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| MySpace and Isobar Debut Research Study on Social Networks and Marketing Fox Interactive Media has released a series of research findings from the first comprehensive study examining both the growth and marketing power of online social networks. Conducted in partnership with Isobar and Carat USA by leading independent marketing research firms TRU, TNS and Marketing Evolution, the study incorporated both quantitative and qualitative feedback from approximately 3,000 U.S. Internet users, as well as MySpace clients for in-depth case studies. The results has been released in Los Angeles at "Never Ending Friending", a conference for FIM marketing clients. Key findings revealed today include the fact that social networks have caused a fundamental shift in the way people interact with each other and with media. More than 70% of Americans 15-34 are actively using social networks online, and the research showed social networking sites taking a strong foothold in the primetime hours; enriching existing relationships with family and friends; and initiating meaningful brand connections. "This is an incredible piece of research that will not only serve as a valuable resource for the advertising community, but will also enable us to learn even more about what our users want so we can continue to deliver the best product possible", said Michael Barrett, Chief Revenue Officer of Fox Interactive Media. "There is no doubt that social networks are a phenomenon, but it's our job to continue building our products in a way that maximizes the experience for both consumers and advertisers - and the learnings from this type of data will be crucial to that mission." Gaining "Momentum" As part of the study, Marketing Evolution - a marketing ROI measurement and consulting firm for leading global brands - delved into the impact of social interaction on campaigns within MySpace. The research found that brands such as adidas and Electronic Arts attributed more than 70% of their marketing return on investment to the "Momentum Effect." The "Momentum Effect", a new metric coined by Marketing Evolution, quantifies the impact of a brand within a social network beyond traditional advertising impressions to encompass the "pass along" power of consumer-to-consumer communication. The research also reveals key findings regarding unique marketing opportunities available to advertisers within social networking environments. According to the study, more than 40% of all social networkers said they use social networking sites to learn more about brands or products that they like, and 28% said at some point a friend has recommended a brand or product to them. "Marketers are beginning to truly understand how to activate the communities that exist within social networking environments", said Sarah Fay, President, Isobar. "At Isobar, we believe the brands that win are those whose consumers tell each other the best stories. Social networks provide the perfect platform for creating the 'Momentum Effect.' Also, by communicating through the consumer, the brand's message carries more authenticity and credibility." Never-Ending Friending According to the study, Internet users aren't just trying social networks, they're using them more than other forms of communication and entertainment. Of U.S. social networkers asked which free-time activity they would choose, users chose interacting on sites such as MySpace.com as their favorite activity online or offline, ahead of television viewing and on par with cell phone usage. And more consistent with the offline world than might be expected, the vast majority of time was spent connecting with family and friends as opposed to meeting new people. Of those polled, 69% said they utilize social networks to connect with existing friends and 41% said they use the sites connect with family members. In addition, the study revealed that current social networkers spend on average more than seven hours per week on social networking sites, and that those hours are driving the growth of overall time spent online. More than 31% of online social networkers claim they spend more time on the Web in general after starting to use a social network. They were also more inclined to engage in other entertainment media and activities including listening to music, playing games and talking on the cell phone. The study also reinforced that MySpace was the Web's most popular social networking site, with an overall user satisfaction rating of nearly 80%. "MySpace has thrived as a global community driven by self expression, discovery and connection of now more than 100 million people around the world who use it each month", said Chris DeWolfe, CEO of MySpace. "Users are empowered to create and share, build and maintain relationships and in the process have created an entirely new medium that is deeply integrated into their everyday lives. Smart marketers know how to tap into the passion and energy of individuals who care about their products to vastly multiply the impact of their campaigns." Why Friending Never Ends In addition to tracking overall usage of the site, the research study focused on the reasons why users are continuing to flock to online social networks. The data indicated that social networkers use the sites not just to improve their online lives, but also to make their offline lives richer and more exciting. More than 48% said they are having more fun in life in general and 45% said their lives are more exciting as a result of spending time networking online. In addition, 57% said they've found more people with similar interests and 52% said they feel more in tune with what's happening socially in their lives due to social networking sites. Study Methodology The Never Ending Friending study was conducted in multiple phases encompassing independently-fielded qualitative, quantitative and in-depth client case study research. A series of focus groups of MySpace users in Los Angeles, Chicago and New York were conducted by TRU. An online survey of 3,000+ U.S. panelists aged 14-40 was conducted by TNS and included three segments: MySpace users, social networkers from other sites, and non-social networkers. Finally, detailed case studies including behavioral tracking and survey measurement with two MySpace clients, adidas and Electronic Arts were conducted by ROI measurement firm Marketing Evolution. write your comments about the article :: © 2007 Networking News :: home page |