Google has
overtaken branch-based financial advisers as the primary source for
UK-consumers to seek advice on retail banking services, according
to a report from Greenlight.
The survey from the UK-based
digital media agency reported an increase of 59% in the UK for
searches relating to retail banking products between July and
October on Google.
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Greenlight classified 750 of the
most popular search terms that are typed into Google and then
profiled consumer search behaviour for retail banking-related terms
such as bank accounts, credit cards, debit cards, mortgages, ISA’s,
online banking and loans (see chart below).
Greenlight also identified the
banks, and related service providers, who were best positioned on
page one of Google and thus more visible online.
In addition, Greenlight monitored
paid searches, analysing the advertisements appearing in sponsored
links for the top 120 of the 750 terms, retrieving data daily
throughout October.
Based on the volumes for each
keyword and their ranking on Google, Halifax, part of the Lloyds
Banking Group, was the brand with the most visibility.
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By GlobalDataIt scored 27% and ranked third
overall behind price comparison websites moneysupermarket.com and
moneysavingsexpert.com (see table above).
In November, the Digital
Economy and Structural Change survey by Deutsche Bank market
researchers GfK and Google reported that the internet played a much
bigger role as a source of information than transaction or sales
channels.
More than 90% of all online searches are typed into Google.
