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A network of 350 million possibilities.
Facebook, Twitter, MySpace, etc. Social networks have become the most used services by internet users in 2009, and in 2010 will transform into an interesting promotion opportunity for companies.
Social networks are the sites where internet users spend more time, according to Nielson, a media research company. In December 2009, each of the 350 million users spent an average of five hours a month on them, two more than in 2008, and a worldwide increase of 82%.
Companies are becoming aware of the opportunity that this means. According to a research study conducted by the consultancy firm, eMarketer, the global advertising expenditure on these networks will reach 2,500 million dollars in 2010.
Marketing follows the users from one social network to the next. That is what has happened with the absolute leaders, Facebook and MySpace. Only in the USA, in 2009, Facebook doubled the number of visitors whilst MySpace fell back by 16% from 2008. According to eMarketer, revenue from advertising in MySpace is expected to fall by 23% in 2010, to 360 million, at the expense of Facebook, whose advertising revenue is expected to increase from 435 million dollars in 2009 to 605 million dollars in 2010.
A wasted opportunity
Twitter is currently among the social networks with more potential. Famous personalities and companies use the service to promote themselves with good results, such as Barack Obama, Oprah Winfrey and CNN.
On a personal page each user writes brief comments on what he or she is doing or thinking throughout the day and can join other people’s personal pages and become a follower. Companies can use Twitter to talk about their new products with a vast audience, increase brand exposure, gain market share, improve sales and as a customer service communication channel. But companies are currently not using it properly.
According to the public relations agency, Weber Shandwick, of the Fortune 100 companies, 73 use this service through 540 accounts, but 15% don’t have any activity and 41% were registered by persons alien to the company. Half of the companies have less than 500 followers. For comparison purposes, Britney Spears has 4.2 million followers and Obama 3.1 million.
Social networks are becoming a pending assignment for companies and we are already beginning to see job offers for social media specialists. Furthermore, corporate communication agencies are starting to offer services related to social networks. Therefore, 2010 could be the social media marketing year. A total of 350 million opportunities are waiting.
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Published in Finances and Services by Antonio Alonso / Miguel Ángel García Vega on 17/05/2010
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