Social Networks Turn To Business
In the US this year, advertisers will spend $40 million to reach a business audience on online social networks, and that is just the beginning. According to eMarketer projections, that ad spending will reach $210 million in 2012.
Social networks with a business twist are getting their place in the sun - take LinkedIn for instance, where the audience has more than doubled in the past year (and which is also planning it’s Indian foray).
In fact, vertical industry networks targeting just about any job description or category are proliferating. Among the most prominent are ITtoolbox, a 1.3-million-member community of information technology professionals; Legal OnRamp and LawLink for attorneys; and Reel-Exchange, for film and video professionals.
Even Facebook, is not far behind - a June 2008 deal with Visa, which created an application called Visa Business Network for small businesses on Facebook, signals that it will probably attract more advertising aimed at a growing business audience.
Also read:
DealTracker - LinkedIn Raises $53 Mn Valued At $1 Billion
Linkedin - Getting Its Place In The Sun
Social Networking - Moving Beyond The Young
Confirmed - The Six Degrees Of Separation Theory Works
Are More Asian Women Logging Onto Social Networks?
Maslow And Social Networks
Filed under: Business, Digital culture
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