According to the results of recent studies conducted by Forrester Research, mobile advertising and social network advertising are set to grow at a phenomenal rate in the USA.
Reports from Forrester predict a high rate of growth for all the online sectors, but growth rates will be especially high for mobile advertising and social network advertising.
The overall growth for the online sector is expected to be a respectable 17% in the six year span from 2008 to 2014. However, the rate of growth for the mobile advertising industry is expected to be much higher, at about 27% per year, and for social network advertising, the growth is expected to be at an explosive rate of 34% per year compound annual growth rate (CAGR).
Actual figures are likely to go from the current $716 million to $3.1 billion during the six-year period ending in 2014. The overall interactive marketing spend in the U.S. is expected to just double, from $25.5 billion to $55 billion during the same period.
Forrester Research Vice President and Research Director, Christine Overby said, “Marketers don’t need to start revolutions in order to innovate, they need to solve problems”. She further says, “Social technologies allow for accessible innovation where the risks and costs are not as high, but the return is significant”.