Question-and-Answer Session
Operator
Thank you. The question-and-answer session will be conducted electronically today. (Operator Instructions). And we'll take our first question from Jeetil Patel from Deutsche Bank.
Jeetil Patel - Deutsche Bank
Hey, guys. A couple of questions. I know you talked on the main call about advertisers having excess budgets to work with. Can you quantify what you have been hearing anecdotally? And, what kind of budgets are available that still haven't been spent? Is there any difference between US and maybe Europe and UK in terms of budget availability out there among some of the marketers and customers you deal with? Secondly, can you talk about depth in the fourth quarter? What have you done as it relates to depth of AdWords as it relates to Q4 relative to let's say Q3 or as a good proxy? Thanks.
Patrick Pichette
I'm not sure I fully understand the second part of the question on depth of AdWords. We can maybe consider how to ask that one a little better. I'll try to address the first part. I think we mentioned on the call that most of the advertisers are not budget constrained, and the way I think one of the folks internally talked about is almost like a broken slot machine.
If you're a reasonably intelligent ROI guided marketer, you are not going to tap your spending. It's basically like finding a broken slot machine that you are not going to get up from. And it's broken in the sense that every time you put a dollar in, N dollars come out where N is bigger than the amount that you paying. If that is the case you're going to want to do it 24 hours a day, seven days a week.
The traditional markets you would set are quarterly daily budgets along with ROI goals. In our world, in many ways, they've sort of decided to walk away from the machine and let someone else sit down in the seat. We're not really sure why some of them choose to do that. So, fortunately, it is a minority that our budget is constrained. I'm not sure I have much color on how that differs geographically. Patrick might.
On depth, I'm not exactly sure what you are asking. We talked about coverage on the call. Are you talking about ads per query? What exactly are the ads?
Jeetil Patel - Deutsche Bank
- To read the full transcript on Seeking Alpha, click here »
