Buddy Media Accelerates Business as 2010 Turns Into the Year Social Gets Serious
Leading social marketing platform company expects 300% annual revenue growth as social media exits the experimental stage and goes mainstream
NEW YORK, March 1 -- Buddy Media, the leading social marketing company for the world's largest brands and agencies, expects to post a 300 percent revenue increase as 2010 shapes up to be the year that social marketing gets serious for major marketers.
This announcement comes on the heels of several timely market indicators: a major beverage company, PepsiCo, abandons the holy grail of advertising for community building; expert trend spotters predict that a whopping 70 percent of brands will increase their investment in social tools; and, a first of its kind research study is released, proving that Facebook fan pages are an effective marketing tool(1).
"Social marketing has proved it can effectively link brand awareness, brand loyalty and brand growth," said Jay Cunningham from Anheuser-Busch, a Buddy Media customer, a brand that has built a following of 650,000 fans across more than 15 campaigns. "The Buddy Media Platform has been a key element to our social strategy allowing us to efficiently and powerfully market in the social space."
The Buddy Media Platform has evolved experimental social marketing programs into substantial and influential modern marketing campaigns, successfully building fan followings and brand champions for customers like fashion icon Diane Von Furstenberg, the world's largest cruise operator Carnival Cruise Lines, and beverage giant Anheuser Busch.
Mike Lazerow, CEO of Buddy Media said: "Social marketing isn't defined by one industry sector alone. Companies of all sizes, offering a wide array of products and services, are productively and profitably connecting with their customers within new social channels. Moreover, that channel is built upon a scalable platform that will deliver an increasingly unified brand experience to anyone, anywhere. Social marketing can benefit every brand."
To celebrate the company's growth and the arrival of social media as a serious marketing medium, Buddy Media is hosting a special event on March 2 at the Hiro Ballroom entitled Social Marketing is No Laughing Matter, with a special performance by Seth Meyers, the head writer for Saturday Night Live and anchor of its weekly news sketch Weekend Update. Attendees will range from brand marketers to advertisers to digital media specialists, but will all represent one unified interest.
"Carnival was among the first cruise lines to embrace social networking and our enhanced Facebook campaigns that Buddy Media powers have brought even more 'Fun Ship' enthusiasts together to share their feedback, stay informed and locate others with common interests," said Stephanie Leavitt, Manager, Online Publishing, Carnival Cruise Lines. "Through social marketing, we are building a dynamic and valuable community for the Carnival brand."
Buddy Media, which does not publicly release financial results and projections, currently has 45 employees and is cash flow positive as it enters its next phase of growth. In just two years, Buddy Media has emerged as one of the most innovative, well-managed and enviable technology companies in the social media space. In the ever-changing arena of social media, Buddy Media is distancing itself from the competition, evidenced by the signing of 150 brands and agencies as customers in 2009, and an additional 40 new customers since the start of 2010.
The Buddy Media Platform provides advertising, branding, marketing and PR agencies with the ability to access and use the platform on behalf of their clients. This has introduced a new level of empowerment for those responsible for efficiently and effectively creating, managing and tracking social campaigns and has established Buddy Media's credibility in being named a preferred Facebook developer.
In today's social media world, every brand needs a Buddy. The Buddy Media Platform gives brands and agencies total control over their social marketing campaigns, allowing them to launch, maintain and measure their brands' efforts. Some of the world's largest brands, including Anheuser Busch, Southwest Airlines and the NHL, work with Buddy Media to create, manage and track their social media profiles and campaigns. Based in New York, Buddy Media is a privately held company backed by Softbank Capital, European Founders Fund, GreyCroft Partners, Peter Thiel, Mark Pincus, Roger Ehrenberg, Howard Lindzon and additional investors. For more information, visit http://www.buddymedia.com
(1) How Effective is Facebook Marketing?", was conducted by Utpal Dholakia, associate professor of management at Rice University's Jones Graduate School of Business, and Emily Durham, a Jones School alumna and founder of Restaurant Connections, a Houston-based restaurant consultancy.
Ruder Finn for Buddy Media
212 715 1542
Source: Buddy Media
CONTACT: Patrick Burek, Ruder Finn for Buddy Media, +1-212-715-1542,