Word-of-mouth Spending Hits USD 1.5 Billion

We’ve written about the importance of word-of-mouth communication in multicultural marketing before and it seems that the overall interest in this channel is increasing. PQ Media this week says that word-of-mouth marketing spend hit $1.54 billion last year. While most traditional channels saw spending slow, outlays behind w-o-m tactics including buzz, influencer, community and viral marketing grew 14.2 percent in 2008. Food and drink brands led the way, accounting for 30 percent of all w-o-m spending.
PQ Media is forecasting the w-o-m spending will increase another 10.2 percent this year despite the recession. Total spending is expected to grow at a compound annual growth rate 14.5 percent between 2008 and 2013.
Reaching consumers via online communities like Twitter, Facebook and MySpace increased 26 percent from 2007.

Source: Brandweek

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