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Among the changes: Google will let advertisers run animated display ads on non-Google content sites that contract with Google to sell ads. It will allow advertisers to specify the sites on which they want their ads to appear, without having to pick a keyword tied to the content on a page. It will begin auctioning ad placements for its partner sites based on how many people see the ad, known as cost per impression, as well as its traditional cost-per-click method.
This is huge news. The article says we should know more later today. Probably 9am ET since it's a US co.
For Wall Street Journal online subscribers, the article is titled "Google to Target Brands
In Revenue Push".
[ Google CPM ad placed here ]
Say the ad block is at the bottom of the page and only gets 1/2 the clicks of a top-of-fold ad block. The CTR is only half of what it would otherwise be, and thus the effective CPM is only half as well. As a result the CPM advertiser ends up paying only half of what a top-of-fold placement would cost.