• by Joe Mandese  @mp_joemandese, February 25, 2010

That’s how OMMA Behavioral opening keynoter Rishad Tobaccowala responded to Steve Smith’s opening remarks.

Tobaccowala, who heads Publicis’ Denuo unit, and is a key player within VivaKi, noted that even at $1 billion, behavioral targeting is a fraction of the $63 billion digital advertising marketplace, and an even smaller sliver of the $282 billion overall advertising marketplace.

He suggested that there is “something wrong” with a business that cannot amass more than a 1% share of that big a marketplace, when its features are supposedly more effective than the rest of the marketplace.

One of the problems, he suggested, was that the people playing in the behavioral space, are “keeping an eye on the wrong source of the money.”

“We’re all positioning ourselves for private equity and venture funding sources,” he said, adding, “Let me assure you,, they don’t place one dollar in the $282 billion or the $63 billion. The people we need to pay attention to is clients.”