Search will grow, but slower
ADOTAS — Search marketing will grow this year but is expected to slow because of the economy.
Search marketing spending will increase 9 percent to $14.7 billion in 2009 from $13.5 billion a year ago in North America, according to the Search Engine Marketing Professional Organization. It previously said the industry would grow at more than twice that rate this year, from $15.7 billion in 2008 to $18.8 billion in 2009. The revised forecasts also predict that the industry will reach $19.8 billion in 2011.
Apparently, the new prediction would have been worse if the organization hadn’t…ahem…expanded the definition of search marketing. Kevin Lee, CEO of search-marketing firm Didit who is on SEMPO’s research committee, told the WSJ that it nows includes new forms of advertising such as some sorts of social media.
But all is not lost. Advertisers want better search-targeting technologies, and would pay for them, including targeting search ads to select groups of users based on what sites they visited or whether they had visited an advertiser’s site.
More than a quarter of advertisers reported that they were shifting budgets into search marketing from print magazines. Nineteen percent said they were shifting their budgets into search from print newspaper advertising.
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