Social media spending 'remains low'
October 15th 2009
Social Media Optimisation News
Getting customers to spend money on social media
remains a challenge for website marketing
executives, research has shown.
There has been a growth in the number of people
using social media, but only 11 per cent of people
are spending anything across these channels,
according to a KPMG survey.
Almost half of Brits are using social networking or
blogging sites, while 37 per cent of people visit
online news feeds.
Of the 89 per cent that do not spend any money
online, only a paltry one in ten (11 per cent)
suggested that they could spend anything on online
media over the next 12 months.
Commenting on the figures, media partner at KPMG
David Elms explained that the Barometer survey
illustrates the impact of "structural change" across
the media sector.
He said: "Monetising online content is the holy
grail of the media sector.
"The challenge is changing the mindset of a consumer
population that is used to accessing free online
content."
Media mogul Rupert Murdoch recently laid out plans
for a bold test of the changing media landscape by
indicating that readers of his News Corporation's
online output will soon be required to pay a
subscription to view any content.
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