Anders Stenbäck, Business Development Manager at Hesingin Sanomat of Finland explained the secrets of making money from hyperlocal, in this case with a mapping/directory product called My Own City which answers such questions as where to find a good restaurant/plumber/tailor/hairdresser etc.
But also things you might not expect from a directory including where to find free Wifi spots, great views or quiet spots to read. It combines data from the paper with municipal information and UGC all geotagged and keyworded and allows users to review and rate services. That's montetised by contextual ad banners, expanded descriptions, map POI but Stenbäck pointed out that to make that money you have to set aside dedicated staff to sell the advertising because of the need to explain the new product to customers. Having done hyperlocal the next step is go global and ask users for recommendations on their travels which is being done in partnership with travel agent and airlines.
Written by Steve Shipside