A new report published by emarketer.com indicates that 2010 will see Facebook over take MySpace in terms of dollars being spent by marketers and advertisers. Facebook has overtaken MySpace in terms of overall popularity and social networking destination of choice, and is already the premier destination for marketers in the US and a number of worldwide markets.
In 2010, emarketer reports, Facebook advertising spend will be $605 million, versus $385 million on MySpace. “As more marketers incorporate social networks in their business, they will no longer look at them as siloed destinations. Instead, they will look to increase the impact of their social network presence by linking it to other marketing initiatives, both online and offline,” said Debra Aho Williamson, eMarketer senior analyst
The report also states that combined social and mobile, as well as local interactions will yield more advertising opportunities in 2010. The key theme of social network marketing will by earned media. Adding to the advertising opportunities, emarketer predicts that social ad networks will increase in importance.
To this end, the report states that US online social network ad spending will top over $1.21 billion in 2009. This represents a 3.9 percent increase over 2008, and 2010 is predecited to have a 7.1 percent increase. However, this data flies directly in the face of overall US online ad spending this year.
“When companies budget for social media marketing in 2010 and beyond, a substantial portion of their expenses will go toward creating and maintaining a fan page, managing promotions or public relations outreach within a social network, and measuring the impact of a social network presence on brand health and sales,” noted Ms. Williamson.
The report “Social Network Ad Spending : 2010 Outlook” is now available from emarketer.com and also addresses:
- How much money are marketers spending for paid advertising in social networks?
- What percentage of marketers use social network marketing?
- Why is the concept of earned media important?
- How will social networks affect local advertising?
- Where do social and search intersect?
- Will social ad networks deliver results?
Tags: advertising opportunities, Facebook, marketing initiatives, myspace, social networks
