Social Media is growing and individuals are flocking to social networking sites and now an increasing number of businesses are getting on board as well. So, what is social media? Wikipedia defines social media as “Information content created by people using highly accessible and scalable publishing technologies. At its most basic sense, social media is a shift in how people discover, read and share news, information and content. Social media has become extremely popular because it allows people to connect in the online world to form relationships.”
Marketers Increase Social Media Spending
According to eMarketer a study conducted by the Aberdeen Group revealed that 63% of companies plan to increase their social media marketing budgets for 2009. More specifically, 26% of businesses plan to increase their budget by 1-10%, 16% of businesses by 11-25% and 21% of businesses by more than 25%. In fact, worldwide social media advertising spend increased by 46.7% in 2008 and is expected to increase an additional 17.3% this year to $2.35 billion.
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