17% of Time Online is Spent on Social Networking Sites and Blogs

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Here’s a not so surprising statistic to folks in our line of work: 17 percent of time spent on the Internet last month (August) was devoted to social networking and blog sites.

Those that might be surprised by this are businesses looking for new customers with advertising.  The 17 percent statistic is up over the past year from 6 percent and year-over-year, estimated online advertising spent on the top social network and blogging sites (like Facebook and MySpace) increased 119 percent, from approximately $49 million in August 2008 to approximately $108 million in August 2009.

This is all from a recent Nielsen study measuring consumer use of and business advertising on social networking sites and blogs. Advertisers are finding that advertising on social media sites and blogs works. While advertising spending declined overall since last year due to the economy, advertising spending on social networking sites and blogs increased across the board, especially in the entertainment, travel and business-to-business industries. Read a press release and see and charts on year-over-year changes in ad spending and most popular advertising sites from the Nielson Reports. If you are not devoting time and resources to reaching customers online and more specifically, via social networking sites and blog, you are missing out on great possibilities.

Here are some great examples of companies who are blogging:

Bowen Family Homes

Highland Homes

Stamford Apartments