I’m just back from the Word of Mouth marketing convention in Las Vegas and one of the biggest pieces of news came from PQ Media. Their research shows marketers are expected to spend more than $1.35 billion this year on word of mouth marketing, making it the fastest growing segment in marketing services. But stand by. The real kicker is where things are going in the future. PQ Media is forecasting spending of more than $3.7 billion by 2011.
According to PQ Media, the major reasons for word of mouth marketing’s 37.7% growth in 2007 include a decline in consumer use of traditional media, a consumer shift towards digital alternative media, and the fact that consumers are increasingly less engaged with traditional media.
Digital 3000 