Analysts say that piece is going to get even bigger in the coming years. In fact, they say, it will quadruple in the next few years alone.
All that money is being dumped into efforts to blog, manage social media accounts, enhance their online persona and generally, exploit the Internet audience in every way imaginable. Companies should understand, however, that just because you throw money at a problem doesn’t mean you have solved it. Real problems, lack of exposure online for instance, require real solutions. Having a specific and well-defined social media marketing plan is key to their online success.
Social media advertising revenue, which totaled $2.1 billion in 2010, will grow to $8.3 billion annually by 2015, according to Texas-based media consulting company BIA/Kelsey. That represents a compound annual growth rate of 31.6 percent.
Display advertising by far accounts for most of the advertising dollars being spent on social media advertising, but BIA/Kelsey said revenue for non-display ad formats like Twitter’s “promoted products” will grow to about $600 million by 2015, reports Austin Business Journal.
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