Part 1: What’s Next In 2008? A Look At Current Trends
Here are the first five of a list of ten current trends that will affect how 2008 shapes up. After posting the final five trends, I will write a multi-part segment on how you can take advantage of each trend this year.
Growth In The Interactive Marketing Segment
Interactive marketing, which includes search engine marketing, e-mail marketing, online content and video ads, mobile marketing, and social media marketing, is consistently growing as a key advertising category. Over the next few years, spending on interactive marketing will more than triple, reaching $61 billion USD by 2012 according to Forrester Research. Interactive marketing currently makes up just 8% of all advertising spending and with the growth trend this percentage should increase to 18% by 2012.
Traditional to Alternative Media
Advertising in traditional media, like newspapers and magazines, will continue to be a key part of advertising campaigns, but more and more advertisers will experiment with or allocate portions of their budget to new, alternative media. Many marketers and advertisers are realizing better and more measurable ROI and each day the shift to new media will continue with alternative advertising spending being estimated to increase more than 21% from 2006 to 2011 while traditional advertising’s compound growth rate will stall at roughly 1% per year, according to a communications industry forecast published by Veronis Suhler Stevenson.
Blogging: Everyone Isn’t An Expert
Over the past several years, it seems like everybody and their Mom has started a blog. The word “blog” has moved from web jargon to a household term. When there are too many options and too much supply, demand usually wanes. I don’t think there are or can be “too many” blogs, but in 2008, people will narrow down their RSS feeds and will look for experts. With more bloggers out there than at any other time, people are beginning to realize they have many options on many topics when it comes to valuable and original content. Also, many individuals and companies that started blogs and joined the blogging bandwagon have let their blogs fall to the wayside or haven’t had much success, so I predict a natural correction is taking place as the committed and original bloggers are separated from bloggers simply looking to join the bandwagon or make more money by pitching their products/services on a blog.
Social Networking: Expansion, Explosion, and Older Age Groups
Sure, every teenager and most twenty-somethings are fully immersed in the social networking realm, utilizing websites like Facebook and mySpace to manage their friendships, pictures, etc… In 2008, social networking will expand and explode with niche social networking websites cropping up around every topic imaginable. Tools like Ning makes this more possible than ever. Social networking will also be utilized by older age groups as Mom and Dad and Grandpa and Grandma begin using social networking websites to make more efficient use of their time, stay connected with love ones, and share their media.
Small IS The New Big
Is a “multinational microbusiness” a contradiction or the future norm? In 2008, small continues to dominate as small businesses are further enabled to be more nimble, more global, and more innovative via technology improvements. With web 2.0, social networking, and more web applications than you can handle, it will become easier and easier to brainstorm an idea, deploy a business, and follow-through without being GE or having Warren Buffet as your financial backer.
Part Two Teaser: The World Continues To Flatten, Group Think Is In, The Green Life, Cell Phones (and how they’re used) Evolve, and Marketing Gets More Creative
