By Paul Morris
Last week Google extended its comparison ads program, blended in Google financial comparison tools, took a pinch of learning’s from its BeatThatQuote purchase and mashed it all together in to Google advisor.
The US only tool lets you compare rates for mortgages, credit cards, CDs, or checking and savings accounts. Google is CURRENTLY not being paid for credit cards, CDs, and personal banking listings but is being paid for mortgage lender leads.
Google is staying on song with its mantra behind the purchase of wishing to organise the worlds data whilst at the same time clearly expanding its involvement/knowledge of the price comparison market.
…Currently unknown however some predictions from yours truly:
Google is trying to take over the world and after moving into other major market sectors e.g. travel via its ITA purchase means it will one day own the world and then make us pay through the nose to use it. Google will pretend to treat everyone equally however secretly flounce the SERPS by inflating the rankings of their own services and banning any competitor who even brushed past a paid link.
Undoubtedly this service will end up being integrated with comparison ads and/or Google communication ad extensions in some way.
Many people are still working out why Google bought BeatThatQuote and we might now be finding out why. i.e. they bought sector knowledge and business relationships to turn Google Advisor in to a real money spinner.
Could Google believe that the price comparison market needs to be simplified with clearer messaging, fewer clicks to conversion and ultimately less email marketing for the consumer? Adding fuel to the flames is Google’s purchase of Sparkbuy that happened today; a price comparison shopping site focused mainly on laptops. Google immediately closed the site making it look like a comparison site talent acquisition exercise.
It makes sense* for Google advisor to add additional products e.g. insurance, loans, utilities, etc and start charging advertisers for all leads.
It also makes sense* for Google to expand this product into the UK market after they test the product on our American cousins.
*Sense Check: If Google do move into the UK market and extend their product offering they need to be careful and ensure they do not bite the hand(s) that feed as the likes of Money Supermarket, Go Compare, Compare the Market and Confused will not be happy. Each spend £10’s million per year on PPC and have spent £10’s millions on brand/ offline advertising making them household names hence they are in powerful positions.
I was at a conference a few days ago and asked a senior Google representative about their purchase of the ITA and whether Google would bite the carrier hand(s) that feed – Mr Google was clear in his denial of ever wanting to damage their advertiser relationships.
Paul Morris summary; Google is not stupid and will tread extremely carefully with any Google Advisor developments that on the one hand will diversify business interests but on the other will damage their PPC cash cow. Watch this space.