My colleague Jared provided a great commentary on this blog after the recent New Business Models for News Conference and HyperCamp at CUNY. Thought I’d add a few more thoughts from the revenue angle.

As Sean Blanda points out in his recap, and repeatedly expressed by the confab attendees, a major unmet need in the hyperlocal space is around selling. In other words, what I heard loud and clear is: “I need revenue!” As this conference re-affirmed, there are plenty of journalists, bloggers, publishers (large and small) who are producing and featuring hyperlocal content, the challenge is how does one monetize this content.

Not surprising… after all, who doesn’t want to make some money? But here is why this is interesting:

• No real mention of the usual self-service online sales route, such as Google or other ad networks). You can read into what is NOT being spoken aloud here… Google AdSense is not enough. Generating pennies off of clicks may work for the behemoth that is Google, but not for the independent local news site. Folks are well aware of how big the local ad market is ($100B+) and appear hungry to go after some of this big pie.

• I sensed a DIY attitude when it came to ad sales. Individual publishers want to know how to sell. Journalists may not “do spreadsheets” but maybe some will do sales? I’m usually a fan of the DIY mentality and entrepreneurial spirit, but to make local ad sales work, DIY will not cut it. Local networks need to form to provide scale and efficiency. Rather than you sell what’s yours and I sell what’s mine, how about the best person sell on behalf of everyone in the market?

• Not every hyperlocal site or news org should have to sell. The staff of the new news organization should focus on what they are good at, and in most cases, that will not be sales. The ability to sell is not something you teach and voila: You’re now making money. I wish it were that simple. Not only does it require recruiting the right people and training them properly, but you also need to equip them with the right tools and products to sell with, and most importantly, incentivize and motivate them to sell something that is not theirs. But local sales teams that have the skills and relationships already exist. The key is how to connect them with the relevant inventory that best services the advertisers… Sounds very similar to the challenge of connecting the big media folks to the local network of bloggers.

So, what does all this portend? Well, the future is still being shaped (by some of the folks there at the conference and other thought leaders and innovators), but a few things are clear on the ad sales front: Training will not be the answer and generating meaningful local dollars will require more cooperation and collaboration amongst the relevant parties. Yes, more group hugs are in order, as Jeff Jarvis insisted. And local networks being sold by the right sales teams will be the key in this new ecosystem.