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About 70 percent of Americans are participating in online social networks, according research commissioned by MySpace, along with Isobar and Carat USA. (Ed. Note: We removed the link to the full report at FIM’s request and will out it back when they give the ok.) With information also culled from marketing research firms TRU, TNS and Marketing Evolution, the study incorporated feedback from about 3,000 U.S. Internet users, as well as MySpace clients for in-depth case studies. The mainline findings included:
— More than 40 percent of all social networkers said they use social networking sites to learn more about brands or products that they like, and 28 percent said at some point a friend has recommended a brand or product to them.
— Brands such as Adidas and Electronic Arts attributed more than 70 percent of their marketing return on investment to the “Momentum Effect,” which the researchers define as the quantifiable impact of a brand within a social network.
— Of those polled, 69 percent said they use social nets to connect with existing friends and 41 percent said they use the sites connect with family members.
— On average, social networkers spend more than seven hours per week on social networking sites, and that those hours are driving the growth of overall time spent online. More than 31 percent of online social networkers claim they spend more time on the web in general, after starting to use a social network.
Rafat adds: MySpace and Fox are so enthused about this study that they’re doing a two-day conference for marketers, which started yesterday in Beverly Hills, featuring the top execs from Fox Interactive and MySpace and other headliners such as Ben Silverman, CEO of Reveille. Of course, this is a study about MySpace, touting MySpace as an AdSpace…so take it with a grain of salt.