| An estimated $900 million will be spent on | | | | |
| social media advertising in the United States | | | | These are a great way of targeting a specific |
| this year, and that figure is estimated to | | | | audience. |
| hit $2.5 billion by 2011. This is for | | | | |
| advertising only. Millions more are being | | | | FaceBook is just one example of an excellent |
| invested in other social media marketing | | | | social network marketing and advertising |
| techniques as websites like FaceBook and | | | | opportunity. YouTube and many other Web 2.0 |
| MySpace offer increasing opportunities for | | | | sites are also offering opportunities for |
| businesses to reach potential customers. | | | | commercial ventures and offering revenue |
| | | | sharing opportunities to contributors. |
| Social media websites are only beginning to | | | | |
| realize their full potential and are quickly | | | | As Web 2.0 develops, consumers are expecting |
| offering improved advertising opportunities | | | | a richer and more interactive internet |
| for businesses. | | | | experience. With this in mind, businesses are |
| | | | offering a more interactive and dynamic |
| While MySpace remains the market leader, | | | | online experience for users, using a variety |
| FaceBook's recently launched FaceBook Ads | | | | of media-text, audio, and video. |
| system has added a feature where users can | | | | |
| recommend products to friends. It's estimated | | | | Because of the participative nature of social |
| that an individual is three to five times | | | | network marketing, you can advertise your |
| more likely to buy a product if a friend uses | | | | product or service free of by online |
| and recommends it. In addition, FaceBook is | | | | word-of-mouth, or viral marketing as it's |
| also allowing corporate profiles. Microsoft, | | | | commonly referred to. Marketers are striving |
| Sony, Coca-Cola and Blockbuster are already | | | | to come up with original, and hopefully, |
| among the heavyweight names that have signed | | | | popular content that will strike chords with |
| up. | | | | a diverse consumer base. |
| | | | |
| There are also more traditional web | | | | Businesses of all types, large and small, can |
| advertising opportunities available on | | | | leverage this opportunity by jumping on the |
| FaceBook. You can buy traditional banner ads | | | | social network marketing bandwagon. As the |
| that will be placed at the top of pages. You | | | | effectiveness of traditional advertising and |
| can also buy flyers that can be targeted at a | | | | marketing techniques fade, Web 2.0 marketing |
| particular university, company, or group. | | | | is the future. |