photo credit: Sebastian Bergmann

If anybody questioned if social networking is the marketing platform of the future the question has been answered. According to a report by Borrell Associates, Inc. within the next 5 years companies will increase spending on social network marketing by $33.5 Billion. Thats no small budget!

The report also stated that the 1.5 million local business participating in social network marketing accounted for about half of all spending on social network marketing last year alone. Marketing professionals are impressed how fast and effective a concept or message can spread through the social networking networks. The effectiveness of social networks has been much grater than anybody expected.

The projected increase in spending this year alone is a 68 percent increase, up to $7.5 billion. The people at Borrell say that in the next five years social networking will capture on-third of all online marketing spending. We are definitely living in a new world.

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Posted in Education And Training, Technology And You, Press Room, MBI Headlines

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