It’s probably no surprise that the consensuses are aware that more advertisers are shifting their attention from traditional media to new media to keep up with changing consumer habits. A recent study by eMarketer predicts that US advertisers will spend nearly $1.7 billion on social sites this year.
Using social media for marketing makes sense, Forrester Research’s Jeremiah Owyang says, since it’s an inexpensive way to reach your intended audience. The estimation made is a significant increment from the initial 2010 projections, which forecasted $1.3 billion for this year, as well as a 20% increase from 2009’s spending.
Half of this spending is said to be directed towards Facebook, which in July 2010 hit 500 million active users. Also from the graph below, we can see that MySpace is losing ground on ad dollars by as much as 13% as compared to last year.
You can see more of the interesting points noted from the survey through a generous infographic provided by Flowtown!
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