The eyeballs are certainly there. Everywhere you look, social media is taking over, whether you're talking about the sheer number of page views on MySpace, the fact that everyone and their mother seems to be on Facebook, or the fact that you can't go a day without hearing something about Twitter.

And then there's the million-dollar-question lurking behind the social media frenzy -- how do you monetize it? While that's a problem for the platforms, the question is simply another way of asking whether advertisers have a place in a user-dominated medium. And more to the point, what is that place, and how do advertisers go about getting in the conversation without turning off their customers?

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