MARKETING VOX — July 26 — As social networking sites grow in popularity not only with users but also advertisers, they will begin to attract hundreds of millions in ad spend, and soon surpass the $1 billion mark. U.S. advertisers will spend some $280 million on social networking sites this year (mostly to create profile pages and sponsored promotions), or 1.7% of total U.S. online advertising spend. By 2010, social networking sites are projected to take in $1.86 billion, or 6.3% of all U.S. online advertising. MySpace is estimated to garner $180 million in U.S. ad revenue this year. Debra Aho Williamson, eMarketer senior analyst and author of the report "Social Network Marketing: Carving Out MySpace said,"user-generated content and word-of-mouth are two big buzzwords right now in online marketing, and social networks give marketers an opportunity to experiment with both." The average CPM is a mere 10c on MySpace.
The full article was originally published at Marketing Vox, but is no longer available.
People are still the best advertisers. They are sincere and that’s why it’s really difficult to make them speak about your site or company.
User-generated content is always unique and it reflects the audience. So my conclusion is that it’s the highest step of the company’s development when they set up their marketing srategy on people at their site. Good jog! My congratulations to MySpace.