According to eMarketer.com, social ad spending is on the rise and is expected to reach $1.7 billion in 2010. Many companies, large and small, are increasing their social network ad spending in order to keep up with another steadily-increasing trend: social network usage.
While the popularity of MySpace may be rapidly decreasing, the popularity of Facebook and Twitter cannot be exaggerated. People use these networks to stay in contact with family and friends, and to promote their businesses and services every single day. While they are busy doing this, they are also exposed to ads tailored to their interests, demographic, and geographical locations.
Facebook alone reported that some advertisers have increased their ad spend by 20-fold or more. It seems that marketers have finally embraced the fact that that consumers use social media to research products and seek opinions from their trusted circle. eMarketer predicts that social ad network spending will reach $2 billion in 2011.
Are You Missing Out?
Whether these predictions prove to be accurate or not, the important question to ask yourself is: what is your company doing to promote itself socially on the web? Do you have a Facebook fan page? A blog? A Twitter account? Do you allocate a certain amount of your marketing budget towards online advertising? If not, you may be missing out on millions of potential customers.
If you’ve fallen behind the social media wave and aren’t sure where to begin, contact future-ink today. We can get you started in the right direction so you can start benefiting from the new social web.
About the author: Jeune Ortiz is VP of Marketing and Creative Director at future-ink. With more than 20 years of experience in graphic design and marketing, Jeune brings extensive knowledge and creativity to each website and internet marketing solution to grow your business.
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