With new research indicating that heavy Facebook and Twitter users tend to spend more money on the web than non-users, having a social network presence has never been more valuable for your overall media planning strategy. And the vast majority of online retailers have apparently recognized it - 9 out of 10 are planning on having a Facebook presence by the end of 2010 (Source).

This comScore study, indicates that the more time a person spends on Facebook, the more money he or she also spends online. Twitter users also tend to spend more dollars online (but not in direct correlation with their level of use).

Appealing to a huge number of Gen Y and Xers with their disposable incomes (see this post for more information on this demographic) and increasingly gaining older users, social networking is no longer dominated by tweens and teens with less power over their financial purchases.

For business owners with local store marketing needs, maintaining a Facebook presence can help build brand awareness, distribute information, build a sense of community, offer additional customer support and boost sales (both in-house and online). Now there's something to consider while contemplating your local internet marketing strategy.