Retail advertisers are spending too much money on search, says Piper Jaffray research analyst Aaron Kessler. Rising competition over keywords has driven prices up to the point where it's no longer
feasible to just keep buying keywords. "Three years ago, Internet search was a good value for any retail category, but now it's not always the value it was," Kessler says. He's quick to add that
search is still a great marketing channel when it works, but retail advertisers in particular should rely on it less because the returns are no longer what they used to be. Instead, retail marketers
need to reevaluate their search strategies and aim for a more comprehensive, multichannel strategy.
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