Word of mouth marketing to attrach $1.35 bln in 2007
Word-of-Mouth (WoM) Marketing is the fastest-growing segment of the $254 bln marketing services sector of the media industry, which includes among others, branded entertainment, direct marketing and public relations. WoM marketing grew almost five times faster than the overall marketing services sector in 2006 and more than six times faster than the overall media industry and nominal GDP. Total WoM marketing expenditures are projected to climb at a compound annual rate of 30.4% in the 2006-2011 period to $3.70 bln as brand marketers take advantage of dedicated WoM marketing strategies for improved return on investment (ROI), according to PQ Media. Spending on WoM marketing is forecast to grow 37.7% in 2007 to $1.35 bln.