A new report from Borrell Associates indicates the growth of social network marketing will be ferocious in the years ahead. The question: Will it be properly applied?
This year about 11% of marketing spending will go to social networks. Borrell predicts that number will grow to one-third of such spending by 2015, representing $38 billion.
And the ratio of promotional spending compared to advertising spending across social networks will increase --- from about 1:3 today to about 1.75:1 by 2015. In other words, $1.75 in promotion will be spent for every dollar in advertising across social networks within five years, Borrell suggests.
Borrell notes, though, that it's difficult to measure the scope and effectiveness of such spending, and that firms use their social networks as a mass medium instead of one that needs targeting.
Which social media will prevail, does Borrell say? This week's expert in our town was down on Facebook, saying it's really just a place for grandmother's to look at grandchildren's pictures and also that Foursquare is a time-consuming game. He likes email marketing,which amazingly still works. He like twitter, although I still don't understand why. I use it but I am not sure it does anything but alert people to bad weather and traffic jams.
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