Social Media – Um, Show Me the Money?

Yay, I used a really old cliche in my header!

The reason is because Wired has written a very smart look at the difficulty of turning huge numbers of social media users (literally millions of people) into large piles of money.

“Social networking was supposed to be the Net’s next rocket to riches. But many social sites are having trouble capitalizing on their audiences, and it’s looking like the convivial atmosphere that promised to boost the value of commercial messages may actually diminish it. Even the big brains at Google are stumped. The search king, which pays a special rate to place ads on MySpace, has suggested that it may be paying too much. “I don’t think we have the killer best way to advertise and monetize the social networks yet,” Sergey Brin admitted during a January conference call with analysts. ”

To the person who figures this out will go gobs and gobs of dollars.

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