Sounds Good: Financial Firms Need Organic Search Strategies

March 26, 2021

ATM Marketplace draws our attention to a recent study from SEO firm Terakeet in, “Google Study Shows Companies Need to Tap Into Organic Search Strategies to Drive Greater Traffic.” Hmm, sounds like Google’s algorithm may be at odds with its goal of selling paid-search ads. We learn:

“The report, Google Market Share Report for Personal Finance, focuses on three primary areas of personal finance: consumer banking, credit cards and personal investing, along with nine underlying market sectors to reveal that non-bank websites are dominating Google across all sectors. For example, non-banks hold 90% of the market share for cash back credit cards and for rewards credit cards, with NerdWallet owning the large percentage of both categories at 19.62% and 24.92% respectively.”

The study observes that, though organic search drive more than five times the ROI than paid search in the financial market, most banks put little value on organic search. NerdWallet, of course, is a financial information and comparison site. It is a good illustration of the sort of site that is edging banks out of search results. The write-up continues:

“The competitive SEO landscape has evolved and encompasses more than just traditional offline competitors, including publishers, aggregators, comparison sites, government sites and others.
Many of the websites have long-form content clearly organized by topic areas. For example, Bankrate’s long-form content has helped it capture more than 29% of the organic search market share for keywords examined. The websites offer a range of free, interactive online tools and calculators (i.e. financial literacy scoring tools, free credit score tools, free credit reports, and free credit monitoring) that are not only helpful to site visitors, but offer backlinks to other websites to increase SEO visibility.”

Terakeet used its own proprietary search-engine market-share analysis tool, Carina, to crunch the data. Founded in 2001, the private SEO company is headquartered in Syracuse, New York.

Cynthia Murrell, March 26, 2021


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