When it comes to reaching consumers, paid search ads offer a great way for local businesses to target based on location. For this reason, this type of ad pulls in tons of ad dollars around the world. According to a study by ZenithOptimedia, global paid search spending is expected to reach $55.7B this year.
In addition to targeting based on location, marketers sing the praise of paid search ads because they allow control over everything from keyword triggers to the time of day the ads appear in search results. Best of all, the most common form of paid search ad runs on a pay per click (PPC) model, meaning advertisers only pay when someone clicks on their ad.
Here are some stats that give a glimpse into the current state of the paid search ecosystem:
- Google accounts for 84% of the world’s paid search market share. (Covario)
- 85% of retailers said search marketing (including paid and SEO) was the most effective customer acquisition tactic. (Shop.org/Forrester Research)
- Computers (desktops, laptops, etc.) captured 72% of total paid search clicks in Q4 2013, with phones pulling in 17% and tablets accounting for 11% of total clicks during the quarter. (Kenshoo)
- Mobile devices will account for 50% of all paid search clicks globally by December 2015. (Marin Software)
- Five of the top personal luxury companies spent nearly $22 million on Google AdWords desktop and tablet text ads across their brands in 2013. (AdGooroo)
Be sure to check back next Friday for our next edition of Top 5 Local Ad Stats of the Week. Have a great weekend!