Social Media Spending Goes Bananas

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The shift from print advertising to social media is no longer a burgeoning trend. It’s on! Brands that began testing the waters 16 months ago with social media advertising have seen such great results they’ve been steadily increasing their budgets. By how much? In the last eight months companies have increased their spending 10 fold, some 20 fold, on social media advertising.

By the time 2010 is over and done with, advertisers will have spent nearly $3.3. billion worldwide on social media campaigns. According to eMarketers, nearly $1.5 billion will be spent in North America.

The bulk of this social media spending will go to Facebook. With Myspace catching some coins too. Facebook is working diligently to attract advertisers in an effort to generate revenue for an initial public offering, possibly in 2012. As a privately held company, Facebook doesn’t reveal its revenue.

With plenty of social media outlets to choose from, determining which is the best for your creative is an important decision. Facebook is the current go-to social media advertiser, but that doesn’t mean it’s right for your brand. There are other options such as YouTube, Myspace, Twitter, Tumblr, Foursquare or even Google Buzz.

Before embarking on social media campaign talk to us. Our large network of associates use a variety of different outlets to promote Pixel Dreams and themselves. Instead of a catchall social media expert, we have individuals who are experts on a specific social media outlet.

Ask FaceBook Canada head of growth Elmer Sotta questions when he hits the Future of Media Conference at the Drake tonight (Sept. 8). 7:30 p.m. Panel includes Globe and Mail Anjali Kapoor and FaceBooks’s Jordan Banks.

US Social Network Ad SPending, 2009-2011

[Billions and % Change]