Good news for Web 2.0 execs like Mark Zuckerberg at Facebook
A new study offers good news for the burgeoning advertising efforts of Web 2.0 social media sites, such as Facebook, MySpace, YouTube and the like.
While many advertisers consider themselves beginners in placing ads on these sites, they are eager to become more proficient, and many say ad budgets will go up next year despite the economic pressures of a soft economy, according to a study by the Marketing Executives Networking Group, an international trade group.
The Connecticut-based organization conducted a survey of its members last month and found 67 percent consider themselves to be beginners or advanced beginners in using social networking and other Web 2.0 sites that let individuals post their own information, form networks of friends and interact with other people online. Just 17 percent consider themselves to be skilled.
But most seem ready to spend more. The survey found only a small percentage of advertising budgets is now dedicated to social media sites – 76 percent of respondents said less than 10 percent. But 67 percent said they would significantly or modestly increase spending next year. Thirty-one percent said spending would stay the same.
The survey also found that 69 percent of marketing executives say their ads are just as effective or more effective than ads placed with traditional media, such as television networks, radio stations and print publications. Sixty-eight percent said results were equal to or better than search, display and other online ads, though the majority said they rarely or never do thorough studies of ROI, or return on investment.
The study found that 73 percent advetise on social networks such as Facebook, MySpace and LinkedIn; 45 percent advertise on video-sharing sites such as YouTube; and 66 percent use blogs to reach customers.
[...] asked about it a few weeks ago at the Web 2.0 Summit, Facebook CEO, Mark Zuckerberg, had this to say: “I’m really impressed by what [...]
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