Mashable: Social Media Marketing Spend to Hit $3.1 Billion by 2014
We already knew that social media marketing budgets were on the rise, but now we know by how much. Forrester Research is out with their Interactive Marketing Forecast for the next five years, and estimates 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). …
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