Monday, December 27, 2010

Marketers Spending More on Social Media for the Wrong Reasons - The eMarketer Blog

Businesses are adopting social media, but they also are discovering it is no more "free" or "inexpensive." In fact, many seem to be finding that it costs as much money to use social media as any other advertising or marketing channel.

A few years ago, companies could run a few tests and gain some valuable learning without spending much.

But times have changed. Social media sites have matured, and you can’t do much for free anymore, eMarketer argues. A "promoted trend" ad on Twitter can cost $100,000 per day.

Top social media agencies are in demand, and they charge premiums for their work. "Earned" media hasn't been "costless,"either, but as social media "grows up," the costs are climbing as well. Along the way, the historic distinction between earned media and paid media also is blurring.

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