Can You Build your Exfuze Business with Social Media?
September 9, 2010
Social Media Marketing Spend to Hit $3.1 Billion by 2014
Do You Think You Can Build your Exfuze Business with Social Media?
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).
Not surprisingly, some of this growth comes at the expense of offline advertising. Forrester estimates that online advertising will grow from 12 percent of total marketing spend this year to 21 percent by 2014, meaning that offline ad spend will fall. In fact, Forrester concludes that “overall advertising budgets will decline,” meaning efficiencies are being had by shifting money to the Web.
If all you’ve done is setup a Facebook page and you don’t know where to take your Exfuze business next with Social Media, then Contact Us today for a FREE Consultation on the best options for you!
Here’s the good news, WE CAN HELP!
Contact Info:
Brett Hudson – (561) 705-3308
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