Search expenditure to rise by 24 per cent
Search engine marketing expenditure will rise by 24 per cent to £2.75bn in 2008, according to new research.
Companies in the UK will increase their search engine marketing adspend, despite fears of an overall advertising downturn in face of a recession, according to research from E-consultancy.
E-consultancy’s Search Engine Marketing Buyer’s Guide also reveals paid search will increase by 23 per cent to £2.24bn in the next year, while search engine optimisation (SEO) will increase by 32 per cent to £330m.
Key trends for 2008 include increased scrutiny on search ad performance due to economic worries, new patterns of consumer behaviour which will challenge search marketers, while complexities of search marketing will also increase as the market matures. The research also reveals Google will continue to dominate the industry.
E-consultancy editor in chief Chris Lake says: “Search spending is continuing to increase at a healthy pace, although the growth rate will not match the increases seen over the last few years.”
He adds: “There are various reasons for the lower growth rate. Economic concerns will affect the overall ad industry, and search isn’t entirely immune from a dip in budgets. Marketers and agencies are savvier than ever, so scope for growth in return-on-investment is limited. Growth in consumer Internet usage is flattening out but the sector is certainly more robust than other media channels that have a less measurable return on investment, and should continue to grow for years to come.”
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