UK search marketing spend 'to reach £2.75bn in 2008'

The amount spent by companies in the UK on search engine marketing will increase by nearly a quarter (24 per cent) to reach £2.75 billion in 2008, according to research from E-consultancy.

Figures from the organisation indicate that firms will up their ad spend despite fears of an advertising downturn given the ongoing effects of the credit crunch and concerns over a recession.

Paid search will increase by nearly a quarter (23 per cent) to £2.24 billion in the same time period, which search engine optimisation (SEO) will rise by almost a third (32 per cent) to £330 million.

Chris Lake, editor-in-chief of E-consultancy, states: "Growth in consumer internet usage is flattening out but the sector is certainly more robust than other media channels that have a less measurable return on investment and should continue to grow for years to come."

In related news, a study by market intelligence platform StrategyEye recently predicted online advertising and social media to provide the greatest returns to firms in the short term.