A new report exploring the market for paid search bid management technology has been published by Econsultancy.

The marketing resource’s study suggested that the market is becoming more competitive as search marketing uptake continues to rise in the UK.

Some of the trends explored in the publication include the growing focus on making the most of pay per click services amid the economic downturn and the need for a balance between automation and manual optimisation when it comes to bid management.

One benefit of bid management technology is its capability to make marketing campaigns more efficient, particularly when a large organisation needs to manage ads for thousands of keywords, Econsultancy suggested.

"This market will continue to prosper because online advertisers can use pay per click optimisation software to make their budgets stretch even further in a tougher economic climate," the report said.

Online marketers spent £981 million on pay per click services in the first six months of last year, according to the Internet Advertising Bureau.

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