I think this is key. Being "local" is important. I saw this in the comic/gaming shop I volunteered in. We had a web presence and facebook page, but no one used them except for memes and news links. The money was made with people coming into the store and impulse-spending during a Friday Night Magic tournament or RPG sessions. Conversations and real-life interactions with people are why these shops have survived the move to online and big-box outlet stores.
I've recently become aware of how problematic the lack of "local" news is in my community. Our local papers have vanished, so that we rely on a patchwork of blogs and government facebook pages to know what's going on--but those get drowned out in the ocean of other national-news posts and facebook filters. My wife and I have made it a point to always attend our town hall meetings each month so we can know what's going on in our neighborhood. Our local government is getting away with some pretty outrageous things now because social media fails to inform local citizens about what's going on. People have strong opinions about national politics, but have no idea how their local politicians are bringing down their quality of life.
Local is important, it's what's going on around our immediate area and it's where we can make the biggest difference in the world. Unfortunately, the World Wide Web has us so focused on global oftentimes that we are ceding our localities to other to our own detriment.