Interactive marketing is expected to experience significant growth between now and 2016
As the Internet evolves, so does interactive marketing.
So what is interactive marketing, and how does it relate to your online business?
According to “Origin and Definition of Interactive Marketing” (PDF) by Regina Virvilaite and Rima Belousova, interactive marketing is “management of relations with customers” and the “continuing process during which consumer’s needs, interests and possibilities are identified and satisfied.”
John Deighton’s definition of interactive marketing from “The Future of Interactive Marketing” is listed in Wikipedia as “the evolving trend in marketing whereby marketing has moved from a transaction-based effort to a conversation.”
As you can tell, interactive marketing is about listening to your audience, engaging with them and supplying them with the content, product or service they seek.
Growth behind interactive marketing
Interactive marketing has found a home on the Internet, and its presence is only expected to increase.
A recent report from Forrester Research predicts that by 2016, spending on interactive marketing will reach nearly $77 billion.
Ad Age reported further on Forrester’s findings, saying that the $76.7 billion is “equal to TV spending this year and comprising 35% of all advertising.”
Out of all the types of interactive marketing, search marketing is expected to continue to be the biggest, which is expected to reach $33.3 billion in spending by 2016.
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Suggestions for interactive marketing
What interactive marketing strategies are you currently using? Have you been experiencing positive results with them?
From reading up on Forrester’s data, these are the interactive marketing types I’d suggest using now:
-Email: Email has been a steady success story for online marketers. Email is a medium that has become habitually used on a daily basis by over 60% of online adults. It is also expected to experience a compound annual growth rate (CAGR) of 10%.
-Social media: What better way to facilitate conversations with audience members than through social media? Forrester predicts a 26% compound annual growth rate for social media, the second highest only behind mobile marketing.
-Mobile marketing: As technology evolves in smart phone and tablet industries, the devices are becoming cheaper and more desirable. Apps are a wave of the future, and local marketing initiatives may be the big reason Forrester is predicting a massive compound annual growth rate of 38% for mobile marketing.
-Display advertising: Growth in display can be seen throughout more interactive ads including rich text and online video. Forrester reports a CAGR of 20% for display advertising.
-Search advertising: For online publishers, utilizing search engines is a major way of generating traffic, both paid and organic.
As the web becomes more interactive over the next few years, interactive marketing will grow in popularity. Be sure to start conversations with your audience today, and keep them going for years to come.