I’ve spent a lot of time over the past few weeks revising (and talking about) my eMarketer forecasts for social network ad spending. The upshot is that I have lowered estimates for 2008 and beyond. All the reasons are detailed in the various news articles that covered our new estimates. A few examples:
(the latter is an especially insightful post, IMO)
I’m still a believer in the power of social networks and social media as a way to market to consumers. Tapping into the viral nature of consumer communications — the peer recommendations — is the holy grail. But the quest for the grail was long and arduous and so is this quest.
My forecast revision is more about right-sizing expectations than it is about downgrading my view of the business. That’s important to remember, whether you are a marketer advertising in the space or a company trying to turn a profit.
I actually hope that some of these sites prove me wrong and do better than I am expecting. I would love to be proven wrong.
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