Customers looking for credit card information depend on internet searches to evaluate options, collect information, and make informed choices.
In this blog, we’ll discuss the most current search trends in the world of credit cards that we’ve uncovered in our report. We also discuss data that can utilized by brand marketers to advance in the marketplace.
The reliance on search engines provides a wealth of opportunities for companies in the sector of credit cards. creating a solid internet presence and optimizing their content to be indexed by search engines, businesses can effectively communicate with prospective customers throughout their journey with credit cards.
Furthermore, having high visibility in search results increases the credit of the brand and increases trust among customers.
The Importance of Search Trend
Before we dive into the detailed report we should understand the significance of search trends in the world of credit cards.
The market for credit cards is expected to soon cross the milestone of 100 million. The majority of customers start their credit card journey via online searches. This provides an opportunity for businesses to comprehend the changes in search behavior to adapt their strategies for digital marketing effectively.
Through analyzing search volume as well as trends in keywords and the preferences of consumers Brands can strategically position themselves to draw and keep customers.
Credit Card Search Trend and Insights the Report
The Credit Card Search Trends Report provides valuable insight into the present landscape in the card business. The report examines more than 19800 search terms associated with credit cards and categorizes them into non-brand and brand searches to give knowledge of changing consumer behavior.
Brand vs Non-Brand Searches
In the study, the total number of searches for credit card-related keywords saw a substantial rise of 14.62 percent in 2023 compared to the prior year. This growth indicates a rising demand for credit card-related products and services.
We also discovered two distinct types of searches including brand and non-brand.
Brand-specific searches comprised 79.80 percent of total searches, demonstrating the strength of well-established players on the market. The top banks such as HDFC Bank, and ICICI Bank SBI Card command significant search volume, demonstrating their impressive image among consumers.
However, searches related to brands also experienced a dramatic increase of 37.44 percent, which suggests an increasing interest in seeking out choices. People are more open to investigating various brands, especially if they offer more service and credit card options.
Vernacular Searches
Vernacular searches, which are conducted in regional languages, are becoming popular within the credit card sector. The report highlights an impressive rise in the volume of searches for vernacular phrases, with a notable rise.
The 2022 number of searches for brand-related vernacular terms was 8.03K which grew by 9.76K in 2023, which is the growth of 21.54 percent. For non-brand vernacular terms, the volume of searches jumped by 29.81K in 2023. This was an increase of 41.28 percent.
This trend highlights that it’s important to consider catering to the preferences of regional languages to reach a wider audience and increase engagement. Since information that is in regional languages aids in building trust and credibility for the brand.
“Near-Me” Searches
Another important trend that observed searches for credit cards was the rise in “Near-Me” searches. People are using location-based search to locate credit card companies and services, with searches like “SBI credit card near me” and “axis bank credit card near me” seeing a significant growth in search volume.
This search trend is a reflection of consumers’ need to be able to access their credit cards quickly and easily accessing credit card services and services that are suited to their specific place of residence.
Top Brands and Co-brands on Google
Financial institutions and banks with a strong reputation are the top search engine result pages (SERPs) for credit card-related questions. Brands like HDFC Bank, ICICI Bank, SBI Card, and Axis Bank command the highest volume of voices (SOV) in Google and other search engines, demonstrating their impressive online presence and visibility.
Related: Google Search Optimization: How to Improve Your Ranking
They compete fiercely with other brands by utilizing strategic digital marketing strategies to grab the attention of users and ensure top positions in search results.
Top Cities
We’ve seen the changes in searches in cities between 2022 and 2023. The largest cities were the ones with more searches, and there was a 6.66 percent rise between 96.87 lakhs and 103.32 lakhs within the top 6 cities. The cities had the highest number of searches making up 64.71 percent of the total requests in 2023. The smaller cities saw a huge growth in search volume, between 7.98 lakh to 21.50 lakh.
Certain cities such as Bengaluru have seen more growth where searches increased by 12.20 percent. The number of searches across every city increased by 14.62 percent. This data reveals the search patterns of different cities during the two years.
Most Downloaded Apps
Mobile applications play a significant part in world credit cards providing users with access, convenience, and additional functions to manage their accounts.
In the study applications such as “MyCards – HDFC Bank,” “Axis Bank,” and “SBI Card” have witnessed an increase in downloads reflecting the preference of customers for mobile-centric banking services.
These apps give users easy access to the credit card service, making transactions and keeping track of transactions.
Most Targeted Keywords
We also identified a few important keywords with high value that are targeted by companies within the credit card industry. These keywords are vital for companies because they represent the type of information people search for on the internet when it comes to credit cards. When they know what keywords are most popular for their respective keywords, brands can adapt the strategies they employ to suit the needs and interests of their intended consumers.
For instance if “Credit Card Apply” is an often searched term brands can focus on enhancing their application process, and promote it to draw more potential applicants. In the same way, if “Best Credit Card In India” is a well-known keyword, companies can utilize it to emphasize the advantages and benefits associated with their credit cards prospective customers.
In essence, using these keywords helps brands increase their visibility, draw more targeted customers to their websites, and, ultimately, increase the likelihood of turning searches into customers.
Opportunities for Brands and Marketers
Armed with these research data, companies that offer credit cards may benefit from a unique opportunity to improve their marketing strategies online and increase their competitive advantage. By taking advantage of recent trends in the field of credit cards companies can customize their message, improve its online presence, and communicate with prospective customers more efficiently.
The growing tendency in “Near-Me” searches offers brands the opportunity to expand their offerings and offer customized solutions based on the location of their customers.
In light of the increase in the number of searches for credit card applications, companies should concentrate on creating mobile-friendly applications that provide seamless experiences for managing credit accounts using mobile phones.
The investment in mobile app development may provide convenience, accessibility, as well as more functionality, addressing the preferences of customers who want to manage their credit cards while on the move.
The incorporation of vernacular searches as well as using the most popular keywords associated with credit cards could further enhance the reach of a brand and increase engagement, particularly among those who prefer to search in their languages or with specific terms that are that are related to credit card service.
These are merely tiny snippets from our extensive report. For more detailed insights into consumer behavior and search patterns download the report now and incorporate the information into an online marketing plan. If you require assistance in making use of these insights in your marketing strategy. We’ll be glad to assist you.
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