Lastminute.com Aims for £2m Social Media Revenue

Social Media is becoming an increasingly important aspect of Lastminute.com’s revenue sales in 2010. If the current growth rate of their Facebook page continues, they have estimated social media activity could earn them £2m in sales revenue by the end of the year.

The fan base is growing by 10-20% each month and is currently at 700,000 fans (well, 69,244 last I checked) -

“We know how much social media is generating for us and it may not be huge but it’s providing significant enough revenue for us to want to expand it,” says Paul Fitzpatrick, Lastminute head of digital.They will be using social networks for exclusive promotions, giving those that engage a benefit in doing so.

We’re extremely impressed with the way Lastminute.com values their Facebook presence. Although social media referral traffic may not be as significant a source of traffic as other platforms (yet),  they are where users are spending the most time online and becoming a valuable source of content sharing.

3 years ago, Social Networks & Blogs accounted for less than 9% of all UK Internet time. They now account for almost 23% of UK Internet time – a 340% increase, from 40 million hours to 176 million hours in one month.

This growth rate is unlikely to slow down anytime soon. With advancements made to the Facebook platform that resembles the closest to the semantic web we’ve seen yet, the Facebook Open Graph protocol will continue to drive more users to and from the giant social network, encouraging an ever increasing rate of content sharing that online businesses must get a foot into.

Congratulations LastMinute.com – You’ve done us proud! x