“Google search loses its free pass with buyers”

Key points

• Advertisers scrutinize Google search performance as AI changes click value and impressions.
• Seasonal Q4 bidding raises cost-per-click and pressures remaining prime ad slots.
• Clients consider shifting 10% to 20% of Google budgets to Meta and Local Services Ads.
• Google search revenue grew 12% in Q3, slower pace attributed partly to AI Mode.
• Marketers fear growing off-Google search activity from AI agents and LLMs.