Wednesday, August 12, 2009

Word-of-mouth spending continues to grow

Source: ePharm5

Whereas most advertising channel budgets are being slashed, word-of-mouth advertising is growing, according to PQ Media. The research firm found that word-of-mouth spending in online communities in the United States increased 26.6% in 2008 to $119 million. The company projects it will continue to rise 14.5% compounded annually between 2008 and 2013. Consumer goods firms spent the most on word-of-mouth (17.4%), followed by food and drink companies (12.2%), and finance and B2B services (9.5%). Healthcare and pharmaceuticals fell in the middle with 4.1%.

To learn more about PQ Media's Word-of-Mouth Marketing Forecast, click here.

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