Whilst there are less-measurable commercial benefits to using Social Media, Sponsorships do create the ideal opportunity for businesses to develop additional revenue streams using their client-base and network. Matt Kinsman’s article Associations Experiment With Social Media published in January suggests that whilst companies have struggled to monetize social media, 21% are generating revenue through sponsorships.
The article published in Audience Development highlights the findings of a survey conducted by Angerosa Research Foundation in which 300 US Publishing Associations were asked about their participation in Social Media.
The research findings also suggest that (of those who have set up their own network) 27% use their own software whilst 25% use Microsoft Sharepoint and 64% use other Software such as High Logic, Moveable Type or Community of Practice. Interesting only 19% are using established platforms such as TypePad, Ning and Second Life to build their own network. This may explain why the biggest challenges with Social Media were expressed as cost and resource allocation.
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