Imagine selling web traffic as a commodity in a blind auction, while touting its value based on the traffic being targeted, relevant, precise, and trackable. Then imagine taking away the default keyword tool on the internet that has been written about in thousands of marketing books, ebooks, and web pages - and replacing it with nothing. Then imagine signing up some seedy publishing partners that run clickbots against your highest value keywords, and giving them the lion's share of the click "value" on those keywords. Then imagine not making it easy for advertisers to opt out of that "traffic." Then imagine editing your advertisers accounts without their permission to alter ad text and keywords, and only informing some of them about the changes sometime after they take place...with 1 in 5 rejecting the changes!
Google offers about a half-dozen public keyword tools, makes it easy to filter out bad traffic, has way more volume, offers enterprise level analytics for free, and does not edit your keywords and ad copy against your permission. Is it any wonder Yahoo! managed to lose hundreds of millions of dollars last quarter, while Google keeps exceeding market expectations - even during a recession?
I just hope that when Yahoo! gets bought out by Microsoft that they keep Site Explorer around for us SEOs, and don't do us as poorly as they did their advertisers. ;)
[update: Danny Sullivan also covered this issue.]
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