Social Networking Advertising

Social networking and the advertising money behind it are growing very, very fast. Ad spending on social networking sites like MySpace and Facebook is going to grow from $1.2 in 2007 to $2.1B in 2008.

However, a recent article in Business Week talks about the growing disillusionment of online ads. Average time spent on sites is actually decreasing. And click-thru rates are anemic - averaging as few as 4 click-thrus in 10,000 page views. While there is promise in the increased targeting (I like running, therefore my friends should get Asics running shoe ads on their Facebook pages), I'm still not sure banner ads will continue to provide growth in this market.

Perhaps what is needed is something even more open to unlock the power of social networking for web sites other than MySpace and Facebook...

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