So, the classifieds are dead, and no one wants to advertise local papers any more because sales are dwindling, and it’s too expensive compared to Google Ads, or other forms of digital marketing. Jon posted a while back about his positive experience with the classifieds when he was looking for somewhere to live, but it’s hardly like the classifieds are about to have a resurgence. Isn’t it time local papers got creative with local advertising?

We’re always being told to find sustainable models for journalism, and about how local journalism isn’t being fulfilled by the local paper anymore, especially online. At the Guardian Weekend, it was suggested that there will always be room for hyperlocal blogs, and online communities though, and one panellist even went as far as to say that the local paper would be gone in ten years. I think it’s high time we stop pursuing print advertising, and local papers focussed their efforts elsewhere, if they want to survive.

At the recent London Web Summit, there was a discussion about the increasingly popular social, local and mobile markets (SoLoMo). Taking part in the discussion were representatives of companies like foursquare, and LivingSocial: companies that deal very much with local advertising, and make it work successfully. These aren’t ailing companies like most local papers.

While LivingSocial and Groupon territory may have been explored in local papers, and have originated in print, foursquare’s approach, or at least the approach discussed at the summit, was  more innovative and experimental: “we have this big userbase, so now let’s experiment with monetisation.” There was talk about targeted advertising, and working with local businesses to create special offers for regular customers – ie. become “Mayor” of Starbucks, and get 50% off all drinks there. Applying this to local papers isn’t easy, but targeted advertising online might be a start to make sure local businesses feel that they at least get the same accuracy for their spend as they might with Google Ads or Facebook.

Ultimately, it’s time to experiment, and this post wasn’t intended to discuss solutions, but if community driven companies such as foursquare are experiencing such rapid expansion and reaping reward from their innovative approach to revenue streams, there’s no reason why local papers can’t. They exist in the same sector. I see no point in ravenously pursuing a revenue stream that is failing to sustain local papers.

Image courtesy of Chronodrive.