Leading Australian Businesses recognise value of online advertising
It is estimated that that the pay-per-click (PPC) paid search market in Australia will grow by 85% this year according to research firm Frost & Sullivan. The PPC market is expected to grow to $130 million this year and up to $350 million by 2009.
At the end of 2004, there were approximately 9,000 businesses advertising using PPC and according to Frost & Sullivan the number will reach 13,500 this year. Despite the fact than many firms have used paid search advertising for a number of years, the market is still relatively undeveloped in Australia. Two thirds of the current advertisers only started using paid search in the last two years.
The report also concluded that: Google was the market leader in 2004, followed by Overture and Sensis. The Australian industries that spent the most on paid search advertising in 2004 were travel & accommodation, technology and banking & finance. The fastest growing segments of paid search are the healthcare, retail, cultural, recreation and personal services industries.
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