Overall Advertising Spend Down But Up on Social Networks

Two separate, recent reports from Nielsen provide interesting and insightful information for marketers from trends in advertising spending.

Nielsen’s Global AdView Pulse, which reports advertising across 27 markets in Asia, North America, Europe and Africa, shows overall advertising expenditures decreased 6.8% for the first half of 2009 compared to the same period last year. Regional differences are more indicative of the current economic situation with North America down 15.9%, Europe down 9.1% and Asia Pacific up 2.2%. The biggest losers for advertising spend in North America are magazines (down 22.9%), Television (down 14.9%) and Newspapers (down 14%).

In a separate report, Nielsen provided data related to social networking and blog websites:

Time spent on social networking sites almost tripled from 6% in August 2008 to 17% in August 2009 of all time spent on the Internet.
Estimated online advertising spending on the top social networking and blogging sites increased 119 percent during the same period.
The share of online advertising spend on social networking and blogging sites has more than doubled, from 7% to 15% percent during this period.

Industries with the largest gains in social networking and blogging sites advertising spend are entertainment, web media, public services and health. Hardware & electronics, software and automotive posted the largest declines in social networking and blogging sites advertising spend.

How to use this information to benefit your business

Social networking and social media marketing continues to gain traction and attention as evidenced by these data.
Businesses are taking note of this trend and moving advertising spend to where their prospective buyers and customers are spending more time – on social networking and blogging sites.
Social networking and blogging sites provide advertisers with highly attractive options to target people with specific demographics and interests with tailored and custom advertising.
I’ve written a number of articles in recent months about the potential of social media marketing for businesses of all types and sizes.
An increasing number of businesses are spending an increasing amount of their advertising on social networking and blogging sites – what is your plan to establish a presence on these sites with social media marketing?

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