Saturday, May 16, 2009

Marketing Must Change? No, It Has Changed

by Jeff Rohwer
From MarketingVox
48% of Millennials Enlist on Brand/Fan Pages; Here's Why
84% of Millennial users notice ads on social networks, with a whopping 74% clicking infrequently on them, according to research from The Participatory Marketing Network and Pace University's Lubin School of Business' Interactive and Direct Marketing Lab.
Even so, only 19% of surveyed Gen-Yers find social networking ads relevant; 36% claim they never to click on the ads.
A corroborating report from IDC, released in December, found social network ads are less effective than other forms of online marketing.
But that isn't to say this medium lacks merit for brands hoping to harness the Zeitgeist's power. 62% of Millennials admitted they've visited a brand or fan page on a social network; 48% actually joined.
Top reasons to join a brand group or fan page included:
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%)
"More work must be done to understand what drives participation and engagement within social networks," said Co-Founder/ Executive Chairman Michael Della Penna 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; s/he also spends about $101 online per month.
And these aren't merely Millennials. Pew observes that social networking profiles quadrupled among US adults between 2005 and 2008. 35% are on one; the percentages lower with each older generation.

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