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