Google Mortgage Comparison
Google Comparison Ad Progam Affects Lead Generation
As expected, Google’s recent launch of their comparison ads program hit the online mortgage space with great impact, usurping a large portion of leads that used to belong to the top ranking companies in this lucrative space.
Google’s new advertising format, which occupies the top ad positions in their search engine results, gives consumers the opportunity to compare rates from multiple mortgage advertisers without having to submit any personal information.
This encroachment into the mortgage lead generation market is forcing some companies to adjust their marketing strategy to compensate for the loss in business. That seems to be the case with Lending Tree’s announcement of a new “consumer decision making platform and customer acquisition channel for businesses across key vertical markets.” Their platform appears to be a counterpunch at Google, claiming an “opportunity to step in where typical search engines fall short”, and saying they are “going beyond a page of blue links”.
Companies in other industries that depend on search engine lead generation are anxiously looking over their shoulder to see if the same fate awaits them. Google has announced another test run for their Comparison Ads program, this time for credit card related searches, which is designed to compare interest rates from a chart of multiple advertisers, without the requirement of users divulging contact information.
The rumor mill is churning out speculation that the travel industry is in line for the next big hit. Considering the size of the online travel market and the potential advertising revenue for Google, lead generation marketers in the travel space need to brace for impact.
Google’s entry into the price comparison market is a blockbuster move with far reaching implications that could benefit consumers, while at the same time siphon off valuable leads from both paid and organic search engine rankings. Time will tell the story of collateral fallout from those unable to adapt to the inevitable change.
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