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Social Media research
Contents
Introduction...........................................................................................................2Souter Consulting and Social Media................................................................2Marketing Charts.............................................................................................2Forrester: Interactive Marketing to Hit $55B by 2014............................................3Nearly 70% of Online Adults Use Social Media, Often Research Products..............4Nearly 70% of Online Adults Use Social Media, Often Research Products..............4SocNets Have Tiny Effect on Brand Perception......................................................6Study: Marketing Execs Must Realize and Learn to Use Power of Social Media......8SocNets, Web Video Radically Alter Online Behavior...........................................11Bazaarvoice: Industry Statistics...........................................................................13
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Introduction
Souter Consulting and Social Media
I put this document together to support the work I do in Social Media for mycompany,Souter Consulting Limited.
Marketing Charts
These incredibly useful numbers / quotes etc. were culled from theMarketingCharts website– a veritable mine of data!If you’re interested in which report I go the data from – go to the MarketingCharts website, and search for the titles of a particular section: it should bring upthe original report. Justin Souter16 July 20092
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Forrester: Interactive Marketing to Hit $55B by2014
The latest forecast from Forrester Researchpredictsthat interactive marketing in the US will hitnearly $55 billion by 2014 and will grow - at a compound annual growth rate of 17% - from 12%of overall ad spend in 2009 to 21% over the next five years.According toForrester’ s Five-Year Interactive Marketing Forecast Report, search marketing - whichnow composes more than half of 2009’s overall interactive spend, will continue to make up thebiggest portion of interactive dollars, rising from $5.4 B in 2009 to $31.6B in 2014 at a compoundannual growth rate of 15%.Social media marketing and mobile marketing will experience the highest growth rates among thedigital tactics, the report stated. Social media, which represents only $716M today, is expected toballoon to $3.1B by 2014, and grow at the highest compound annual rate, 34%. Forrester notedthat owned social media assets (such as internal blogs, community sites) are currently the onlyemerging media getting traction in today’s economic climate.Similarly, mobile marketing, which accounts for $391M in 2009, will grow to $1.3B in 2014 at acompound annual growth rate of 27%.Email marketing, which expected to grow at a compound annual rate of 11%, will experience theleast growth proportionately, though the amount of spending on it will still rise from $1.2B to 2.1Bin five years.
Ad Budgets to Shrink
Forrester also believes that advertising budgets overall will decline over the next five years asdollars migrate from more-expensive forms of traditional media to less expensive, more efficientand more measurable interactive tools.Despite this shift, Forrester VP and analyst Shar VanBoskirk believes that many marketers will findways to hold onto their hard-won budgets.Rather than relinquishing their marketing dollars, smart marketers will “allocate unusedadvertising dollars into investments like innovation, research, customer service, customerexperiences, and marketing-specific technology and IT staff, in order to further marketing’sstrategic influence within their companies,” she said.
Nearly 70% of Online Adults Use Social Media,Often Research Products
More than two-thirds (68%) of online Americans say they visit online blogs, communities or socialnetworks, and
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Justin Souter16 July 20093
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