Google is set to launch its Merchant Search application. Whilst they are trialling this for secured loans, it will definitely get some attention if they release this to the wider population. Financial services like loans, credit cards and insurance are highly competitive. This will make some people very scared indeed.
http://www.google.co.uk/help/merchantsearchbeta/faq.html
http://www.google.co.uk/intl/en/help/merchantsearchbeta/review.html
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Another form of advertising and it helps to rejuvenate their failed attempt to get Pay Per Call off the ground in the UK. Could also make Google a fair amount of money as they laugh at the providers tripping over themselves trying to hit the top spot.
The only problem might come when customers believe that Google is providing a comparison or advice service of some sort. So far, they’ve clearly stated that the companies are paying to be listed. But I’m sure most customers would ignore the small print and rely on the Google brand to tell them what’s what. Same problem with any comparison/best buy table though – not a Google specific thing.
Interesting to see Ocean Finance in there
One of Google’s most notorious spammers – LOL!
It will be interesting to see if it becomes popular. I also agree that it looks like a comparison service and most people will see it as an unbiased google review. I for one never read the small print.
I think that ocean finance have made there way back in to the SERPs. I have seen them for a few searches in the last couple of weeks.
One thing that might also come into play is the impact this has on that top placement Adwords area. I wonder could this impact click through in that area, as the drop-down and submit button change the whole look IMO. To me it no longer blends so well with the organic results – one of the key reasons Google has it there – which might actually make the penny drop for a few more searchers that this area is in some way different (i.e. not organic).
Very risky for Google, and it’s going to be interesting to see how it fares.
@Richard
I do agree that there are users who do not differentiate between paid and organic listings, but this number is growing ever smaller.
As you say, this new feature does not blend so well, meaning it stands out. I would therefore expect it to acquire stronger click yields, especially since it would seem to be endorsed or powered by Google.
My two main concerns – this is going to hit the aggregators rather than the product providers. Secondly, who is to say where and how this feature will sit moving forwards? Why not stick it at the top of organic results in place of “Latest News” which does not work properly anyway.
Tron
Following some extensive whiteboard projections, statistics, econometrics and not to mention doodling, I am pleased to announce that whilst it looks like this might well work for Secured Loans, I don’t think it will work for all areas.
For instance, using [Credit Cards] as an example…
Supposing Google could secure higher than industry standard rates – which let’s face it, they could – such an execution would result in a drop in revenue of approximately 10.27%. This translates to (£56.13) every 100 PPC clicks.
The above is also based on the fact that big G can engineer higher than average lead yields on their secondary/comparison page.
All figures and projections can be found on display in your local planning office at the bottom of a locked filing cabinet stuck in a disused lavatory with a sign on the door saying ‘Beware of the Leopard’.
@Tron
LMAO!!!
Mad isn’t it! This scam by Google is going to kill the agregators who pay Google’s bills… From what I understand the journey is;
1. Customer fills in min app form
2. Google forwards basic details to Lender
3. Lender calls Google
4. Google try to put through to customer
5. If can’t connect, lender has to retry 24 hrs later
6. Customer speaks to Google, not interested in speaking to lender, lender wasted time.
Apparently lenders are having to call a 09 number, up to £1.50 per minute. Google benefit from this?
Loans now, Insurance next apparently, can’t tell you how I know………