Friday, January 8, 2010

Marketing, Not Ads, Fuels Social Spending Growth

Going social is no longer an experiment for marketers; it is a reality. There is no question that companies and brands are investing real dollars in social network marketing. However, paid advertising in social networks—banners, text ads and search advertising, as well as the more targeted advertising being deployed by Facebook and MySpace—is only a fraction of the spending.

The remainder is difficult to track, since dollars spent on social network marketing initiatives often come from a variety of budgets—including public relations, cause marketing and research, according to the Jack Myers Media Business Report. The researcher estimated marketers spent $800 million in 2009 on social network, word-of-mouth and conversational marketing, up more than 23% over the previous year. Further growth of 35% is expected for 2010 to more than $1 billion.

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