Social Media is Changing Advertising
June 30, 2010 | 3:42pm
Many media buyers that we hear from say that their clients are more and more interested in putting dollars into social media advertising. According to a recent Nielsen report, the world now spends over 110 billion minutes on social networks and blog sites. It also pointed out that consumers spent more than five and a half hours on social media sites like Facebook and Twitter in December 2009. That is an increase of 82% from the same time a year earlier.
So it is pretty understandable why media buyers are interested in using this medium for clients to advertise their products and services. With 206.9 million unique visitors in December 2009, Facebook was the top global social networking site. We’ve noticed in our quarterly surveys a strong desire by media buyers to tap into this market.
Social-media tech company, Syncapse says that the average value of a Facebook “fan” to a company or brand is $136 per fan. They have a complicated formula to arrive at that figure that includes product spending, propensity to recommend, loyalty and several other factors. The point is - that while $136 per Facebook fan may not sound like much, when you look at some Facebook fan pages having a million fans, that adds up to real money quickly. Not only that, but having millions of people exposed to your ads or messaging through social networks seems like a natural fit. Over the next quarter and rest of 2010, you will notice social networks becoming a huge part of media buyer’s campaigns.