Sizing the US marketing market
Marketing
Update: We have had so much interest in this topic, that we have released an entire market research report on it titled "Sizing US Marketing." Look for it at the Blackfriars eStore. You can read the press release which updates the sizing to $1.074 trillion for 2005 here.
A couple members of the press have recently asked Blackfriars, "How much do organizations spend on marketing each year in the United States?" Well, some of the data we collect in our quarterly survey that drives the Blackfriars Marketing Index actually provided us with an answer. That data tells us that advertising is about 30% of marketing spending in most corporations. We further know that the current estimate for overall advertising spending in the US is $263.7 billion, according to Robert J. Coen of Universal McCann (Stuart Elliot in the NYTimes wrote this article on the topic last week)
The result? Blackfriars estimates the size of the US marketing market to be about $867 billion in 2004. Another way to think about that number is that it is about 8% of the US Gross Domestic Product. Now some may think this number is rather large. But think: how many large corporations have substantial marketing and/or corporate communications departments (hint: nearly all of them unless they are trying to hide under a rock)? How many corporate events are sponsored each year around activities like the Super Bowl or big Las Vegas conventions? Now think about how much time, money, and energy goes into all the corporate Web sites in the United States. All those categories of spending count as marketing activities and are included in this number.
Please comment if you think we're wrong or have other sources of data. But from where we sit, we see US marketing as an almost $1 trillion activity.
Update: We have had so much interest in this topic, that we have released an entire market research report on it titled "Sizing US Marketing." Look for it at the Blackfriars eStore. You can read the press release which updates the sizing to $1.074 trillion for 2005 here.
A couple members of the press have recently asked Blackfriars, "How much do organizations spend on marketing each year in the United States?" Well, some of the data we collect in our quarterly survey that drives the Blackfriars Marketing Index actually provided us with an answer. That data tells us that advertising is about 30% of marketing spending in most corporations. We further know that the current estimate for overall advertising spending in the US is $263.7 billion, according to Robert J. Coen of Universal McCann (Stuart Elliot in the NYTimes wrote this article on the topic last week)
The result? Blackfriars estimates the size of the US marketing market to be about $867 billion in 2004. Another way to think about that number is that it is about 8% of the US Gross Domestic Product. Now some may think this number is rather large. But think: how many large corporations have substantial marketing and/or corporate communications departments (hint: nearly all of them unless they are trying to hide under a rock)? How many corporate events are sponsored each year around activities like the Super Bowl or big Las Vegas conventions? Now think about how much time, money, and energy goes into all the corporate Web sites in the United States. All those categories of spending count as marketing activities and are included in this number.
Please comment if you think we're wrong or have other sources of data. But from where we sit, we see US marketing as an almost $1 trillion activity.
posted by Carl Howe at
10:10 AM
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