The finance comparison market has been a very lucrative and successful one over the past 5 years and it seems that Google has finally decided that it wants a piece of the pie! The screenshot below is taken from a Google UK search for secured loan (interestingly it only worked in IE and not in Firefox) and shows the Google Merchant Search function appearing above all PPC listings with drop down functionality allowing the user to select their desired loan amount before they even leave the SERP. Once an option is selected the user is taken to the Google Merchant page with their options shown based on the original selection, much like with all the other comparison sites in the market.
At the moment it appears this is just in Beta on the secured loan keyword but surely if successful this will be rolled out onto all other financial products. I couldn’t see where Google was getting these results from, and so I am not even sure if the providers know they are being compared (although I assume they are aware) and there is not indication of how a company would get its products listed, although this could just be a closed beta for now.
This could have massive implications for the comparison market, above and beyond the fact that there is another competitor in the market. In the first instance they have knocked moneysupermarket off the top PPC listing which will impact their volume, I am assuming they are not paying themselves a premium CPC for this position! They are also allowing themselves much more prominence on the page than a standard listing. 49 characters for a title and drop down functionality make it stand out on the page. Users could also see this as an easier option than clicking through a link and going through the whole process on a separate engine.
On top of this, if the beta is successful, what is to stop them adding in a variable to quality score which penalises other comparison sites? In one fell swoop generating themselves both more revenue from the sites willing to pay more and reducing the prominence of these sites and so driving more volume through their own tool. I may be a cynic but I can see it happening. Moneysupermarket spend a lot of money with Google but if they see a bigger opportunity in doing it themselves then they will surely pursue this avenue instead.
Is this the end of independent comparison sites? No, I doubt it, but if/when the beta is expanded it could be a big dent in their revenues and they will have to think of other ways to differentiate themselves. Some insurers (direct line to name one) are already boycotting the comparison sites and if Google is to offer this service for free, which they may well do in the name of stickiness and keeping people within the Google realm, more could follow suit.
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