Social media is growing rapidly, but a common question is, exactly what industries is this relevant too and even more importantly which ones are growing and which are not?
A recent study conducted be Nielsen online showed that an excess of 17% of internet users time is spent in social networking. This amounts to around 108 million dollars in the month or August of social media advertising revenue. Even though a small portion of this would equate to substantial exposure some industries simply don’t have a large enough presence to justify the effort of getting involved.
The top 5 growth social networking industries out of a possible 13 shown by this study are:
The top five in revenue size as of August 2009 are:
- Web Media
- Public Services
- Retail Goods & Services
The travel and automobile industries in particular have shifted considerably from other online streams to social media along with finance and retail goods and services.