Forrester Research has just released “US Interactive Marketing Forecast, 2009 To 2014″ and is forecasting that “Interactive marketing will near $55 billion and represent 21% of all marketing spend in 2014 as marketers shift dollars away from traditional media and toward search marketing, display advertising, email marketing, social media, and mobile marketing. This cannibalization of traditional media will bring about a decline in overall advertising budgets, death to obsolete agencies, a publisher awakening, and a new identity for Yahoo!.”
According to Mashable’s Adam Ostrow, in the report Forrester estimates that:
Social media marketing to grow at an annual rate of 34 percent – faster than any other form of online marketing and double the average growth rate of 17 percent for all online mediums. Of course, social media is starting from a smaller base. Forrester estimates that $716 million will be spent on the medium this year, growing to $3.1 billion in 2014. At that point, social media will be a bigger marketing channel than both email and mobile, but still just a fraction of the size of search or display advertising ($31.6B and $16.9B, respectively).
What are your company’s short and long term plans for integrating social media marketing?
photo credit: juliegomoll
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