Google CEO Eric Schmidt: "The next big wave in advertising is the mobile internet"

Eric Schmidt: MySpace did not monetize as well as we thought. We have a lot of traffic, a lot of page views, but it is harder than we thought to get our ad network to work with social networks. When you are in social network, it is not likely that you´ll buy a washing machine. It is not a long term problem but it is taking us longer than we thought. We are trying new ways, new approaches all the time.

FAZ: The share of the social networks in the online advertising market is very small. Which role will social networks play in the future?

Eric Schmidt: It is obvious that people spend a lot of time in social networks. I believe there will be some new advertising products, that will work, but I don't think they are invented yet. We and others are working on social advertising products.

FAZ: Which sort of social advertising do you mean?

Eric Schmidt: The advertising has to be more entertaining, more interesting, more immersive compared to what we have today. That is my opinion. We are not there yet but I am optimistic that it could work very well. What it needs to get there - trial and error. That´s the way we do it at Google.
Netzökonom : Google CEO Eric Schmidt: "The next big wave in advertising is the mobile internet"
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1 comment:

  1. Thanks for highlighting Schmidt's comments on social ads!

    Let me help further the discussion.

    For an ad to be social, it has to be just that, social. This means that the ad is there because it has been invited. It has voluntarily been taken across the threshold and allowed into the inner sanctum of the profile page, just as a teenager might hang a picture of a Nike sponsored athlete on her bedroom wall.

    Social ads are those ads allowed “in the circle.” All others are “outside the circle.”

    Here is a more complete explanation of social advertising (based on our trial / error learnings at SplashCast):