Social Marketing to be Worth Over $2 Billion in 2008

Writing by Nick Stamoulis on Saturday, 15 of December , 2007 at 1:51 am

Social marketing is huge and to give you an idea of how huge take a look at the following passage from Web Pro News:

When it comes to advertising revenues, eMarketer estimates that global online social network ad spending will grow from $1.2 billion in 2007 to $2.2 billion in 2008. Worldwide spending will hit $4 billion in 2011.

In the U.S., spending is projected to rise to $1.6 million in 2008, from $920 million in 2007. “MySpace and Facebook together receive more than 70% of all US social network ad spending,” says Ms. Williamson. “And they are hard at work to convince marketers to allot more of their budgets to social network advertising.”

MySpace and Facebook are obviously the big players in the social advertising market, but don’t discount the other options. What is to say that the next MySpace or Facebook cannot come out of any of the new social networking sites that are on their way up at this point in time. The benefits of Facebook and MySpace is that they provide a large “captive” audience and targeted advertising. If you are looking for a social market, these are perhaps the best markets at this time. With social networking options coming from both Yahoo and Google, there should be a range of similarly attractive options on the way. With social marketing it never hurts to play the field.

Category: Social & Viral Marketing

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