Yesterday afternoon was a hot one in the city. I was making my way through Soho Square towards the Groucho Club, for the launch of the fourth annual Search Marketing Report and I was pleased to see that Soho Square was packed with media types catching the afternoon sun and chucking back champagne. When I say pleased; I really mean jealous, (don’t you people have work to do?) but I took this as a good sign that perhaps things are really bouncing back for digital media.
I got to The Groucho (quick celeb check… Lenny Henry, Ross Kemp, Danny Dyer) and was greeted by our Econsultancy hosts; Senior Analyst, Jake Hird, Research Director, Linus Gregoriadis and a very nice Guava Champagne cocktail from the sponsors (nice touch Guava!) We chatted about the report and the general state of the industry (consensus – search up, display down), as the room filled up and the cocktails went down. Guava’s Martin Dinham began to round us up, so we took our places. Now in it’s fourth year this report, (from over five hundred respondants), is rather extensive and now includes social media; so I’ll highlight a couple of points that stood out for me.
Use of Paid Search Services
Use of SEO Services
Involvement in Different Areas of Search
Significant jump, from 55% to 60% in the number of companies planning to increase SEO spend this year. Paid search outlook also positive, with a 7% jump to 52% planning to increase their budgets.
(I am going to suggest that Jake include a media-type-per-square-metre density-count in Soho Square for next year. I’m sure there’s something in this.)
Biggest Area of Growth
Social media, (of course) is this years biggest growth area, with two thirds (65%) of companies planning to increase spend this year. Interestingly 15% are planning to increase their spend by more than 100%!
Technology & Analytics
Search Engines and Social Media Sites
Barriers to participation
Overall, I found it extremely encouraging that the report shows very clear indications of growth in the industry, and indications that search and particularly social media, is gaining in credibility and accountability for marketers. It is also interesting to note this occurs whilst there are still gaps in knowledge, resource assignation and performance monitoring awareness.
(I know what I’m going to be writing about for the next six months of course.)
A full copy of the Guava/Econsultancy Search Industry Benchmarking Report 2010 is available from Econsultancy
16 hours ago