How To Follow the Money: The Social Media Advertising Boom
Posted by: Carlee Vellinga
Social media campaigns are evolving as advertisers learn which techniques work and which are not as beneficial. As advertisers become more interested in social media marketing, they are willing to pay more. Facebook still leads the way in money spent for advertisements, while Twitter and location-based programs are in the experimental phase. This article from Adam Ostrow at mashable.com shows where the money is in this expanding industry.
Citing a recovering economy and increasing marketer interest in the space, research company eMarketer recently raised its 2010 spending forecast for advertising on social networks by nearly 30% to $1.68 billion domestically.
Within the social media world, however, a number of trends are dictating how, why and where money gets spent — trends that will push the industry past the $2 billion mark in 2011, according to eMarketer’s projections.