Recently Forrester released a report estimating the 2009 interactive budgets for various industries, the estimate puts the total interactive budget at under $30 million. Take a moment to look at the graph below.
There are a few things to note form this graph:
- Consumer goods companies are spending the most on social media
- Financial services companies are spending the least amount on social media
- Display advertising spend is still strong across all of the industries in the report, I suspect we will see this change in 2010
- The travel and hospitality industry is spending the most on mobile marketing. This is where companies such as Foursquare are going to really come into play in 2010
- No surprise that the travel and hospitality industry as well as the financial industry are spending the most on email marketing
Social media and mobile marketing are the two new kids on the block and thus I’m assuming that is why they they are still on the very bottom of the interactive budget totem poll. However, I think we are going to see this change as we see more companies get comfortable with the space. We are still in the early stages of both social and mobile but in 2010 we should see both of these budgets increase. I was actually a bit surprised to see that display advertising was so high on the interactive budget list so I’m really curious to see how that budget is going to change for 2010. I was also surprised to see how small of a percentage the interactive budget makes up of the entire marketing budget for industries such as financial, media/entertainment, and consumer goods.
I’m assuming that social media in this case strictly refers to external social media such as twitter, facebook, and linkedin. However, what about large budgets that companies are spending on internal communities? There are several companies that are spending around 7 figures to launch their own internal social networks using software solutions such as Jive and SocialText.
What do you think of the report? Surprised by anything or was this expected?
Comments