There are probably more 2008 prediction posts in the blogosphere right now than we need, so rather than add another, I thought I might outline a few areas that I think are ripe for innovation in 2008 and beyond. So here goes …

Website Monetisation

As I have posted before, I think that the advertising only business model may be holding back the evolution of the Internet. The Internet community owes it to itself to figure out an alternative way to monetise websites.

Social Network Monetisation

You may be wondering why this doesn’t come under website monetisation above. I think social networking sites are a special case - special enough to require a separate monetisation approach to the rest of the web.

Now don’t get me wrong, Mr Zuckerberg and his Facebook crew are obviously making money but as was obvious from their bold and clever but poorly executed beacon play, they know that they should be making a lot more money. Personally, I think that Facebook is right in trying to innovate with behavioural targeting type ads, but they should also be seeking more ways to serve contextual, intent-based ads like Google does. It may seem that social networks don’t offer much opportunity for contextual ads but think again.

Besides, with over 40 million users, there have got to be other things beyond advertising that can bring in the big bucks. Oh wait, it looks like the innovation has started. I just read this post on Mashable about Badoo - a deceptively popular Facebook rival that is apparently seeing success in charging its users small amounts to promote their profiles on the site.

Music (and other digital content) Monetisation

I have a detailed post coming up soon about an idea that I have for music monetisation in particular but suffice to say for now that since the record companies seem incapable of coming up with a new model, even in the face of undeniable evidence that the current model is destined for imminent death, it’s high time someone either gave the record companies a new model that would work for them and everyone else or that would completely knock them out of the picture for good. Whilst there has been some innovation in this space recently, it just all feels like pussy footing to me. A decisively disruptive new model is needed and is bound to come sooner or later. Perhaps the same can/should be said for video and other digital content. Death to DRM!

New TV

As I will post more about presently, I think that there is too much talk of online video disrupting traditional TV when effort should instead be going into the convergence of the two. Internet video is quite frankly never going to replace traditional TV - it just can’t. So, I am still waiting for the day when someone delivers my ultimate TV experience.

News/Blog Feed Aggregation

This is as close to making a prediction as I will come. I see more and more people complaining about being inundated with feeds and blog posts on a daily basis. These people seem to feel like they are addicted in some way and could do with some sort of tool to help them cut down on their intake. I certainly feel that reading blogs sometimes gets in the way of my productivity and I routinely purge my subscriptions when I particularly feel the need to increase my productivity over a period of time. So I see a need for more services that will summarise and perhaps provide analyses of the top news of the day/week/month.

Behavioural Targeting of Ads

Given that behavioural targeting is not limited to social networking sites, I thought it deserved a separate mention. It just feels like the world could do with an alternative and worthy competitor to the Google-led contextual advertising model. Behavioural targeting has for a few years now promised to provide just that, but hasn’t yet lived up to its hype. Facebook: If at first you don’t succeed …

Mobile Internet

More than anything else in 2007 or before, the iPhone has provided a much needed boost to the mobile Internet space. Perhaps now we will see the mobile web deliver on some of its much-hyped promise. Richard McManus over Read/WriteWeb seems particularly passionate about innovation on the mobile web.

Mobile Phones

OK I lied, here is a another prediction - as bold as they come. Nokia and Microsoft cannot afford to not respond to the iPhone. So I predict that we will see some direct responses to the iPhone from these two and other players in this space. Personally, I am looking forward to an iPhone-beating/ Windows Mobile device - or even a direct rip off of the iPhone. I am excited about the prospect because I was, and continue to be appalled by Apple’s decision to use only one carrier per country. I was not an O2 customer and was never going to sign-up just to get a particular phone - not even the iPhone. So unless Apple decides to open up to T-mobile in the U.K, I won’t be getting an iPhone and will wait patiently for the first iPhone clone. I hear the Samsung f700 and LG Viewty are sorry attempts and personally, I hope the iPhone beater comes from Microsoft and HTC.

Oh, I almost forgot that Android is also a factor here. Serves Google right for peddling vapourware. OK, so assuming Android does materialise, I guess it could lead to some interesting innovation on the mobile phone.

Web Application Development

2007 has seen a slew of startups emerge with tools that help users quickly create basic websites. I am talking about the likes of Weebly, Synthasite, Jimdo etc. We have also seen a different class of startup aiming to help their users build basic applications primarily to automate workplace tasks and processes - examples include Coghead and LongJump. There are also startups that provide tools for building social networking sites, e.g. Spruz and of course Ning. I think more can be done though to help non developers build richer and more complex consumer focused web applications. OK, so I don’t expect a tool that will automate the development of a Google search clone but any tools that speed up the progress from idea to not-too-basic web app for non developers will be very welcome.

So there you go - my predictions ideas for innovation in 2008. Merry Christmas, Happy New Year and keep innovating.