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Social Media Tools Facebook and Twitter:
Behold, the Mighty, Mighty Giants
Once upon a time, there was a little website called MySpace, where people could come and meet “friends”, share videos, search for people, listen to music and keep informed. Fueling this site were a number of ads and the people behind those ads. However, the new social media giants, Facebook, Twitter and others, came onto the scene and MySpace soon found itself falling in terms of numbers and advertising spending. The phenomenal upward growth rate of both Facebook and Twitter has shocked virtually everyone and has led to a major shakeup at MySpace, from the CEO on down.
Numbers Don't Lie
First, let me give you the sheer numbers. How many people are spending time on the various social media networks? Facebook reportedly has around 400 million users or more and Twitter users send out millions of tweets per day on every topic, including professional updates. LinkedIn, another of the social media networking tools, recently (as of February 2010) agreed to attach updates to Twitter, connecting the two. LinkedIn is considered to be the leading social networking tool for professionals, but only has around 15 million users in the United States and about twice that number worldwide.
Social media networking sites bring in huge media revenue for the advertisers that use them. The amount of money that is spent on ad campaigns that are developed and launched on these sites varies greatly from site to site, of course. Numbers for ad revenue for Facebook in 2008 were just over $230 million dollars, a climb of just under ten percent. (MySpace’s number declined in the same time period.)
How do people use these social networking tools? It might seem that these sites are only for young teens to chat with their friends or for the lonely hearts to find new and interesting people to not date. However, it also has professional and real world applications as well.
Advertising on Facebook and Twitter has increased not only because that is where all of the people are but because it does not make good business sense to not do so. People use both methods of communication to stay informed, not only on a personal level but at a professional level as well.
It is important that you as a business owner and your marketing company come up with a campaign that will entice rather than repel the users of each type of social networking site. InsightExpress, a market research company, released numbers that said around 40% of socnet users are receptive to opt-in advertising, compared to only 23% for randomly generated ads.
If a product really wants to generate lasting buzz, it not only makes sure that it has great multi-media ad campaigns but makes sure that it is tweet-worthy at all times. Finally, it makes sure that it has a fan page on Facebook so that it can have continuous, virtually free internet advertising as well.
MediaFuel, a complete marketing company, can make sure that your product or service is driven to the top of everyone’s list by designing your website and creating a campaign that has everyone talking, not only around the water cooler but on Twitter and Facebook as well.
