etail anking October 2010 - GOSSIP - Greenlight

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etail anking October 2010 - GOSSIP - Greenlight Powered By Docstoc
					Issue 7
Contents
 2    Introduction

 3    Total audience size

 4    Keyword breakdown

 5    Natural search: which websites were most visible in October?

 7    Natural search: bank accounts

 8    Natural search: credit and debit cards

 9    Natural search: mortgages

 10   Natural search: loans

 11   Paid search: which advertisers were most visible in October?

 13   Paid search: ad copy analysis

 14   Paid search: bank accounts

 15   Paid search: credit and debit cards

 16   Paid search: mortgages

 17   Paid search: loans

 18   Paid search bidding strategies

 20   Integrated search: which websites/advertisers performed well?

 22   Social media: which brands interacted well?

 23   Improving your website’s position and audience

 26   About Greenlight
Research shows that when people look for personal finance products they go to a

search engine. More often than not they go to Google, the search engine used for

90% of all UK searches. So when people searched on Google in October what did

they type — and who were they most likely to see in their searches and select for

their personal finance requirements?

This report answers those questions by profiling search behaviour in the retail

banking sector. It analyses which banks, building societies and aggregators were

most visible in both natural and paid search results (and thus had the greatest

share of consideration) when UK-based searchers went to Google in October

to look for personal finance products. The report also assesses which brands

interacted well on social media networks.

This report is based on search volume data for October 2010.




                           How the report was created

                           We have used industry data to classify 750 of the most popular search terms used to find providers of bank
                           accounts, credit and debit cards, mortgages and loans. This gives an indication of the size of audience and a
                           profile of how Google users went about their searches in October.

                           For natural search, we analysed the natural search rankings on Google to see which websites and brands
                           were positioned on page one for each term. That way, we were able to build up an aggregate view of the most
                           commonly appearing and prominent websites, as well as the respective size of the audience they were reaching
                           as a result of having that keyword-specific visibility.

                           For paid search, we monitored the advertisers appearing in the sponsored links for the top 120 of the 750 terms
                           analysed. Data was retrieved from Google regularly on a daily basis during October to ensure a fair assessment
                           of the paid search space and to take into account the ad rotation system employed by Google.

                           This data was then collated and league tables of the most visible websites in both natural and paid search were
                           created for the retail banking sector.

                           For social media, we assessed the top 15 brands in natural and paid search, based on the number of followers
                           and the level of interaction on their official Facebook and Twitter accounts.

                           On the following pages you will find market view data for the retail banking industry as a whole, as well as by
                           segment: bank accounts, credit and debit cards, mortgages and loans.
Total audience size (2 million searches — October 2010)

                                                          Since our previous report,
                                                          there has been a significant
                                                          development regarding Google
                                                          AdWords. During September,
                                                          Google rolled out its new AdWords
                                                          keyword tool, which now calculates
                                                          searches purely on Google.co.uk
                                                          searches alone. Previously, Google
                                                          released UK volumes for searches
                                                          on its .co.uk search engine and
                                                          its search partner engines. As
                                                          Google presented data across a
                                                          number of search engines, search
                                                          volumes for many keywords
                                                          were greater than they appeared
                                                          in September and October.


                                                          As a result, there were 2 million
                                                          Google searches in October for
                                                          retail banking-related keywords,
                                                          which was a 59% increase since
                                                          our last report (July 2010),
                                                          when 4.9 million searches
                                                          were performed.


                                                          Searches for loans keywords
                                                          were the most popular,
                                                          accounting for a third of all
                                                          searches for retail banking.
Keyword breakdown

                    The term ‘mortgage calculator’
                    was searched for 135,000 times in
                    October, which accounted for 7%
                    of all retail banking-related searches.


                    Due to the alteration in the Google
                    AdWords keyword tool, search
                    volumes for all the top terms have
                    decreased since August.


                    Recent research found that one in
                    seven consumers obtained loans
                    to meet the costs of last year’s
                    festivities.* A number of the most
                    popular keywords in our report
                    were loans-related, indicating that
                    many consumers have browsed for
                    the best deals online.

                    *Source: Consumer Intelligence,
                    November 2010


                    Searches for the keyword
                    ‘mortgage calculator’ peaked in
                    January and we expect to see a
                    similar rise at the beginning of
                    2011, as consumers will reassess
                    their finances for the new year.
Which sites were most visible in October?

                                            Since our July sector report, there
                                            has been a notable difference in
                                            our league rankings due to the
                                            change in the Google AdWords
                                            search volume calculations.
                                            This is because the allocation
                                            of percentage share of voice
                                            is directly linked to the search
                                            volume attained for keywords.


                                            MoneySupermarket achieved
                                            67% visibility in October;
                                            however, it ranked at position
                                            one for 232 of the 750 keywords
                                            analysed, having previously
                                            ranked in the same position for
                                            260 terms.


                                            MoneySavingExpert ranked at
                                            position one for fewer terms
                                            (81) but featured high on Google
                                            for high volume driving terms,
                                            including both ‘loans’ and ‘credit
                                            cards’ at position six.


                                            Halifax, the best performing direct
                                            provider, ranked at position one
                                            for 14 of the keywords analysed
                                            and featured at position five for
                                            the term ‘mortgage calculator’.
                                            However, since July, its visibility
                                            decreased by 9% and it was
                                            replaced by MoneySavingExpert
                                            in second place.
Information websites such as
Wikipedia, ThisisMoney and the
BBC attained a notable share
of voice due to relevant retail
banking content and credibility
through links.


MoneyExpert and Nationwide lost
8% and 4% visibility respectively,
which saw both sites drop down
our league rankings.


By contrast, whilst many websites
saw natural search visibility
decrease, Santander’s share of
voice increased by 4% and it
moved from position 18 to 11 in
our league table.
Natural search: bank accounts

                                The term ‘ISA’ was searched for
                                27,100 times in October 2010,
                                which accounted for 6% of bank
                                account-related searches.


                                MoneySupermarket attained 69%
                                share of voice through ranking
                                at position one for 111 keywords,
                                such as the term ‘savings
                                accounts’, which was searched for
                                22,200 times in October.


                                MoneySavingExpert attained
                                65% visibility through ranking
                                at position one for 44 terms,
                                including the keyword ‘cash ISA’,
                                but it achieved lower visibility for
                                other high volume driving terms.


                                In terms of visibility, there was a
                                significant gap between the top
                                two websites and other banking
                                sites; although Halifax remained
                                in third place, it lost 25% share
                                of voice. In addition, Barclays
                                saw its visibility decrease by 11%
                                and therefore it was replaced by
                                ThisisMoney in fourth position.
Natural search: credit and debit cards

                                         The keywords ‘credit cards’
                                         and ‘credit card’ were searched
                                         for 60,500 and 22,200 times
                                         in October respectively, which
                                         cumulatively accounted for over a
                                         quarter (26%) of all searches for
                                         credit and debit cards.


                                         MoneySupermarket attained a
                                         dominant 80% share of voice (an
                                         increase of 24%) through ranking
                                         at position one for 51 keywords,
                                         including the terms: ‘credit cards’
                                         and ‘credit card’.


                                         MoneySavingExpert ranked at
                                         position one for just 19 terms but
                                         its visibility increased by 10%;
                                         therefore, it moved up from sixth
                                         position to second.


                                         Fool achieved 30% share of
                                         voice and ranked in fifth place,
                                         having not featured in our top
                                         20 websites in July. Conversely,
                                         BarclayCard lost 34% visibility,
                                         which saw it drop from second
                                         position to eighth place.
Natural search: mortgages

                            The term ‘mortgage calculator’
                            was searched for 135,000
                            times, accounting for 24% of
                            mortgage-related searches
                            in October.


                            MoneySupermarket was the
                            most visible website, achieving
                            66% share of voice through
                            ranking at position one for 36
                            keywords analysed, including the
                            high volume terms: ‘mortgages’,
                            ‘mortgage’ and ‘mortgage rates’.


                            Halifax did not rank at position one
                            for any of the keywords analysed
                            yet it featured at position five
                            for the most searched for term:
                            ‘mortgage calculator’.


                            YourMortgage lost 18% share of
                            voice since July and it dropped
                            from sixth position to position 17.


                            By contrast, Santander increased
                            its visibility by 13% and therefore
                            it moved up from position 11 to
                            third place.
Natural search: loans keywords

                                 The term ‘loans’ was searched
                                 for 246,000 times in October,
                                 which accounted for 17% of
                                 loans-related searches.


                                 Consistent with other segments
                                 in this report, MoneySupermarket
                                 achieved a notable share of
                                 voice (62%) through ranking at
                                 position one for 59 keywords,
                                 including the most searched for
                                 term: ‘loans’.


                                 By contrast, MoneySavingExpert
                                 ranked at position one for just
                                 two of the keywords analysed,
                                 but consistently featured on page
                                 one of Google for the high volume
                                 driving terms.


                                 Loan-Arrangers saw a 1%
                                 increase in visibility and it
                                 ascended from eighth position
                                 to third place. Conversely,
                                 MoneyExpert lost 18% share of
                                 voice and thus it fell from second
                                 place to position 18.
Which advertisers were most visible in October?

                                                  MoneySupermarket was the most
                                                  visible advertiser, achieving 58%
                                                  share of voice. However, it lost 9%
                                                  visibility, bidding on 106 of the 120
                                                  keywords analysed (previously
                                                  107) and at a lower average ad
                                                  position of five, having bid at
                                                  position four in July.


                                                  FirstDirect bid on just 42 of the
                                                  keywords analysed, at an average
                                                  ad position of five, which accounts
                                                  for its 24% visibility.


                                                  Brands, such as Which4U and
                                                  TotallyMoney, utilised different
                                                  domains to advertise separate
                                                  product offerings.
RBS was a newcomer to our top
60 advertisers, ranking in ninth
position. It achieved 15% share
of voice through bidding on
65 keywords, at an average ad
position of seven.


BeatThatQuote saw its paid search
visibility increase by 8% and
therefore it ascended our rankings
from position 16 to eighth place.


Conversely, INGDirect lost 8%
share of voice, which saw it drop
from fourth to position 14 in our
league table.
Paid search: ad copy analysis




                                Achieving 11% share of voice, RBS
                                featured the most visible individual
                                ad creative in October, which
                                advertised its ‘Quick and easy to
                                use’ mortgage calculators.


                                Although MoneySupermarket
                                was the most visible advertiser,
                                its most visible ad creative
                                ranked in fourth position in our
                                ad creative league table. The
                                brand’s campaign included 223
                                unique creatives (compared
                                to WelcomeLoansUK’s six)
                                across which, it is likely, visibility
                                was dispersed.


                                Of the 15 top ad creatives, eight
                                were mortgage-related (of
                                which four focused on mortgage
                                calculators), five advertised loans
                                and one promoted credit cards.
Paid search: bank accounts

                             KnowYourMoney attained 61%
                             visibility through bidding on
                             21 keywords, at an average ad
                             position of two. Since July, its share
                             of voice increased by 32% and it
                             replaced MoneySupermarket at
                             the top of our league table.


                             MoneySupermarket bid on more
                             keywords (29) and appeared more
                             often in the paid search space but
                             it bid at an average ad position of
                             six, thus achieving 54% visibility.


                             Co-operativeBank saw its share
                             of voice increase by 11%, which
                             saw it move from ninth position to
                             sixth. It bid on 18 of the keywords
                             analysed, at an average ad
                             position of four.


                             By contrast, INGDirect lost 20%
                             visibility, which saw it fall from
                             third place to position 11.


                             Attaining 27% visibility,
                             Which-Savings-Account-4U
                             featured the most visible individual
                             ad creative. It stated specific
                             interest rates and featured listed
                             savings accounts to compare on
                             its website.
Paid search: credit and debit cards

                                      CompareandSave was the most
                                      visible advertiser, attaining 90%
                                      share of voice through bidding on
                                      29 of the keywords analysed, at
                                      an average ad position of three.


                                      VirginMoney bid on fewer
                                      keywords (20), less often and at
                                      a lower average ad position of
                                      four. Although its share of voice
                                      increased by 10%, it remained in
                                      second place in our league table.


                                      BarclayCard saw its visibility
                                      increase by 43% and therefore
                                      it moved up from position 18 to
                                      third place.


                                      BadCreditCreditCards-123, by
                                      comparison, did not feature
                                      in our league table, having
                                      ranked in fifth position in July,
                                      when it achieved 39% share
                                      of voice.


                                      Achieving 48% visibility,
                                      TescoFinance displayed the
                                      most visible ad creative, which
                                      advertised a specific APR and its
                                      unique feature, ‘collect points’, to
                                      incentivise the consumer to click.
Paid search: mortgages

                         HSBC achieved 61% visibility
                         through bidding on all 30 keywords,
                         at an average ad position of four.
                         Although its visibility decreased
                         by 3% since July, it moved up from
                         second place to the top of our
                         league table.


                         FirstDirect bid on fewer keywords
                         (27) and it bid at a lower average
                         ad position of six, achieving 57%
                         share of voice.


                         RBS achieved 35% share of voice
                         and ranked in fifth position,
                         having not featured in our top
                         20 advertisers in July. NatWest
                         saw its visibility increase by 36%,
                         hence it moved up from position
                         14 to fourth.


                         MoneySupermarket, however,
                         lost 29% visibility and therefore it
                         dropped to third position, having
                         been the most visible advertiser
                         in July.


                         Achieving 31% visibility, RBS
                         featured the most visible individual
                         ad creative. Interestingly, only one
                         of the top ad creatives, displayed
                         by NatWest, promoted a specific
                         mortgage interest rate.
Paid search: loans

                     MoneySupermarket attained
                     68% visibility for loans-related
                     keywords through bidding on 23
                     of the 30 keywords analysed, at
                     an average ad position of three.


                     By comparison, SainsburysBank
                     bid on fewer keywords (20) and
                     at a lower average ad position of
                     five, achieving 46% visibility.


                     TescoFinance saw a 7% increase
                     in visibility, ascending from ninth
                     position to third place.


                     Conversely, YesLoansUK lost
                     13% share of voice, which saw
                     it fall from third position to fifth.
                     PayDayUK did not feature in
                     our top 20 advertisers, having
                     previously featured in fifth place,
                     when it achieved 24% share
                     of voice.


                     Attaining 29% visibility,
                     WelcomeLoansUK displayed the
                     most visible individual ad creative,
                     which advertised its range of
                     loans available and displayed a
                     call-to-action: ‘Apply now’.
   Paid search bidding strategies




   Day parting strategy




                                                                                                                                         Consumer search behaviour


                           20%                                                                                                           RBS

                                                                                                                                         BeatThatQuote

                                                                                                                                         FirstDirect
Percentage of visibility




                           15%                                                                                                           SainsburysBank

                                                                                                                                         CompareandSave

                                                                                                                                         TescoFinance
                           10%
                                                                                                                                         HSBC

                                                                                                                                         uSwitch

                                                                                                                                         NatWest
                           5%
                                 Mon 11th      Tue 12th      Wed 13th   Thu 14th      Fri 15th      Sat 16th        Sun 17th             MoneySupermarket




                             Many advertisers appeared to                 SainsburysBank’s paid search                         uSwitch appeared to attain a low
                             achieve relatively consistent                visibility best reflected the height of              share of voice on Monday yet
                             visibility throughout the week and           search activity at the beginning of                  achieved high visibility during the
                             therefore underestimated consumer            the week.                                            weekend, which contradicted the
                             search activity on Monday, Tuesday                                                                consumer search trend.
                             and Wednesday.
Hourly parting strategy




                                                                                                                                           Consumer search behaviour


                           25%
                                                                                                                                           RBS

                                                                                                                                           BeatThatQuote
                           20%
                                                                                                                                           FirstDirect
Percentage of visibility




                                                                                                                                           CompareandSave
                           15%

                                                                                                                                           uSwitch

                           10%                                                                                                             TescoFinance

                                                                                                                                           HSBC
                           5%
                                                                                                                                           SainsburysBank

                                                                                                                                           NatWest
                           0%
                                 Midnight - 4am    4am - 8am        8am - 12pm    12pm - 4pm      4pm - 8pm       8pm - Midnight           MoneySupermarket




                            Many advertisers, such as FirstDirect            BeatThatQuote appeared to                        RBS appeared to achieve high
                            and TescoFinance, appeared to                    recognise search activity during the             visibility in the morning in particular
                            achieve high visibility overnight,               ‘lunchtime’ and the ‘evening’ slot               yet this share of voice decreased
                            which decreased slightly throughout              by achieving high visibility between             throughout the day, which contrasted
                            the day, thus not reflecting the                 12pm and midnight.                               the consumer search trend.
                            consumer search trend.
Which websites/advertisers performed well?
Natural search visibility




                                                 Strong natural                              Strong integrated
                                                search visibility                             search visibility




                                                Poor integrated                                 Strong paid
                                                search visibility                             search visibility




                                                                    Paid search visibility




                            MoneySupermarket was the only                  MoneySavingExpert was close to           Not one advertiser attained strong
                            brand to achieve strong visibility             achieving strong visibility in natural   visibility in the paid search space as
                            in integrated search as it attained            search; however, it lacked visibility    the top brands focused paid search
                            considerable share of voice in both            in the paid search space.                campaigns on specific segments of
                            natural and paid search.                                                                the retail banking sector.
MoneySupermarket ranked at the
top of our integrated search league
table due to its high exposure
across both mediums. Although
its visibility in natural search
increased by 2%, its share of voice
in paid search decreased by 9%.


Halifax was the best performing
direct provider; however,
in both natural and paid
search it lost visibility (by 9%
and 3% respectively).


uSwitch ascended from position
27 to fifth in our league table as
its share of voice in natural search
rose by 4% and its paid search
visibility increased by 14%.


Conversely, LloydsTSB dropped
from fifth position to tenth
due to a 4% and 2% loss of
visibility in natural and paid
search respectively.
Which brands interacted well?

                                Consistent with our previous
                                report, informational sites
                                and aggregators had more
                                established Facebook and Twitter
                                accounts, compared to direct
                                service providers.


                                MoneySupermarket was the most
                                followed retail banking brand,
                                with a combined following of over
                                20,000 on Facebook and Twitter.


                                uSwitch had the most active
                                accounts, cumulatively producing
                                238 ‘posts’ and ‘tweets’ in October.
                                Content included latest financial
                                news as well as up-to-date deals
                                on banking products.


                                A number of direct providers do
                                not have official UK Facebook
                                or Twitter accounts. In addition,
                                the high street banks NatWest,
                                RBS and Halifax received
                                negative commentary on
                                their customer care services
                                on unofficial Facebook and
                                Twitter pages.


                                By contrast, LloydsTSB utilised
                                its Twitter account to not only
                                generate news and product
                                releases but also acted as a
                                customer service contact by
                                directly answering consumer
                                queries and complaints.
Natural search: improve your website's position

                                                  Comprehensive ranking is based
                                                  on search engines being able to
                                                  access relevant content across
                                                  your website.


                                                  Links play a significant role in
                                                  helping sites break through the
                                                  clutter and ascend rankings.


                                                  The best-performing sites have
                                                  all invested heavily in their
                                                  linking efforts.
Paid search: improve your visibility and efficiency

                                                      Consider seasonal trends and
                                                      mini campaigns, along with your
                                                      everyday keywords. Short spurts
                                                      of activity can help to drive up
                                                      your ROI.


                                                      Ad copy should be treated as
                                                      a sales opportunity — take
                                                      advantage by incorporating and
                                                      testing as many ad copy versions
                                                      as possible.


                                                      Google’s quality score is now
                                                      illustrated in the AdWords
                                                      system, allowing you to see
                                                      exactly what score you have.
Social media: keep tabs on your fans, friends and followers

                                                              Specific targeting is extremely
                                                              important in the success and
                                                              cost effectiveness of your social
                                                              media campaign.


                                                              The best performing social
                                                              media campaigns utilise a variety
                                                              of formats and platforms and
                                                              their content is available to
                                                              share, to engage and interest
                                                              their audience.


                                                              Engagement is key to building
                                                              social media optimisation, so
                                                              make sure that you connect and
                                                              build a relationship with those
                                                              speaking to you.
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