Google will revamp its online advertising network for the first time this week, promising to incorporate new tools to make advertisers more effective.

The Mountain-View, Calif.-based company will launch a new interface to its AdWords platform, an advertising program that allows companies to promote their products and services on Google's search engine.

The changes incorporate “several enhancements for advertisers,” according to Collin Stewart analyst Sandeep Aggarwal, who reviewed the changes at the Search Engine Strategies conference in New York.

Of the new features, Google will now allow advertisers to make more granular changes in their ad campaign compared to the past with in-line editing. Accessing and changing different search campaigns will now be easier to advertisers, Aggarwal told clients, with a new tree-view, and more charts and graphs will deliver better reporting of campaigns.

Google continues to command a lion share of the paid search market.

Out of the first-tier search marketing budgets, the company gets nearly 75 percent share of search budget, followed by Yahoo! about 20 percent share, and Microsoft with about 7 percent, according to Aggarwal.

Print, TV, radio etc are seeing 25% to 30% declining in ad budgets showing that more traditional advertisers are shifting budgets online, a loud and clear message that search continues to be one of the cheapest and most effective way to acquire new customers.