Who would have guessed social media would take as successfully as it has been? If you still haven’t arranged to have your business interact on the many popular social media platforms, you will probably find some new motivation after reading this latest update on the rapidly growing social media industry.
According to Gartner, global revenues due to social media for 2012 are expected to grow over 43% from last year’s numbers. Thanks to successful internet marketing, $8.8 billion of this revenue is projected to come from advertising.
Social media marketing packages account for the significant growth within this sector for the upcoming years. According to predictions from eMarketer, revenues from social media are projected to reach $11.9 billion in the year 2014. The U.S.’s portion within these predicted revenues will continue to be at approximately 53% for the next few years.
To put things into comparison, the Interactive Advertising Bureau estimated that the global ad revenues from internet advertising were $31 billion back in 2011. The numbers from social media advertising have not been released from the Interactive Acting Bureau at this point in time.
To the businesses who are actively involved with social media, good job and keep up the great work. To those who are still uninvolved, what are you waiting for? With even more growth expected for the years to come, now is the time to get your foot in the door and take off with using social media as a creative personal way to interact with your customers.