Selling Billboard Space... Thru Craigslist? On the Inefficiency of Media Buying

As we know, the paid search auction has been the great shining tangible example of how inefficient markets can be quickly rationalized through an online auction scenario. Overture and AdWords foreshadow a revolution in media buying globally. One example is physical billboards, many of which could be changed to all-digital (admittedly more costly) formats, which could be activated and controlled via online platforms open to advertisers and managed by a broker. I mean just imagine how inefficient this must be - a company trying to sell Page Zero Media, a marketing consultancy which focuses on maximizing clients' paid search marketing campaigns.