Marketers will spend an estimated $800 million in 2009 on social media, word-of-mouth and conversational marketing, increasing 23% over 2008 levels with growth projected to $3.2 billion in 2012, according to Jack Myers Media Business Report's newly published 2007-2012 Advertising and Marketing Investment Report. This growing category is difficult to track since many of the initiatives fall under promotional budgets, public relations and cause related marketing initiatives, and research budgets. To facilitate accurate analysis, internal customer service and loyalty marketing programs are not included in Myers' analysis. Jack Myers Media Business Report's newly published 2007-2012 Advertising and Marketing Investment Report is available exclusively to corporate subscribers at Jack Myers Economic Forecasts. Myers is the only leading forecaster to identify 28 advertising and non-advertising marketing categories, publishing data on 19 media categories and nine non-advertising marketing communications categories. The new category of Online Social, WOM & Conversational Marketing falls into the Non-Advertising Marketing sector based on its primary funding from non-media budgets. Detailed forecasts plus Jack Myers Media Business Report's full 2007-2012 Advertising and Marketing Investment Report are available exclusively to corporate subscribers at Jack Myers Economic Forecasts.
To communicate with or to be contacted by the executives and/or companies mentioned in this column, please email your information and the column headline to Jack directly at email@example.com.
This post originally appeared at JackMyers.com.
Follow Jack Myers on Twitter: www.twitter.com/MyersBizNet