ValueClick this week announced the divestiture of their lead-gen business unit, Web Clients. The stated reason is that ValueClick wants to stay focused on their online marketing services and technology businesses. That’s fair enough, but a look at the history of ValueClick and Web Clients raises questions in the minds of the curious.

Over the last five years, almost all of the topics I’ve written about focus on some aspect of performance-based advertising. My fascination with the subject stems from a desire to understand the role performance-based ads play in the broader ecosystem for advertisers, merchants and affiliates.

New media such as blogs and social networks have opened vast territory for information dissemination, networking and connectivity. Due to their low costs, every “netizen” with an opinion can set up a Web-based soapbox from which to broadcast to the world. As a result, like-minded communities of writers and followers have sprung up around any number of topics large and small: from politics to film, video games to parenting tips.

Cost-per-action networks are all the rage today. But what will it take for a network to win with 400-plus competitors? And how does a network keep ahead of the curve (and the FTC) while building its publisher and advertiser base and fending off tracking and fraud issues?

These are the tough questions that CPA networks face.

Top interactive agencies and affiliates share their tricks for picking the right ad network.

Conservatively estimated, there are upwards of 400 ad networks globally. There is a Japanese iPhone-only ad network and the recently launched Village Voice alternative weekly New York newspaper ad network – and everything in between. For ad agencies representing top brands, and for affiliates trying to make a living in the increasingly competitive world of performance marketing, picking the right one is critical to survival. Choosing poorly spells disaster for everyone.

After a rough start, the biggest social network is setting the standard in the newest area of performance marketing.

While most publishers are scrambling to find their place in social media, Facebook is quickly perfecting performance marketing techniques that have the potential of reshaping online advertising on a scale unseen since the rise of search engine optimization. Its recent hookups with some of the world’s biggest brands offer a glimpse of the future, and it isn’t a pretty sight for affiliates.

It's all good - from online advertising being up 25 percent, according to the IAB; to online commerce on the rise 23 percent, according to comScore; to Google search queries that are up 41 percent, per Nielsen//NetRatings. It's clear that online marketing grew strongly through the first three quarters of 2007.

In the old days, a telephone came in two designs and had one ring. With the rise in cell phones, the styles are endless and so are the types of rings you can make the phone chime. There are master tones, ringback tones, polytones, monotones and they all have a price. Users can download them over the Internet and program a ring to sound only when mom or that special someone calls. Users can also send a ring out to someone to let them know who is calling. But they aren't cheap - as much as three times the cost of one hit single from iTunes.

I talk to website owners all the time who are looking to design or redesign their websites. Most tell me what colors they like and what other websites appeal to them. Next they discuss features like animation or video. Some will go so far as to send long, prepared documents that include detailed color choices, font selections and so on. The concept of Web design is still largely looked at as a visual beautification of their website.

Online lead generation gets no respect. Online lead generation affiliates less so. While the sector is growing by leaps and bounds - 290 percent over 2005, according to the Internet Advertising Bureau - people like Peter Martin and Robert Jewell just seem to drag its reputation through the mud. These guys had the honor of being sued by New York State Attorney General Eliot Spitzer in March for selling the private details of up to 7 million customers to marketers when they said they wouldn't. Spitzer called it the "largest deliberate breach of privacy in Internet history."