Paid search is still a lucrative marketing tool for UK businesses, and the value of the market is expected to grow considerably over the next six months, a new report claims.
According to the report, UK Paid Search Agencies Buyer’s Guide, produced by independent research organisation, Econsultancy, the total value of the paid search market at the end of last year was 3.68 billion. This figure, the report predicts, is likely to rise 14% to £4.19 billion by the end of 2012.
In a press statement, Econsultancy says that the on-going commercial interest in paid search, whereby a business pays a premium to have its URL appear at the top of various search engine results pages, is the result of ‘the fact that it remains an effective and measurable channel for generating a positive return on investment.’
Econsultancy says that that paid search also has the advantage for marketers in that it is far less restrictive in terms of what can and cannot be done when compared with more conventional marketing tools:
“The flexible nature of paid search, whether in terms of spend, campaign duration and timing, or user targeting, also provides benefits which are not so direct in other forms of marketing.”
Econsultancy’s press release states.
Elsewhere, the report also chooses to demonstrate the strength of the paid search market by pointing to the success of one particular search engine company, Google.
Google, the report says, increased its revenue in the UK by 18.7% between the period covering January to March 2011 and the same three months in 2012.