Just be happy you are not marketing home equity loans.
According to an interesting study by The Financial Brand blog, the cost to advertise in conjunction with Google search terms is more expensive for home equity-related searches compared to auto finance-related queries. Auto loan searches, such as “auto loans,” cost $0.0404 per thousand searches, compared to $0.2855 per thousand searches of the term “HELOC.”
The term “car loan” falls even farther down the pricing list of lending-related search terms, ranking 16th at $0.0128 per thousand searches. By comparison, “student loans” is more expensive at $0.0149 per thousand.
It is interesting to look at Google Adword prices, because you get a keen sense for direct-to-consumer marketing costs, as well as a cursory understanding of which search keywords lending marketers value most or perform the best.
In case you were wondering, “loan” is at the bottom of the pricing list for lending-related search terms. Apparently, such a generic term doesn’t convert into apps for lenders.
