Believe it or not in this last week there were other global events taking place other than the World Cup. The Cannes Lions Advertising Festival just took place in France from the 20th to 26th June and by all accounts there was a trending topic (excuse the borrowed phrase from Twitter); and that was the key role that Social Media Marketing plays in the makeup of Advertising in 2010.
Among the VIP’s at this year’s Cannes was Facebook founder Mark Zuckerberg. Mark delivered a well-attended speech at the festival where he highlighted the way Social Media has changed the relationship with the consumer. Facebook joins the ever increasing presence of digital giants like Google at the Cannes Lions Advertising Festival.
Laura Klauberg of Unilever said:
“Social Media isn’t just another channel. It’s not just about Facebook, it’s much bigger as it changes the relationship with the consumer, forcing us to change the whole mindset of our business”.
As it turns out, Unilever is increasing its digital ad spend by 50% in 2010 as it turns to Social Media Marketing to complement its traditional marketing avenues.
The 2010 Social Media Predictions
- Social Network Advertising spending will increase 14%
- Around $1.3 billion is expected to be spent in the U.S. alone
- 60% of Internet user’s in the U.S. will use a Social Network at least once a month in 2010
Why is Social Networking a Popular Marketing Tool in 2010?
Most marketers now agree that Social Media gives them immediate access to feedback about their products. In addition to this they can respond as quickly helping them to build a relationship with their clients and prospects.
When compared with traditional forms of advertising like TV, Social Media Marketing provides great value for marketers.