One of the reasons why I launched Pinoy Top Blogs Project was because I wanted to see if an aggregated blog network ad has enough number and traffic to convince local enterprises to advertise. The idea is an old one and has been widely implemented on systems like BlogAds and AdBrite.
However, regional targettting is something that must be highly considered when doing a network ad. It ensures that the right people view your ads with maximum impact. That is a cost-effective marketing machine, considering that pinoy blogs have become quite popular amongst Filipino online readers. Advertisers not only get the needed traffic and exposure, the bloggers who put up their ads automatically become endorsers of these products/service. In some way, it adds value to the ad.
Now, what we need is the mechanics and the right tools to publicly make this possible.
Plug: Add your blogs to the directory here: BlogFlux.com
a local online advertiser is needed and the niche is open to anyone, anyone up for it :) I am :)
Though companies might have a hard time being convinced that blogs will get them their readership, a ratings service like Neilsens might be required (they are way expensive btw)