Facebook to Face Facts?: The Monetization of Eyeballs
Facebook has the greatest blessing and curse of a Web 2.0 company - a skyrocketing and captured community of eyeballs but no strategy to monetize it. While there is no clear answer, I strongly believe there are some critical signposts that might lead us in the right direction to understand how Facebook can monetize its constituency. It took Google several years of providing a revolutionary search service and gaining a monumental following before it created AdWords which resulted in $10Bn per year revenue. Facebook has been striving for a similarly suitable model but has been wasting time with traditional banner ads that undermine its next-gen potential, until now . The next evolutionary step of a more dynamic ad-based system known at Engagement Ads ( engagement marketing ) is a unique convergence of social networking, advertising & market research. The purpose of these ads is to use video, polls and other interactive media to direct visitors to a specific Facebook Page. The ...