Customer acquisition in the online finance industry is changing. In saturated market conditions, where competition intensity has created high CPCs on generics, the battle for new customer acquisitions is becoming increasingly competitive as advertisers look to contest market share on branded search terms.
Financial products are often linked to high customer lifetime value (CLV). In combination with limited
generic keyword diversity, it means that finance brands maintain some of the highest costs per acquisition
(CPAs) of any major online vertical. In search, this manifests additionally in high CPC values.
A new Adthena report, The Search Landscape: Finance, outlines some of the key challenges that brands are currently facing in the sector. To ensure optimal search visibility, brands will need to monitor and track their competitive search visibility
and solve such challenges.
The financial search landscape…
Adthena’s analysis of the finance industry found that a large majority of these search terms relate to the four largest categories within financial search: Banking, Credit Cards, Insurance, and Investing.
In these four categories, the limited range of available keywords has become a defining characteristic. And as an industry where consumers often research and compare products in order to get the best available rates on a financial product, comparative generic search terms, such as ‘best credit cards’ or ‘best fixed rate mortgage’, are fiercely contested.
Is competitive brand bidding affecting financial search?
The report also explores the challenge of brand protection, which often manifests as the number of competitors bidding on brand search terms. The following visualization included in the report shows the extent of competitive brand bidders on search terms for a typical US financial operator. Again the size of the circles is representative of the number of competitors bidding on a term, showing that for this operator, brand terms can experience as much competitive bidding as core generic search terms.
Select a section to drill down into a segment, or use the legend to filter by search term type.
Solving challenges in financial search?
To be successful in finance, brands need to map typical challenges to potential solutions. This report outlines potential scenarios and the solutions which help Adthena clients and users to meet the challenges of search. You can read the full report via the link below.