Driving the growth is the continued consumer shift to alternative media and the marketers' need for increased brand engagement and ROI.
Exclusive findings from PQ Media's "Word-of-Mouth Marketing Forecast 2006-2011" are being presented today at the Word-of-Mouth Marketing Summit 2007 in Las Vegas by PQ Media CEO Patrick Quinn.
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 WoM marketing is forecast to grow 37.7% in 2007, to $1.35 billion, as brand marketers continue to shift more dollars to WoM marketing tactics as part of their cross-platform marketing campaigns, according to PQ Media's Word-of-Mouth Marketing Forecast 2007-11. The growth of WoM marketing is expected to continue to outpace that of the overall advertising and marketing sectors, as well as the growth of the U.S. economy, in 2007.