Social Network Ad Spending In The UK Set For Vast Increase By 2012

These are exciting times for social networking. It has now become hugely popular, with 50% of people in the UK now actively using social networks. The UK population is now spending a vast amount of time on these networks. This is a factor that a large number of UK brands have taken advantage of, by means of e.g. spending on online ads. By 2012, the amount of spending on social network ads is set to double.

It is probably no surprise to most of us that Facebook has now reached the status of being the most popular social network, both in the UK and the US. Advertisers have been quick to see the potential for reaching customers through such networks and their fan pages, paid ads etc.

Of course, Facebook is not the only popular social networking site. In 2010, Twitter, another of the larger social networks, announced that it had added 100 million new accounts, which is an impressive figure, especially considering it revealed it had signed up 175 million accounts in total since its launch date.

In addition, online channels are known to be cheaper than advertising by e.g. the television and the media, therefore making this an appealing medium in which to advertise. Recently marketing directors have also began to realize how social networks offer good opportunities to create positive social experiences for customers. The level of UK social networkers increased by 15% last year but is set to rise by only 10% this year.

The largest of the social networks, particularly Facebook, were created in the US, which is a possible explanation for social network ad spending being at its highest percentage within the US.  In 2010, the spending was estimated at in excess of $1.6 billion. Other countries are trying to compete with this level of spending and although they are performing well, they still have a little way to go to catch up with the US markets.