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Social Media Marketing Spend to Hit $3.1 Billion by 2014

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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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Comments

2 responses to “Social Media Marketing Spend to Hit $3.1 Billion by 2014”

  1. James42 Avatar
    James42

    That’s really interesting, but I’m a little surprised because there are many cases where social media marketing is a lot cheaper for an equivalent form of offline marketing. Putting up a video you’ve made on YouTube, Veoh, and AdWido is free, whereas putting a commercial on the air is expensive. Then again, the online method doesn’t absolutely guarantee exposure, but it can reach high levels of exposure for a fraction of the cost otherwise.

    Reply
  2. Michael W. Kruse Avatar
    Michael W. Kruse

    What I find interesting is to think what existed in terms of social media five years ago. What will happen in the next five years? I don’t know how this study could possible take possible future developments into account.

    Reply

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