Google Aims to Better Qualify Mortgage Leads
New feature brings lead generation to the search experience, will eventually be rolled out to other products.
Google has launched an ad type designed to gather information about a searcher’s interests and better qualify leads for advertisers. Called Comparison Ads, the unit initially will be served only against queries for mortgage and refinancing. Other categories will follow.
In a blog post yesterday, Google said the new ad type will help it gather more information from users conducting generic queries. It shared the example of a search for “mortgage,” which might turn up this ad:
Google’s Comparison Ad prompts individuals typing in that word to choose the type of loan they want and compare various rates. Their response would determine the offers on the landing page — scroll down for example. Once there, they can also further refine the results by providing further details such as income and home value.
For consumers, Google argues the Comparison Ads product will eliminate deceptive mortgage offers and enhance privacy. “There are no teaser rates, or bait and switch offers,” the company said. “Comparison Ads won’t send advertisers any user information, including anonymized phone numbers, unless the user explicitly requests more information about an advertiser’s offer.”
Comparison Ads will at first be restricted to a “small” number of searchers in mostly Southern and Western states, including Wyoming, Colorado, California, Louisiana, and North Carolina. A limited group of mortgage advertisers will participate at launch.
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