Survey reveals lack of strategy and budget for paid search among major advertisers
A new survey claims that paying to ensure a prime location on a search engine results page is not something for which the majority of the world’s top companies either have a specific strategy or a specific budget.
The survey, carried out by the World Federation of Advertisers (WFA), revealed that over two-thirds of major international businesses canvassed for their attitudes towards so-called ‘paid search’ campaigns, admitted they did not have an identifiable strategy regarding such campaigns; and that neither did they allocate a specific part of their advertising budget towards paid search.
Despite these findings, the survey revealed that, nevertheless, 40% of those companies canvassed devoted over £21.66 million each to their digital marketing strategy.
The survey also identified the seriousness with which businesses ultimately viewed their digital marketing campaigns, revealing that many were choosing to use the services of a specialist online marketing agency to help with such campaigns rather than relying on their existing advertising agency partner to provide the most appropriate advice.
Paid search campaigns, the survey revealed, were most often judged on their success according to the click-through rates they managed to generate (the view of 71% of respondents), together with the average cost per click (the opinion of 65%).
Fewer than 20% of companies surveyed said they based the success of these pay per click (PPC) campaigns on whether any sales were ultimately generated; leading the WFA to conclude that such marketing techniques were valued by businesses for influencing consumers in the first stages of the latter’s purchasing strategies.