Handily, just weeks before an IPO tipped to give Facebook a value twice that of Ford, some research has come to light underwriting investors’ colossal projection of faith.
Here, to give the flavour, is Mediapost’s take on it:
Social media has surpassed search, and is poised to overtake online display advertising as the No. 1 source of digital media planning and buying, according to the latest edition of a quarterly survey of US advertising agencies. The survey, conducted by Strata, the agency media software and processing firm owned by Comcast, found that 69 per cent of agency executives now consider social the “focus” of their digital ad spending — up 32 per cent over the past year, and now a close second behind display (71 per cent) as the dominant digital media-buying platform in the minds of agency executives.
“The survey demonstrates that there has been a shift from search – which has dominated the digital part of the business for the last five to ten years -– to social,” says Strata CEO and president John Shelton.
Shelton said that view was affirmed to him this week while he was attending a technology conference of executives from small and mid-size agencies in New York City this week in which social was the main topic of discussion and nary a word was mentioned about either display or search.
“I did not hear the word ‘search’ once,” he said, “ and maybe two out of three of the vendors [presentations] and three out of four of the [agency executives’] questions were about social. Social media is absolutely their main focus right now.”
Enough said. At least, for now.