Mobile clicks (smartphones and tablets) account for 50% or more of click volume (which syncs with Google?s disclosure in May that mobile click volume has surpassed desktop in 10 countries).
On the desktop side, checks say that PLAs continue to be a driver of both clicks and CPCs. Given color from our field work, we see upside to our Google paid clicks estimates, more than offsetting potential downside to CPC growth. In terms of 2016 budgets, partners see Google as being in a strong position, with budgets increasing in mobile search and YouTube.
Given the strong click volume trends and steady inroads on mobile conversion that should help drive CPCs higher over time, we believe we can see upside surprise to revenue growth throughout the year. In terms of new products, marketing partners were positive on early results from Customer Match (announced at the end of September) which enables advertisers to target ads based on their customers' email addresses (similar to Facebook?s Custom Audiences product)
