We all know that the advertising industry is shrinking. One recent account quoted that 32,000 jobs have been lost in the advertising industry since the beginning of the recession. So how does this apply to the online portion of the advertising industry?
Forrester Research would say not at all.
Forrester projects that between 2008 and 2014, spending in the online advertising industry will grow at a compound annual growth rate (CAGR) of 17 percent.
Of that total, growth in spending on social media tops the list, projected to grow at a 34 percent CAGR. Growth in spending on mobile media is not far behind, expected to grow at a 27 percent CAGR. Though it is expected to grow at a slower CAGR, search marketing is expected to make up roughly 60 percent of all online marketing spending in 2014, or $31 billion.
The slowest growth rate? Email. Spending on email marketing is expected to grow by an 11 percent CAGR. Does this mean that email has peaked?
In my world, the answer is yes.