Paid search may benefit financial sector

Marketers in the financial sector may benefit from paid search campaign according to a recent report from Compete, Inc. According to the report, search query volume for some financial terms saw great increases from August to September 2007.

by Kristina Knight

Researchers found that the increase rate for the term "mutual fund" went from 117% to 125% during the reporting period of August through September. The term "cd rates" also showed an increase to reach 8%, however the term "stock(s)" actually decreased by 15%.

Though these aren't stellar numbers, the fact that more consumers continue to place search queries to find financial information is a good trend for financial marketers. The numbers, however, aren't perfect. Though search queries did increase, applicants actually dropped by several percentage points.

Overall brokerage prospects grew by 26% but applicants fell by 17%. After brokerage information, other financial terms didn't fare as well.

Search queries about home ownership fell from August to September.

The term "mortgage rates" showed no growth in search queries. The terms "mortgage calculator" fell 24% and the term "home equity loan" fell 40%.

Though the growth rates for financial terms were by no means ground-breaking, the results do indicate that paid search campaigns could help financial marketers gain a strong return on investment. By investigating in paid search and using popular keyword phrases, financial marketers have a better chance at finding in-market consumers ready to make a change.