What Businesses and Advertisers Should Know Before Advertisingon Social Media Websites
The social media rise through websites including Facebook and Twitter and the increased use of electronic communication has dramatically shifted advertising to the Internet. Google and Facebook are among those websites with lucrative and growing advertising revenues. Facebook’s online advertising business, in particular, is rapidly growing, taking in an estimated $1.86 billion in worldwide advertising revenue in 2010, with estimates of revenues more than tripling to $5.74 billion by 2012. Companies both large and small advertise on Facebook and use many creative means to market their products to Facebook’s over 750 million active users. Many methods exist to advertise a product on Facebook, most of which are quick and inexpensive, making Facebook advertising appealing and especially attractive to newer businesses. At the same time, the ease and inexpensiveness with which companies may now promote products means companies may neglect safeguards against any illegal or infringing conduct, especially with younger, less well-funded companies with fewer resources.