Thursday, September 18, 2008

Technology Review: Making Money from Social Ties

Had to happen sooner or later...

Social networks might be popular, but the industry is struggling to find a way to turn all those users into a big payday. This conundrum is the focus of industry executives gathered at the Social Ad Summit in New York this week, and while no company has yet found the perfect solution, advertising campaigns that make far better use of social-network functionality are starting to offer hope of richer returns.

According to Michael Lazerow, founder of social-advertising company Buddy Media, 37 percent of adult Internet users (and 70 percent of teens) in the United States use social-networking sites regularly. Meanwhile, less than 1 percent of all digital-advertising budgets currently flows to social-media sites.

Technology Review: Making Money from Social Ties

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