Week. Many people have seen it and emailed me about it.
It bothers me because it’s pretty superficial…
Here’s the reality, which BW either doesn’t fully “get” or seem to want to explore in sufficient depth:
- Local is about offline — money spent in physical places.
- E-commerce is <4% of retail; 95%+ percent of product purchases happen offline. Increasingly those purchases start online.
- 99%+ of service business transactions happen offline/locally (yet online is the place where more and more people go to find service businesses).
- People may communicate via Twitter, LinkedIn or Facebook to others around the globe but they live in physical places and when they travel they’re also in physical places, where they stay, eat, shop.
- SMB advertiser acquisition is hard, yes — no dispute there (see the last two years of blog posts)
- The central barrier to more geotargeted and local advertising by nationals has been the challenges of offline tracking in any given campaign
From Google disiple, Jeff Jarvis…
The promise of local ad support for news will come only if a new population of very small businesses can be served in new and effective ways – before Google beats everybody else to it. That’s apparent in the results of Webvisible and Nielsen surveys reported by MediaPost (via Marketeting Pilgrim and Frank Thinking), which show that local marketers are leaving newspapers and the yellow pages but are still dissatisfied with – and don’t pay enough attention to – internet marketing. Factoids:
* 42 percent of small businesses say they use the local paper less and 23 percent use yellow pages less – while 43 percent use search engines more.
* “Though 63% of consumers and small business owners turn to the internet first for information about local companies and 82% use search engines to do so, only 44% of small businesses have a website and half spend less than 10% of their marketing budget online.”
* “Only 9% are satisfied with their online marketing efforts.”
* Mediapost found a disconnect in how small-business owners act as business people and marketers vs. how they act as consumers. That is, as consumers, they use and are satisfied with the internet and search to find other local businesses, but as marketers themselves, they use online less.
The more creative and forward-thinking local small businesses keep finding Front Porch Forum in our pilot area. Most buy ads and report back remarkable results.
We’re proud to announce a new set of telecom specials made available to eligible Burlington Front Porch Forum members via Burlington Telecom. If you live in Burlington in an area served by Burlington Telecom and are interested in top-of-the-line internet/cable TV/telephone service options, please check this out. Also, existing BT subscribers can get special discounts via FPF on various upgrades.
As a recent FPF member said… “I can think of no reason not to sign up with Burlington Telecom as soon as possible… and now it’s even cheaper through Front Porch Forum.”
Every person who mentions Front Porch Forum when signing up or upgrading with BT will get their special deal and will earn a referral fee for FPF that will help keep our community-building service free of charge.
You can say a lot with a little. Witness Hemingway’s short, short story: “For sale: baby shoes, never worn.”
To celebrate 2009 and have a little fun, we invite Front Porch Forum members (any resident of Chittenden County, VT is eligible) to submit postings to their neighborhood forum between now and Jan. 9, 2009. Any message that has EXACTLY nine words will be entered into a raffle for the following 22 prizes…
Don’t delay! Post your “car for sale,” “seeking snow removal” or “lost cat” message today… or share a neighborhood resolution, poem, joke, hope for our nation… you decide. Any nine-word posting received by Front Porch Forum between now and Jan. 9 will be entered in the raffle! An individual may enter the drawing up to twice a day.
UPDATE 1: Posting a comment to this blog will NOT enter you in the raffle! You must post to your FPF neighborhood forum to enter the drawing.
Thanks to our raffle sponsors and happy 2009! -Michael
P.S. Thanks to Champlain College Professor Tim Brookes for inspiration (hey, that’s nine words!).
P.P.S. Trouble posting? Read this.
UPDATE 2: Here are some of the entries that are flooding in. And more. And here are the winners!
From Scott Heiferman…
Forbes: “The Watch List: Meetup.com. The bartering economy will expand. Local social networking communities will continue to thrive and help people connect to information, resources, ideas and employees. Meetup.com groups will be at the center of the burgeoning part of the economy. Entrepreneurs will tap these groups for goods and services and to form new partnerships.” (Maureen Farrell via Greg)
We certainly see high volumes of business being done through Front Porch Forum… and it seems to be increasing as the national economy sours.
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