Zvents has no salespeople schmoozing with store managers and local restaurant owners. Instead, they have other companies, including the Boston Globe’s Boston.com, encouraging its ad reps to sell space next to Zvents results. “We’re creating scale in local. This is a hundred-billion-dollar opportunity,” Stock says. For now Zvents grosses $220,000 a month.
Local ads are very lucrative, averaging $1.20 per click compared to 47 cents Web-wide, but search engines have done a mixed job selling local ads and geographically targeting ads with results. Part of the problem: A third of all searches have the intent of finding something nearby, but only 7% return a location. That limits ad inventories.
— A Forbes article about Zvents, a locally focused events service that works with over 250 locally focused media properties.