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Sunday, June 15, 2008
Driving Opportunities Through Participating Marketing with Heather Dougherty, Research Director, Hitwise
Social Networking has achieved rapid growth from network effect and media coverage. My space is continuing to dominate the Social Network category in the US market. Social Networking users are willing to participate in multiple networks. The amount of time interacting with Social Networks has increased substantially. The average visit length for the first week of may in 2008 was over 27 minutes. The average length is 2007 was 15 minutes.
Retention rates are still high, so loyalty does continue among many users. High volume of inventory could prove significant relationship building opportunities. Social Networks are not just the playground of the younger users anymore. The 25-34 age group has had an increase of 9% since 2005.
The shift to an older demographic even more pronounced for Facebook. From 2005 - 2008:
25-34 = 7% increase
34-44 = 11% increase
45-54 = 8% increase
Big companies are getting into Social Networking.
by: Shawna Seigel
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