Kevin Newcomb reveals the results of the latest Search Marketing Benchmark Survey from MarketingSherpa at SearchDay where he reports that search marketing budgets are expected to increase by double-digit percentages next year. This is no surprise as we have seen a continual trend over the years of companies allocating more funds toward search marketing efforts. One reason for this increase is the anticipation of higher prices. That would include increasing PPC prices on keyword buys as well as firms who continue to increase pricing.
Here are a few highlights of the report:
- Many marketers plan to increase PPC budgets by at least 11 percent next year.
- Most of the budgets are expanding in anticipation of rising keyword prices, rather than a desire to increase reach.
- Even more big spenders (those advertisers who spend at least $25,000 a month on search) planned double-digit percentage increases.
- Despite the rising costs, respondents said that search still provides the second-best return on investment (ROI) among all online and offline marketing tactics.
- SEO was ranked as second-most effective, with 18 percent calling it the strongest tactic, and 36 percent rating it as good ROI.
See Kevin’s concise post for more details of the report which is based on data collected from more than 2,400 marketers who conduct or supervise search marketing in-house, as well as more than 700 agency executives.