A corroborating report from IDC, released in December, found social network ads are less effective than other forms of online marketing.
Despite these findings regarding ads, social networking may still have merit for brands hoping to harness the Zeitgeist’s power, writes MarketingVox. Some 62% of Millennials admitted they’ve visited a brand or fan page on a social network and nearly half (48%) actually joined.
The survey found Millennials join a brand group or fan page for the following reasons:
- Getting news or product updates (67%)
- Having access to promotions (64%)
- Viewing or downloading music or videos (41%)
- Submitting opinions (36%)
- Connecting with other consumers (33%)
Survey results indicate that, though ads as we know them might not resonate with Millennials, there may be other things yet to be discovered, that do. “More work must be done to understand what drives participation and engagement within social networks,” said Michael Della Penna, co-founder and executive chairman of the Participatory Marketing Network. “Many [advertisers] are still waiting for proof that increasing investment in this burgeoning channel will yield measurable benefits.”
January research from Netpop found the typical social network user addresses 110 people per week on average and that these users spend, on average, about $101 online per person per month.