Word of Mouth Marketing Spending to Break $1 Billion in 2007
By Bob Troia
At this week’s Word of Mouth Marketing Summit and Research Symposium, PQ Media presented findings from their first-of-its-kind, in-depth analysis of the word of mouth marketing industry:
Word-of-Mouth (WoM) Marketing is the fastest-growing segment of the $254 billion marketing services sector of the media industry, which includes among others, branded entertainment, direct marketing and public relations. WoM marketing grew almost five times faster than the overall marketing services sector in 2006 and more than six times faster than the overall media industry and nominal GDP.
Spending on word-of-mouth (WoM) marketing jumped 35.9% in 2006 to $981.0 million and is expected to top $1 billion in 2007, making it one of the fastest growing alternative media segments. Driving the growth is the continued consumer shift to alternative media and the marketers’ need for increased brand engagement and ROI.
Does your boss still need convincing?