Google announced their Q1 2008 quarterly earnings with a collective sigh of relief for those wondering if the search giant would succumb to a lethargic US economy and a downturn in online ad spending. For the first time, Google’s earnings abroad toppled those in the US, giving it a true global reach.

Analysts conclude it’s Google’s targeted ad business, which marketer’s use to drive direct traffic to sites rather than building brand awareness with image ads (banners), that makes the search leader less likely to experience a slow down.

Take a look at the current internet adoption rates over time and you’ll see why. With internet adoption for the US alone at close to 80% for adults, online search marketing is the clear winner in one-to-one and direct marketing today. Read what you need to do to take advantage of this trend after the break.

To start take an inventory of:

• Where you get your business now: Print advertising, word of mouth, Yellow Pages, direct marketing, networking.
• Your search engine results for key phrases that describe your business
• Your cost per conversion for your Pay Per Click campaign
• Where your competitors are ranking for key phrases that describe your business
• Your average site visits and where they came from
• The percentage of conversions to site visits

Are you a clear winner in your market? Are there opportunities you’re missing based on your search engine rankings? With answers to the questions above you’ll be able to determine a rough estimate of your cost per conversion, a key factor in determining where to direct your marketing budgets.