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...way to monetize image search to date. You may see us roll out an ads-image search in the future, but when we do youll know thats because we found a way that ultimately enhances user happiness with the product.

Even more interesting was the information Mayer provided on their previous attempts at monetizing image search:

Google calculated in 2006 that it was giving up as much as $200 million a year by not including text advertisements with its image search results, and that figure has probably increased since, Mayer said. Trials showed that text ads drove people away from conducting image searches, and Google dropped that idea.

So, apparently theres a possibility, but no guarantee that theyll go this route.

What would it take to make relevant image display ads alongside image search a reality? Well, for one thing, advertiser interest. When users drill down to use image search, theyre looking for images (gasp!). The proportion of informational-intent searches is probably even greater than that found in regular search.

However, if Google can establish that there may be some interest from users and advertisers in placing relevant image ads, it seems that most of the rest of the implementation should be easy. Have the advertisers generate their own creative and keywords, just like Googles extant display system.

Of course, a system thats truly useful for users would probably require some sort of oversight on Googles side, to ensure relevance (and also that whole Safe Search deal). However, if theyre already working toward regular SERP image/display ads, it would be easy to expand that same platform into the image search area. Bloomberg also notes DoubleClicks display ad platform, which Google now controls, as being helpful in this area.

But none of that solves the problem that Google had with text ads a couple years ago. I really think that people are less likely to search for purchasable goods on image search than they would on regular old text search. They might appreciate the occasional product images which Google Universal SERPs supplies, but if theyve gone to the trouble to look for images only, odds are poor that theyre in (or even near) the buying phase of the conversion funnel.

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