The growth and mass adoption of social media over the last 5 years is truly phenomenal. Businesses have cottoned on to the opportunities that are presented by social media and now major corporations scrambling to reallocate their advertising budgets away from traditional media and into the new digital economy.
It is well known that social networking sites attract millions of users. Many people spend a lot of time on these websites, often visiting them several times every day. This saturation of audience makes social media websites an ideal marketing and sales platform.
According to the Nielsen Company, social media users universally spend approximately 40 percent more time social networking sites than they did even a year ago.
Social networkers have taken to teasing, prodding, poking and tickling each other as well as playing the various games that are available in social networking sites. These games are free to play, but some game developers are make money selling goods through their games.
In a statement made to Newsweek by Playfish CEO Kristian Segerstrale, said that Playfish sells around 90 million virtual items per day. Outsell, a research company, reports that 43 percent of business-to-business marketers plan to increase their social media marketing activities this year despite having no significant change in their advertising funds.
Because of the popularity of social networking sites, new opportunities have sprouted for internet marketers and online game developers.
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