While it's no secret that the recession has had some serious impact on virtually every industry, it's comforting to discover that search marketing has remained relatively intact across all markets.
Of course, even just keeping steady, without losing ground - in this economic climate, that's a win.
It seems that, as of yet, search has done just that. In fact, in most cases, it has continued to grow.
"According to a report by online analytics firm Covario, search spend actually ’surged’ during the final quarter of 2008."
Covario saw a 43% year over year increase compared to 2007. This is actually a gain over the third quarter of 2008 by 7.2%. Of course, these numbers are only based on specific Covario clients - large ones who haven't, as of yet, seen much impact from the current economic troubles.
Google announced their earnings today. Obviously, they are the 700 lb gorilla in the search world. And they're doing well. Very well.
Here are the numbers (courtesy of Search Engine Journal):
* Total revenue is up at $5.7 billion in Q4 2008 vs $4.83 in 2007 (18% increase) and $5.54 in Q3 of 2008 (3% increase)
* Total revenues for Google-owned sites is at $3.81 billion in Q4 2008 vs. $3.12 in 2007 (22% increase) and $3.67 billion in Q3 of 2008 (4% increase)
* Total revenues through Adsense programs of partner sites is at $1.69 billion vs $1.64 in 2007 and $1.68 billion in Q3 of 2008.
And Google CEO Eric Schmidt had this to say:
“Google performed well in the fourth quarter, despite an increasingly difficult economic environment. Search query growth was strong, revenues were up in most verticals, and we successfully contained costs."
What does that mean? Basically - even though things aren't going well, we've seen that search is still a way to reach the people who are spending money. In essence, search advertising is still working.
And what does this mean for local companies hoping to reach those local clients? Cutting your yellow pages, your newspaper or magazine ads...even your television ads - well - that might be a wise decision. Users are online. Buyers are online. And we can help you reach them.