Social Media influence

Now a day’s business is growing through social media network. It has set a platform where organizations, brands and individuals are getting good benefits to promoting their business .Social media has become an industry today. Social media is the necessary factor for business and brand marketing without it advertising cycle looks incomplete.

 Companies throughout the world are making increasing use of social media, especially for marketing purpose. Some of the earliest innovators are now taking increasingly integrated and sophisticated approaches to their social media strategies, including more people across the organisation and managing multiple brands across numerous platforms. Many food and drinks firms are attempting to create strategies based on past experience, while others are taking a more cautious wait-and-see approach to social media. At the time of writing, it is believed that almost 21,700 companies worldwide have a Facebook page. According to data from Burson-Marsteller, over 60% of Fortune Global 100 companies had at least one Facebook page as of March 2011. The average number of pages managed by the respective firms increased from 1.2 in 2010 to 4.2 a year later, during which time the average number of 'likes' per Facebook page rose by 115% to almost 40,900 worldwide. Companies are also updating their Facebook pages far more frequently.

Social media networks are playing a vital role within the global advertising industry. As the global online audience has grown, so too has the online advertising industry. This has largely occurred as a result of the widespread belief among businesses that social media networks such as social networking sites offer the chance to engage with customers more closely, through which more targeted advertising and marketing campaigns can be developed. 

In the UK, the online and internet sector overtook TV advertising in terms of advertising expenditure for the first time during 2009. As a result, the UK market for online and internet advertising is now worth more than GBP4bn per year. Google has recently forecast that global online advertising expenditure may reach as high as $200bn by the second half of the current decade, driven by the increasing amount of time spent online by consumers.

One of the world's most developed markets is the US. According to eMarketer, total online advertising expenditure reached $25.8bn in 2010, up by almost 14% from the previous year. This figure is forecast to reach $32.6bn by 2012 (up by over 26% from present levels) and may reach $50bn by 2015.

Source http://www.just-food.com/management-briefing/social-media-influence-on-business-and-driver-of-online-advertising_id115809.aspx