Now is the time for social networks to fulfill the promise of social network marketing by showing that the key concept of marketing “one-to-one-to-many” provides real results, says eMarketer’s report “Social Network Marketing: Where to Next?” A study sponsored by MySpace, issued in April 2007, begins to fulfill that need, but more is required.
eMarketer has increased its estimate of US ad spending on social networks to $900 million in 2007. The increase comes from two factors: increased revenue projections for Facebook and additional spending on niche and marketer-sponsored social networks. Between 2007 and 2011, US ad spending on social networks will grow 180% to $2.5 billion.
MySpace, still the largest player by far, is estimated to generate $525 million in the US this year. Facebook is expected to generate $125 million and both should continue to see healthy revenue increases. Combined, the two account for 72% of US social network ad spending in 2007 and 75% in 2008.
“But issues are beginning to surface,” says Debra Aho Williamson, senior analyst and author of the report. “Is there enough interest among consumers to support so many ventures? Does every company need a social network? Indubitably, many of the hundreds of social networking ventures pouring into the market will not survive.”
Originally posted on May 9, 2007 @ 6:49 am
I have been a member of MySpace since it had merely 20,000 members and have watched it grow to the Millions of Members that it has today. I truly feel that Social Networking paired with Network Marketing is the wave of the Future. In realizing this vision, I have created a unique website focused specifically on Network Marketers where it is MLM friendly and Professional Network Marketers can share ideas with like minded individuals. The success starts here, and it starts now…
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Network Marketing & Social Networking. revolution or evolution
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Network Marketing & Social Networking. revolution or evolution
According to a report by Park Associates, online gaming in the US is even more popular than all those “Web 2.0†websites that the mass media see as the be all and end all of the internet. uVme is a totally new business, but with one major difference: without the risk of being “newâ€. There is a company with a solid foundation behind it, with an established support team, marketing team and technical-services team. This team have been working on uVme for over two years. Unlike any other globally successful company, where revenue is kept as profit for a select few, the very nature of our business model means that as we succeed, so does everyone involved, based on their individual efforts. With this proven track record and a visionary understanding of future online marketing trends, uVme are to synergize current models of Social Networks, online gaming/entertainment and Network Marketing.
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It will take some time and creative thinking for Social Networks to figure out how to effectively monetize themselves. New media has changed the rules of advertising and won’t follow the same rules of traditional mediums like TV and radio. Social Networks also provide a new place where brands can communicate and participate with their customers. Brands who hope to be successful will have to identify where their customers are and will have to develop campaigns to engage their customers without invading their personal space.
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