we focus on building local audiences to challenge the dominance of tech giants and redefine local media engagement.
In the ever-evolving landscape of business, it has become increasingly apparent that the vision we initially held for our venture may require substantial adaptation. This realization, although not new to my experience, underscores the dynamic nature of entrepreneurial endeavors. Our initial strategy for https://InChannels.net aimed to revolutionize local media through the integration of advanced technology, comprehensive knowledge, and engaging content. However, we have come to understand that the essence of success in this domain lies in effective audience engagement and development.
This insight is particularly evident when considering the current advertising market dominance by major platforms such as Meta and Google, which collectively command approximately 70% of all advertising revenue. This dominance is largely attributed to their vast, engaged audiences, a competitive advantage further cemented by regulatory frameworks such as the GDPR, which inadvertently reinforce their market position.
In response to these challenges, we are pivoting our strategy to prioritize audience building from the ground up. This shift in focus has been enlightening, offering valuable lessons on the digital media landscape's intricacies.
Our observations have revealed interesting dynamics within various social platforms. For instance, despite having a significant number of group members, Facebook's impact remains negligible, whereas X/Twitter has demonstrated unexpected resilience. Reddit wields modest influence, and while TikTok generates substantial impressions, their relevance to local contexts is questionable. Instagram, however, emerges as a pivotal platform for local engagement.
These insights will be elaborated upon in our upcoming blog posts. The necessity for a "Local Social" strategy has never been more clear. The current model, which sees local businesses channeling tax dollars to multinational corporations without local representation, is unsustainable. Our commitment to redefining this model underscores our dedication to fostering a more equitable and locally focused digital ecosystem.