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Google Goes Big For Financial Comparison Shopping, Launches “Google Advisor”
Google has rolled up its tools for consumers seeking side-by-side comparisons of financial products, launching “Google Advisor,” a one-stop-shop for consumers looking for mortgages, credit cards, checking and savings accounts, and certificates of deposit. For marketers, it’s an opportunity to gather leads, and Advisor seems to be aimed at stepping up the volume of those leads.
Advisor has its own destination site, at google.com/advisor, which lays out the various financial products that can be compared:
An ad linking to the tool is also being aggressively integrated at the top of the main search results when Google thinks users are searching for financial products.
Users can search and filter by parameters like credit rating, location, fees, initial deposit requirement, etc. to find the appropriate product. Results aggregate advertiser-provided information via a feed from a pricing engine like Mortech, Optimal Blue, OpenClose, and PriceMyLoan. That information, for advertisers, is augmented by offers they manage via AdWords.
Marketers pay on a per-lead basis, whether it be a call, a callback request, or an e-mail contact request. Ranking is based on bid price, as well as quality score. Currently, Google is only offering Comparison Ads to “a limited number of advertisers,” but says it hopes to open them up to more.
With the launch of Advisor, Google is competing even more aggressively with players like Zillow, LendingTree, Mint.com and LowerMyBills.com.