Google Acquires Beat That Quote - What Happens Next?
09th March 2011
News that Google has announced the £37.7m acquisition of UK financial services comparison site Beat That Quote has been greeted by industry speculation as to what the internet search giant will do with its new asset. Google’s recent UK tests in credit card comparison suggests that it may well extend its financial comparison offering into other areas such as car insurance, home insurance, savings accounts and loans.
Backed by Google’s search muscle it is likely that there will be increased competition for existing sites like Confused, Go Compare and Compare the Market. They, along with all of the players in this market will be hoping that they are still able to compete fairly using Google’s dominant paid and natural search facilities in order to market their services to consumers.
With Beat That Quote’s current strategy of primarily building business through third parties rather than direct to consumers, it does not currently rank highly on Google when shoppers search, for example, for car insurance using the top 5 keyword search terms – today it has dropped outside of the top 50 search results for each of these. No doubt other price comparison sites will be keeping an eye on these results over the next few months.
Here at Tiger.co.uk we welcome any development that leads to better deals for shoppers and Google’s apparent entry into the wider field of financial services price comparison could provide shoppers with a new and different type of comparison service. In the same way that Tiger.co.uk has developed its unique Easyfill™ quote form to remove some of the hassle from the quotation process, Google are bound to look at ways of improving the shopping experience. As long as shoppers are still able to benefit from being able to easily access a range of competitive sites then this move may well be good news for consumers.