Social media campaigns are predicted to grow in the coming years despite recession budget cuts.
Even with the economic downturn, marketers plan to increase monies spent on social media advertising campaigns. According to the recently released Forrester Reasearch US Interactive Marketing Forecast, social media is set to see a compound annual growth rate of 34 percent over the next seven years. This tops the list of key online advertising channels predicted to experience growth over the same period.
The growth amounts to an estimated $2.35 billion spent on social network advertising campaigns worldwide in 2009 according to Emarketer. Recent research conducted by the European Interactive Advertisers Association (EIAA) delivered similar findings. According to the EIAA study, European advertisers are opting to invest in online campaigns over traditional media outlets. All good news for social media sites, which provide a unique opportunity for users to spread the word about their favorite products and Web sites.
Tags: social media spending