For any brand targeting their prospects, it is important to understand how their brand is found or rather, how their potential customers search for brands within their industry. In several of our research studies it was found that consumers rely heavily on third party and aggregator sites when making a brand choice within an industry.
Our research studies found that even though most consumers have a brand in mind before they begin their research, most prefer to use a search engine when researching products or services to then take them through to brand or aggregator sites.
So, how can you use search to better your chance of being a preferred brand within an industry?
- Aim to meet the broader needs of consumers by tailoring the search creative to the search keywords. Consider paid search for keywords where third party sites are getting featured snippet listings to ensure your brand stays in the mindset.
- Tailor search ad creative to the search keyword entered like Budget Direct and Australian Super.
- Endeavor to attain a high position on search engines. As seen in the heat map below, most clicks are for the top listings.
Why are consumers going from search through to aggregator sites?
- The ease of comparing options and seeing a range of companies in one place are the main reasons consumers want to use an aggregator site.
- Almost half of consumers incorrectly think that all companies are shown on aggregator sites and they’ll get the best deals there. This is a risk for brands, if you are not present on the aggregator site – you may lose a chance to join the consumers’ consideration set.
When looking at specific industries, the graphs below show the impact that aggregator sites have on final preferences when it comes to consumers choosing a preferred brand. For example in superannuation, overall 20% of consumers preferred AustralianSuper. However, when we just look at those who visited Canstar as part of their research, 30% of those consumers went on to prefer AustralianSuper.
Interestingly, when we look at energy the two biggest players, AGL and Origin, get a far lower final preference rate from those who used an aggregator site.
Whilst we acknowledge that aggregator sites are not always the preferred strategy for some brands, there is no doubt that third party sites such as search and aggregators have an impact on which brands consumers ultimately choose as their preferred provider, and there is ample opportunity for brands to take advantage of the popularity of third party websites and increase the likelihood of being chosen as a final preference.
To summarise our findings from our research studies, here are a few key insights and opportunities for brands:
|During the consumers' discovery journey, third party sites often gain the most visits||- Ensure your brand has a presence on third party sites relevant to your industry|
|Third party sites are attracting visits through search engine results pages (SERPs)||- Tailor search ad creative to key words to ensure more relevance against the third party offering
- Consider paid search for some specific targeted search terms to ensure your brand stays top of mind
|Consumer behaviour and display of information on third party sites will affect how competitive your product looks against other brands||- Consider tailored products for promotion on third party sites
- Look at ways to gain more exposure on third party sites
|Many consumers arriving at your website will already have completed a lot of research at a third party site - they will not want to 'start again'||- Offer multiple pathways to products based on the different stages of decision making|
To learn more on what you, as a brand can do, see what we revealed during our webinar on this topic or contact us today: