Marketers predicted to increase social network spending
Mark Richards wrote: Will advertisers increase their focus on social media?
The growth in spending on advertising through social networks has been predicted to continue, with a sharp jump expected next year.
According to a study conducted by eMarketer, the worldwide rate of growth is likely to slow to nine per cent this year, before bouncing back to reach 18 per cent in 2010.
However, the non-US market is expected to thrive throughout 2009, with the firm suggesting that a 27 per cent increase in spending will be seen.
Senior analyst Debra Aho Williamson explained that marketers in the US are looking to cut back on internet advertising as a result of the recession, with spending on MySpace falling by 14 per cent worldwide this year.
But Facebook is expected to see 20 per cent growth in the same period, as it continues to hold a strong position in the social media market.
“The US has led the way in the development of social networks, but entrants in Europe and Asia are ramping up. In addition, US-based social networks will see an increasing portion of their revenues from international operations,” said the expert.
StrongMail Systems recently found that two-thirds of marketers intend to combine email and social media campaigns this year.
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