Forrester Research, Inc have released a forecast for US interactive marketing spend and predict that social media spend will rise to $3.1bn in 2014.
The report summarises that social media spending will rise aggressively:-
- 2009 $716mn
- 2010 $935mn
- 2011 $1.21bn
- 2012 $1.65bn
- 2013 $2.25bn
- 2014 $3.11bn
Equally interesting is that digital spending will rise from 12% (as a percentage of all advertising spend) to 21% over the same period.
The report forecasts that social media spending has the highest compound annual growth rates over this period at 34%, trailed by mobile marketing at 27%.
Marketing spend as whole will decline as new and cheaper technologies, such as social media, decrease the need for traditional spend.
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