Ugh!

Why does this sentence from George Reyes, chief financial officer at Google, make me cringe so much:

“We have found that social networks are not monetising as well as we were expecting”.

I’m not sure if it’s the weird in-human language that he uses or if it’s the harsh reality of ‘expoiting’ social networks to make money …

4 comments

  1. Is this really surprising? I personally haven’t once clicked on an ads in my SN (aok, I’ve also got AdBlock installed) …

    And I also don’t find it surprising that SN have been created to make money!? What else for? It’s not like Wikipedia.

  2. I know exactly what you mean Richard – and the answer is yes to both!

    I was in a session yesterday evening with a bunch of entrepreneurs and marketing types who were, in my view, making the now common mistake of viewing social networks as an end in themselves purely to makw money rather than a means to an end.

    I mean, do they look to TV adverts as money makers in their own rights? No of course not. They open the door to other opportunities for working together – and making money.

    Also hearing big corporates talk of establishing networks solely to make money leaves me cold as all successful networks started small from the bottom up out of love for something, whether its pigeon fancying, swapping football cards or whatever. NOT imposed from the top down purely for the purpose of selling the big business line and cashing in.

  3. Daldianus – I can’t say I’ve ever clicked on an ad in a social network either! I did wonder how Mr Murdoch was going to get the squillions he paid for MySpace back … must be kicking himself now🙂

    Dominic – totally agree … it really is a common mistake to think that a social network is an end in itself – it is what these networks enable people to do that is the value …

    It’s quite refreshing to think that ‘exploiting’ social networks for financial gain is not as easy as the money men thought … only danger is that they start to shut them down😦

  4. yes some of the Google people seem to have a knack of puting there foot in there mouths.

    Their recuiting policy doesnt seem to value social/political skills at all thats not to bad for techies but for pr and the external facing roles its crucial.

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