A staggering $19 billion is expected to be spent on search engine advertising in 2011, according to Econsultancy's "State of Search Marketing Report 2011."
The report indicates search engine spending will skyrocket by 16% at some point during the year, and will reach a projected $19.3 billion.
What are the factors impacting this surge in search engine spending? The biggest factor is the meteoric rise in mobile Internet as a major player in the industry. According to the study, 79 percent of Internet marketers say mobile technology is now a significant factor for their company.
Another factor in search engine spending is social networks. Some 84 percent of Internet marketers now utilize Facebook, Twitter and other social networks, compared with 73 percent in 2010.
Google continues to be the "800-pound gorilla" when it comes to search engine advertising. Econsultancy's study shows 95 percent of companies that conduct online marketing campaigns advertise with Google AdWords.
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