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October 15, 2003
U.S. Bancorp Analyst: "The search market has become the Holy Grail of Internet Marketing."
Big news for the search engine marketing industry: Senior Research Analyst Safa Rashtchy of U.S. Bancorp Piper Jaffray Inc. was recently quoted as saying, "The search market has become the Holy Grail of Internet advertising and continues to grow faster than our expectations."
Rashtchy went on to say, "We believe search is actually gaining some market share from other types of online marketing. Our initial estimates of $7 billion by 2007 is most likely to be too conservative and we believe that we are still at the early stages of an expanding and large market."
He went on to describe how search engine marketing commands a higher ROI than all other types of online advertising.
A recent report from Jupiter Research adds support to U.S. Bancorp's analysis. Jupiter Research found that 76 percent of surveyed marketing executives who have used search engine marketing rate it as more successful than banner-style advertising. The analysts found 64 percent of those surveyed plan on increasing their spending in search engine marketing.
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