I read a very interesting piece form eMarketer recently and I want to take a moment and share it with everyone. The piece, aptly titled Facebook Drives US Social Network Ad Spending Past $3 Billion in 2011, has some interesting nuggets of knowledge worth discussing.
eMarketer recently projected that social media marketing will reach $3.08 Billion in 2011, an increase of over 50% from 2010! Already at a startling $1.99 Billion in 2010, it seems that social networking sites are taking and will continue to take the lead on marketing products in the 21st century. What’s more, the $3.08 Billion will account for 10% of all advertising dollars spent online in the United States! And who do you think is leading the charge? You guessed it, our favorite social networking site—Facebook. In 2010 Facebook’s ad revenue was at $1.86 Billion (with $1.21 Billion coming from the United States alone!) Think that’s a high number? Well, the projected advertising revenue for the next two years is nothing short of astounding, with an increase to $4.05 Billion worldwide in 2011 and $5.74 Billion in 2012. Social networking engines have found their place in marketing and advertising, and have become a novel medium where any business can promote their goods and services.
If eMarketer’s projections continue to be accurate, by 2012 we will see marketing dollars allocated to social networks in the United States touch a record breaking $4 billion! Where does Facebook stand in the scheme of things? According to eMarketer by 2012, 50% of Facebook’s ad revenue, a shocking $2.87 Billion, is projected to come from the United States. As you can see, United States is leading this social media marketing trend, but the rest of the world is right behind it.
I don’t think anyone could have imagined the level of growth and success Facebook has seen in the last few years. The original team probably never imagined back in 2004(when Facebook was first launched) that Facebook would be where it is now. Is the sky the limit? Looks like we will have to wait and see about that, but I do know that this kind of growth is no fluke. There is potential for growth and success for all business looking to expand into the social marketing sphere. Let us here at Wavespot help you build your identity on Facebook- the fastest growing social network.
Read the full article: http://www.emarketer.com/Article.aspx?R=1008180