Google’s search visibility for car insurance comparison has leapt from 0% to 75% in the space of two days since it launched its own rival to the likes of Confused.com.
According to stats from Greenlight, Google’s car insurance comparison service is now visible for at least 500,000 relevant UK searches per month from this point onwards.
This will obviously have competitors in what is a fiercely competitive market worried…
Presumably to avoid losing revenue from the top two PPC ad slots, Google has invented its own just above the organic results:
The Google car insurance listing is closer in style to an organic result than a paid listing, even if it is marked as ‘sponsored’.
Stats from Greenlight’s latest quarterly insurance sector report found that GoCompare.com, Confused.com and MoneySupermarket.com were the three most visible car insurance advertisers achieving a 92%, 83% and 78% share of visibility respectively.
At that time, Google had no presence.
Stats from yesterday show that Google has leapt to 75% visibility and Greenlight predicts that, if Google maintains its current level of integration within search results, it will become the second most visible car insurance comparison provider.
According to Greenlight COO (and Econsultancy guest blogger) Andreas Pouros, it isn’t necessarily a disaster for existing comparison sites:
For the incumbent price comparison sites, Google’s move would have come as no surprise and the next few weeks will be a period of intense data gathering to ascertain how this will impact their businesses in the short, medium and long term.
Anecdotally however, when Google entered the credit card market, it had absolutely zero impact on one of our credit card clients – so it is not a given that Google’s latest move will be a disaster for the existing players as some have prematurely speculated. The market has room for Google too, and it may just mean that everyone has to share it with just one more competitor.