Anne Holland’s point seems to be that ads on blogs and other Web 2.0 properties only work when they are contextually relevant to the content on the site. This is likely not a surprise to the people reading this blog. No one, for example, would ever expect non-targeted Google ads to be effective. Google ads are effective BECAUSE they are targeted. In fact, it is not unusual for a good search engine ad campaign to have “dozens or hundreds” of ad variations. It seems to me that smart “Madison Avenue media buyers” will figure out a way to efficiently run campaigns via niche ad buys while the rest of their colleagues walk away from it because it was too much trouble to deal with.