There’s still a little time to register, and watch along, as Google has a 12:55 pm (PST) presentation at the Goldman Sachs Seventh Annual Internet Conference.
As they note, you need to have RealPlayer or Windows Media Player installed on your computer, and it needs to be capable of playing sound.
I haven’t listened to one of these Goldman Sachs webcasts before, but I’ve read a few transcripts from other companies talking in previous settings to institutional investors.
Like this one from February – Goldman Sachs Technology Investment Symposium – with Chris Liddell, Sr. VP and Chief Financial Officer of Microsoft.
Eric Schmidt provided some great answers to many questions during the presentation. If Google archives this, and makes it available, I’d recommend listening. It is audio only, but I was too busy scribbling notes to watch anyway. My notes are paraphrases, but hopefully they are close to what was said during the conference.
About the Yahoo! – EBay partnership:
Google would be happy to partner with “an eBay.”
On New Advertisers:
They are out there, and search advertising is underutilized at this point. Advertising is not a game where there is a winner and a loser. Advertisers will also advertise on more than one service.
Google as an innovator
Google was founded on being seen as the innovator. We want to innovate faster than anyone else, and will not go into a market were we don’t have an innovative edge.
What areas are there to enter?
One big one is a complete advertising solution.
Simplicity of Google’s Homepage as a brand
The simplicity of Google’s interface is underated.
There are technologies coming out that will benefit users. Personalization will assist people. Google wants to solve new problems that haven’t been solved before.
Google hopes to unleash new creativity in radio advertising. They are working on tools, and on building an advertiser base, so that they can launch later this year.
“Targeted advertising is a benefit for all involved.”
Branded advertising on Google content sites
Decisions on what ads to show on which pages are based upon “end user experience.”
“People don’t click on bad ads.”
“Highly commercial queries are often part of a buying cycle.”
Social networks are booming.
A little less than half of Google’s revenue comes from partners. They hope to partner with some of the social networks.
Still mostly in the testing stage at this point.
Geographic Presence outside of the United States
There are presently 110 million internet users in China today, and we will all be hearing about, and involved with China, probably for the rest of our lives.
Baidu is the leading search company in China now, and for Google to win there, they will need to present a differentiated strategy.
Reseller markets in places like China are probably the initial route to success.
Google’s involvement with wireless networks has been fairly small so far. Future efforts would probably be with a partner.
Management of Google
“The company is run by three computer scientists.”
Decisions that are made are often based upon how computer scientists think, such as things like building replicatible small teams located around the world.
There will likely be no material changes in management or structure of the company in the forseeable future.
Payments in Google Strategy
The are experimenting in making the Google payment system faster – their unnamed system – which they don’t see as, or consider to be, an attack against paypal. This is the system that is in place in Google Base, and could be used for advertising.
They are interested in making, “Hey I want that” become “”Hey I got it,” much faster. That is one of the problems they see today online, and it needs to be addressed.
Can profits be broken down by new products and services?
98 to 99 percent of profits are made by advertising. It’s difficult to attribute monetization to new products or services. For instance, it was more important to broaden Google News so that it would work with more languages, than it was to figure out how to make money directly from it. It is much easier to attribute successes with new advertising changes and advancements.
If this presentation does become available for rebroadcast, I’d recommend listening along. I don’t write as quickly as any of the participants in the presentation speaks, and I know that I missed some information shared during the conference.