A new report from eMarketer has revealed that the USA is leading the way when it comes to the ascendancy of online marketing across a variety of different platforms.
The organisation said that some 6.7 per cent of all online advertising budgets this year will be earmarked for social networks such as Facebook and Twitter, thanks to the slow but steady economic recovery in the US and the focus among marketers of reaching the millions of users of social media.
Researchers estimated that this year will see over $1.68 billion spent by US advertisers on Twitter and other social networking sites in 2010, which represents an increase of more than 20 per cent compared to last year. By 2011 this figure will have rocketed to over $2 billion, they added.
In December last year, eMarketer said that there would be some $1.3 billion spent on online advertising across social networks during 2010, but online marketing across these platforms has been so successful – particularly on Facebook – that analysts have been forced to drastically revise their forecasts upward.
The eMarketer report said that around half of all advertising spending on social networks will go to Facebook, due to the continuing eclipsing of MySpace by the site. Twitter has become part of the eMarketer calculations for the first time, after launching its advertising arm earlier this year.
The group said that while 2010 will see relatively little spent on Twitter by online marketing campaigns, its potential to grow over the next few years is massive.