This week's insights into Monetization and Social Media

August 26, 2009

2009 Is the Year of Social Media
Twitter today is the first place you go to when there’s breaking news. Sites like Digg, Reddit, and Facebook can now leave a huge impact on the real world; lives are changed, important questions are asked (and answered) there. Many milestones have been reached; the growth of nearly every aspect of social media has and continues to be enormous. (http://tinyurl.com/crk6vd)

Facebook has launched an application that allows users to simultaneously update both a Facebook Page and a Twitter account. This is intriguing for a few reasons beyond the simple utility of it, as it could be a sign of things to come in terms of integration between the two social sites. (http://tinyurl.com/mt3tze)

According to a recent study from PR firm Burson-Marsteller, 54 percent of the Fortune 100 companies have a Twitter presence, 32 percent have a blog, and 29 percent have an active Facebook Page. Moreover, at companies using only one of these tools, at 76 percent of them, the tool of choice is Twitter. (http://tinyurl.com/lfm3d3)

Earlier this year, it was reported that 63 percent of companies planned to increase their spending on social media in 2009. Thus, it’s not too surprising that a recent study from the Association of National Advertisers reveal that 66 percent of marketers have now used social media in some capacity in 2009. The top platforms being utilized: Facebook (74%), YouTube (65%), Twitter (63%), LinkedIn (60%). Combined, this usage represents significant growth from 2007, when the same survey indicated that just 20 percent of marketers were using social media. (http://tinyurl.com/n8754k)

Spending on social media marketing is expected to rise at better than 30 percent annually over the next five years. The research firm, eMarketer, projects that MySpace revenue in the US will total $495 million this year significantly ahead of the $230 million in domestic revenue they expect Facebook to generate.

Twitter has left many critics silent by continuing to grow. It’s all about the people and how the service has been put to use by the millions. Whether using it during their everyday lives, marketing a business or reporting on tragic events, users have shown the value of Twitter and will continue to contribute to its growth. (http://tinyurl.com/munrlz)

@DellOutlet has been one of the biggest success stories amongst big companies using social media. For those unaware, @DellOutlet is a Twitter account owned by Dell that tweets out major discounts for Dell computers and products. All of the deals on @DellOutlet are Twitter-exclusive.

It has gained quite a following (620,000+ followers) and sold a lot of computers – at the end of last year, they surpassed $1 million in revenue, after about a year and a half’s worth of tweeting. Twitter’s phenomenal growth and Dell’s social savvy have pushed sales from Dell Outlet to over $2 million, in 1/3 the time needed to pass the first milestone. And @DellOutlet is still on the rapid rise. (http://tinyurl.com/lq4tsm)

Mig33, a mobile social networking service, has raised $13.5 million in funding, adding to $10 million the company raised in May of last year. If you’re not familiar with the company, it’s relatively new to the US, initially gaining traction overseas, passing 6 million members last summer.Since then, the company has re-located to the US and now claims more than 9 million total users. (http://tinyurl.com/229oyd)

For non-profit organizations and other charities, social media is potentially an incredibly powerful tool to get the word out, connect with constituents, rally support, and even raise money. (http://tinyurl.com/nrjhtx)

Mashable’s first ever Social Good Conference is approaching. Held on Friday, August 28 at the historic 92nd Street Y in NYC, the conference will be a one-day educational event celebrating the finale of the Summer of Social Good charitable campaign. The conference features keynotes from Facebook’s Randi Zuckerberg and All For Good’s Jonathan Greenblatt, and presentations from well known and respected organizations and professionals within the space focused on the theme of “Social Media for Social Good”. (http://tinyurl.com/nwnarx)

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