Some of the hottest new companies in local advertising aren’t using technology that is all that new. Groupon, for example, attracted $30 million in funding based on a simple once-a-day email that is powered by a direct sales force.
But that doesn’t mean that innovation isn’t happening. Companies like Paper G are using technology to streamline or enhance the local advertising experience. And a new entrant into the space, Lasso, is looking to leverage social media and the real-time web to push local advertising to keep pace with the digital age.
“We kind of focused on what comes after the group purchasing hype,” Lasso CEO Chris Treadaway says. “We’re not sure it fits a lot of local businesses. Those who have a different margin structure – it is a lot more painful giving up 75%.”
Lasso is a platform positioned to enable local media companies to reach small and medium-sized businesses with attractive new offerings: integration with social networks like Facebook and Twitter, and distribution through customizable widgets throughout a media company’s website.