Companies put spending focus on search networks
While much emphasis has been put on social media marketing in recent years, a new survey has revealed that the focus is still very much on text ads when it comes to marketing online.
The 2013 State of Paid Search report from Hanapin Marketing revealed that the Pay-Per-Click (PPC) advertising industry is set for more growth in 2014, where text ads continue to dominate spending.
Hundreds of search marketing professionals participated in Hanapin Marketing's survey, where almost two-thirds (63 per cent) indicated that they had PPC budgets of more than $300,000. Nearly half (45 per cent) said their budgets were $1 million or more.
Almost all of the survey respondents (95 per cent) ranked text ads as very important/important, followed by remarketing (64 per cent). These companies, however, didn't seem to put much spending focus on social ads with 68 per cent of respondents ranking it as moderate to not important.
When it came to increasing expenditure, social media ads did somewhat get a boost with 52 per cent planning to spend more on Facebook ads and 20 per cent to allocate more money to other social networks.
More respondents (64 per cent), however, indicated that they would increase spending on search networks.
Most specifically, Google AdWords topped the list of increased spend for 2014, with 73 per cent of respondents focusing on growth here.
This was followed by Bing Ads (55 per cent), display networks and Facebook (both at 52 per cent), LinkedIn (26 per cent) and Twitter (24 per cent).
Emphasised as the "hot new thing for 2014", Conversion Rate Optimisation (CRO) will receive more focus next year. The survey indicates this will receive more attention than entering new ad networks, automation software and tag management.
Posted by April Revake.