Social Media Future Bright, Challenging

• Posted: Sunday, December 23, 2007
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• Author: pradhana
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• Filed under: Broadband, Internet Advertising, Market Survey, Online Services, Social Network

What's the best way to market to a billion users?

Social media applications will attract over one billion broadband users within five years, according to Strategy Analytics' "The People's Revolution: Implications of Web 2.0 and Social Media Applications" report.

It is usually a great thing to be able to use the word "billion" in a forecast. Yet Strategy Analytics said that real pitfalls could ruin business prospects for some social networks.

"The long term financial viability of even the largest social media sites depends heavily on the ability to develop targeted advertising techniques that are as yet largely unproven, or may ultimately be thwarted by privacy regulations," said David Mercer, principal analyst at Strategy Analytics.

Social networks are attracting marketers' attention for a reason. eMarketer estimates that by the end of 2007, 38% of all US Internet users age 3 and older, or 72 million people, will have used social networking at least once a month.

By 2011, one-half of all Internet users, nearly 105 million people, will use social networking regularly, and that's just in the US.

Read more - eMarketer

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