Advertising on Social Networks is something that I have been following pretty closely because I see so much potential there. Turns out my hunch on social media advertising that I posted a few months back has turned into a reality, it works.
Did you know that 40% of consumers have made purchases based on advertising they saw on social media websites, that’s incredible. With that being said I need to state for the record that in the social arena my money is on Facebook, I am all in. Their social platform is open to developers which makes it more appealing to me as a business owner but it’s also gaining ground on MySpace by leaps and bounds in terms of users. I am not saying stop your Google or Yahoo advertising either, I am just saying add Facebook to your arsenal too!!
If you are a website owner and are considering adding social networks to your advertising budget this next year, please drop me a line, I would love to discuss your strategy with you, I think that this is an arena that I can help you out in because I am a student of social networking and have some ideas that I don’t think are out of the bag yet.
I was reading a post by Mike Sachoff on Webpronews this weekend and decided to repost it here. He references a recent report by Razorfish group in his post.
Forty percent of consumers have made a purchase based on advertising they saw on a social media site, and 76 percent said they were comfortable with advertising on social networks, according to a new report by Razorfish.
“Connected consumers embrace social media, are actively building and refining their own trusted personal networks and are rapidly dabbling with emerging communication offerings like Twitter,” said Garrick Schmitt, Razorfish Group Vice President of Experience Planning and FEED editor.
“We find that consumers are more open to advertising as part of their everyday experience than commonly assumed.”
The report found that 65 percent of connected consumers say that retail loyalty programs influence purchasing decisions.
Loyalty services like Amazon’s Prime or Best Buy’s Reward Zone are key for retailers to do well in the competitive online environment.
Web sites that offer personalized recommendations strongly influence connected consumers. Over half (65%) said that they have made a repeat purchase on a site that featured an automated recommendation based on their previous purchase.
Schmitt said that 60 percent of consumers use widgets on Web sites, and close to half watch videos on their mobile devices.
“The uptake of widgets, mobile devices and social media tells us that marketers need to design experiences for consumers across a world of fragmented digital media,” he said.
Ads On Social Networks Drive Purchases | WebProNews
To be effective you have to figure out how to become part of the conversations people are having within the social network and target your ads around the conversations.