Says Worldwide Social Media Revenue Forecast to Reach $16.9 Billion in 2012. STAMFORD, Conn., July 25, 2012 View All Press Releases Analysts to Discuss Disruptive Technologies, including Social Media, at Gartner Symposium/ITxpo, October 21-25, Orlando, Florida Global social media revenue is forecast to reach $16.9 billion in 2012, up 43.1 percent from 2011 revenue of $11.8 billion, according to Gartner, Inc.
Advertising is, and will continue to be, the largest contributor to overall social media revenue and is projected to total $8.8 billion in 2012. Social gaming revenue more than doubled between 2010 and 2011 and is expected to reach $6.2 billion in 2012, while revenue from subscriptions is expected to total $278 million this year. "Usage of online social media has matured, and more than one billion people worldwide will use social networks this year," said Neha Gupta, senior research analyst at Gartner.
Global social media revenue to hit US$16.9bn in 2012 – the dawn of social commerce. Usage of online social media has matured and more than 1bn people worldwide will use social media this year.
Global social media revenue is forecast to reach US$16.9bn in 2012, up 43.1pc from 2011 revenue of US$11.8bn, according to Gartner. Advertising is, and will continue to be, the largest contributor to overall social media revenue and is projected to total US$8.8bn in 2012. Social gaming revenue more than doubled between 2010 and 2011 and is expected to reach US$6.2bn in 2012, while revenue from subscriptions is expected to total US$278m this year.
Online retail sites accessed by 93.8pc of Irish internet users in May. Online retail sites accessed by 93.8pc of Irish internet users in May Eighty per cent of internet users in Europe visited online retail sites in May 2012, equating to 314.6m users, according to ComScore.
In the top 10 markets for penetration of these sites, Ireland ranks No 2 with 93.8pc reach. The UK took the top spot with 94.2pc reach, and the global ranking also puts Ireland and the UK at the top. Rounding out the European top 5 were France at 89pc, Germany at 87.6pc and the Netherlands at 84.2pc. As far as engagement with these sites goes, UK users claimed the highest figure once more, spending an average of 101.1 minutes on these sites.
Finishing up the top 3 were French users at 70.7 minutes and Dutch users at 69 minutes. Online retail image via Shutterstock Elaine Burke. SocialMedia.ie - Social Media Marketing Training & Consulting Ireland. Many Irish companies are active across social media in one way or another, primarily on Facebook.
But what is the next step for these companies in order to turn Facebook fans into customers? Social Commerce is the next logical step in the process. Most Facebook users do not like to navigate away from the site when using so although they are willing to ‘Like’ a company’s page they are often unwilling to visit their website to make a purchase. Also as far as younger Internet users are concerned Facebook IS the Internet, and they will seldom navigate away from the site while online. How Facebook, Pinterest Compare In Social Commerce. Social Commerce « Brendan Hughes e-Commerce. Many businesses have been ‘exploring’ the opportunities of social media over the past number of years.
However, the time has now come for companies to think about realising a direct sales return from social media. A Nielsen report last year highlighted that 90% of consumers trust the opinions of people they know. 70% trust anonymous ratings and reviews posted online. Compare this with just 33% who trust online banner ads. Social commerce is about leveraging word of mouth referrals to support the sales process; harnessing the power of social and participatory technologies to drive conversions. Many brands have been shy about asking for the sale when engaging with social media. There has been an etiquette on social media that says we shouldn’t do the hard sell. 1. Dell makes millions through their ‘outlet store’ on Twitter where they inform customers about offers on refurbished computers and electronics. Facebook Working on New Features for Huge Social Commerce Push. Facebook is gearing up for a huge social commerce push.
The developer who recently discovered that the social network is testing a "Want" button, which would allow you to add products to a virtual wish list, has found a series of new coding for actions that would allow users to share product purchases, charitable donations or items purchased within Facebook games to profile pages and Timeline. Tom Waddington, a web developer for the site Cut Out + Keep, reached out to Mashable and provided details on the discovery. "The fact the code contains references to 'socialcommerce' is a sign that they're taking it seriously," Waddington said. "In the same way music, news and videos are shared on the site, Facebook is planning to allow users to share both Wants and Purchases, from items bought within games to donations. " "Considering the huge impact Facebook music has had on Spotify and news integration for sites such as Yahoo, social shopping seems to be the next focus," Waddington said.
Social shopping on the rise with Open Graph. Shopping and fashion apps and sites that integrate Open Graph are seeing significant increases in traffic from Facebook, leading the social network to advise on best practice.
In a post on the Facebook developer blog, product manager Austin Haugen wrote that shopping and fashion has become one of the fastest-growing categories of apps for Facebook’s Timeline. Citing the benefits of integrating these apps and websites with Facebook’s Open Graph, Haugen pointed to the success of brands like Fab, Lyst and Pose, who are using the service to develop a global presence, secure funding, and expand across the web and mobile devices. Noticing their increasing popularity, Facebook has made suggestions on best practice for developers working on similar apps, influenced by the success of these brands. Call to action First off, Facebook recommends a clear call to action that encourages users to add the app and start connecting with friends – and there’s no harm in offering an incentive to do so.