Spending on search engine marketing will increase by 24 per cent to £2.75 billion by the end of this year, new industry forecasts reveal.

According to E-consultancy’s latest Search Engine Marketing Buyer’s Guide, expenditure on paid search will also increase by 23 per cent to £2.24 billion next year, while adspend on search engine optimisation will jump by 32 per cent to £330 million.

Concerns about the current unstable financial climate will also spark increased scrutiny of the performance of search advertising during the rest of the year, the guide also predicts.

“Search spending is continuing to increase at a healthy pace, although the growth rate will not match the increases seen over the last few years,” commented Chris Lake, editor-in-chief of E-consultancy.

He added: “Economic concerns will affect the overall ad industry, and search isn’t entirely immune from a dip in budgets. Marketers and agencies are savvier than ever, so scope for growth in return-on-investment is limited.”

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