We’ve talked a lot about social media and its value to businesses, so I thought it would be useful to note a recent Nielsen study that found that time spent on Facebook is up 700 percent.
“In the U.S. alone, total minutes spent on social networking sites has increased 83 percent year-over-year. In fact, total minutes spent on Facebook increased nearly 700 percent year-over-year, growing from 1.7 billion minutes in April 2008 to 13.9 billion in April 2009, making it the No. 1 social networking site when ranked by total minutes for the month.”
Jon Gibs, vice president, media and agency insights, Nielsen Online, is quick to point out that older social networking sites like MySpace and Friendster have fallen out of favor – fairly rapidly I might add – with consumers. Who’s to stay that Facebook and the ever-popular Twitter won’t go the same route in one or two years when something “better” comes along?
Nevertheless, Facebook’s worth is currently estimated at $10 billion, and people continue to join the social media site in record numbers. Whether a new site appears on the scene and takes the No. 1 spot is anybody’s guess, but Facebook is here now and clearly getting the most traffic. If it’s not already, Facebook most definitely needs to be a part of businesses’ marketing plans this year and for years to come.
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