Google announced today that they are starting to test comparison ads in AdWords beginning with the mortgage industry.
According to the Google team, the comparison ads will improve the user experience by “letting users specify exactly what they are looking for and helping them quickly compare relevant offers side by side.”
Images via AdWords BlogSpot
This will be an exciting development for businesses, as the new comparison ads offer:
1) Wide range of application – Comparison ads can be applied across a wider range of verticals (e.g – travel, finance, online shopping) and will enable searchers to save time across each vertical.
2) Improvement in CTR – Comparison ads should have a positive effect on the ad click through rates as searchers are more likely to find the rate/price they are looking for.
3) Lowers Search Time – As Google mentions in their post, the comparison ads are seen as a way of reducing the amount of time searchers spend in trying to find the mortgage rate they are looking for.
4) Higher quality of leads – With this new ad format, searchers will go through a more rigorous qualifying process before they see rates/prices from different advertisers.
Keen to see when they will roll this test out in Australia and across a wider range of verticals.