More businesses are allocating more of their marketing budgets to the social networking site Facebook as a new report out yesterday suggests that small businesses account for the majority of Facebook’s advertising revenue according to ricg.com.
Social media marketing is fast becoming the most popular way to reach the consumer with 60 per cent of all Facebook’s ad revenue for 2010 or the equivalent of $1.12 billion came from SME companies.
Debra Williamson, principle analyst at eMarketer told Advertising Age, “Those advertisers are really juicing Facebook’s growth. They buy advertising in bulk. They’ve done it for years on Google, and now they’re taking that expertise to Facebook.”
Social media budgets should become larger with the increase of online marketing budgets with the eMarketer forecasting that 2011 online marketing budgets would exceed $28 billion among American companies seeing a decline in more traditional advertising platforms such as print.
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