Despite all of the Web 2.0 this and mobile Web that, we still (last time I checked) rely on a value based society. While there is some money to be made in the latest social fads, the fact of the matter is that Facebook advertising is, and has continued to be, a joke. Forget about ad revenue or the potential for such. Most of the ad content on Facebook is how to hook up with people for relations, get rich quick or, at best, promoting some cause no one even really understands. How is this competing with AdWords/AdSense — where the ads and advertisers delivered here are selling actual items of value?
Cards, computers, and services. You name it, Google has advertisers for it. And yet Facebook is going to magically come along and swoop up the world with get rich quick schemes or other stupid ads no one cares about. With behavioral targeting, Google is way ahead of the game. It’s got advertisers worth paying attention to. Again, point to Google. How about the people who still have an income despite the rough economy? Once again, I point to Google’s users vs. the folks screwing around on Facebook playing Farmville and other meaningless pursuits.
Could Facebook win over Google in raw revenue? Possibly, sure. Crap ads with get rich schemes pay pretty well last I looked. Does this mean that people will start taking friend recommendations over Google search results? Nope, keep dreaming. It’s the same argument that had people saying Twitter was going to win the day over search engines. The fact is that people want accurate results, not results based on emotion of personal agendas. Social media can’t deliver here. The best we can hope for are Facebook and Twitter to remain powerful tools for communication and community. As revenue powerhouses, again, perhaps. But their value is nothing to people who work for a living and are not spending all their time sharing the latest virtual exploits with virtual pets and other such nonsense. Google owns Facebook in the value department.