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A recent press release by eMarketer has stated that social network marketing will reach $2.5 billion in 2011. eMarketer increased it’s estimate of US advertising spending on social networks to $900 million in 2007. The increase comes from two factors: increased revenue projections for Facebook and additional spending on niche and marketer-sponsored social networks. Between 2007 and 2011, US ad spending on social networks will grow 180% to $2.5 billion.
These figures are absolutely amazing and really show that businesses are now recognizing the power of social networking sites. I remember reading an article (though I can’t remember where) stating that social networking / bookmarking sites (specifically Digg) had decreased click-through-rates, but as technology advances, I think the click-through-rate will gradually increase. For example, contextual video advertising will help c-t-r on YouTube and other video sharing sites.
If you are unfamiliar with eMarketer, the press release said that:
eMarketer aggregates and analyzes e-business research from over 2,800 sources, and brings it together in analyst reports, daily research articles and the “eStat Database” – the most comprehensive database of e-business and online marketing statistics in the world.
A big thanks to Pronetadvertising for first reporting this to me.
Technorati Tags: social network, advertising, emarketer, facebook, myspace, digg, youtube, pronetadvertising
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