Realistic or too optimistic? What do you think? Should we expect the same in Canada?
“NEW YORK — After years of interactive advertising being dominated by search and display advertising and e-mail programs, new outlets and more sophisticated marketers portend more diverse spending in years to come, according to a new study.
Forrester Research, like nearly all ad-spending forecasts, projects marketers will shift budgets online at a quick pace in the next five years. By 2012, it expects the market will hit $61.3 billion, up from $18.4 billion in 2007. In five years, Forrester expects interactive spending to account for 18% of marketing budgets.
Forrester sees much higher spending growth in newer areas. It expects buying in the “emerging channels” category (in-game advertising, social networks, mobile) to grow from $1 billion to $10.6 billion in 2012, when it will make up 17% of all spending. Online video is set to grow from $471 million in 2007 to $7.2 billion in 2012, accounting for 12% of online marketing spending.” – Brian Morrissey , Brandweek
You can read the full article here…
It’s kind of hard to believe, especially when my province (Ontario) just spent 6 million dollars on completely ineffective 30-second commercial spots for the provincial elections/referendum. When will the government learn to stop letting ad agencies decide which marketing communications activities they should be engaging in? Until the ad agency compensation structure is changed, every ad agency will convince you that you need a TV spot. I mean common! $6 million! for what? Just imagine what that kind of budget could have accomplished if it was put towards a social media strategy.
I am bold enough to say that for 1/100th of that budget given to me personally, I could have given Elections Ontario a significantly better result. Oh well, at least we can celebrate “Family Day” now…