The Importance of Search Trends

Let’s examine why search trends are important to the credit card business before getting into the report’s details.

The $100 million milestone will shortly be reached by the credit card market. Furthermore, the vast majority of customers start their credit card journey online with searches. Businesses can take advantage of this chance to understand how search behaviors are changing and adjust their digital marketing tactics accordingly.

Through the examination of search volumes, keyword trends, and consumer preferences, brands may strategically position themselves to draw in and keep consumers.

Credit Card Search Trends Insights from the Report

We provide insightful information on the state of the credit card market today with our Credit Card Search Trends Report. The study examines more than 19,800 credit card-related terms, classifying them as brand or non-brand inquiries to offer a thorough grasp of changing consumer trends.

Brand vs Non-Brand Searches

 

As to the data, there was a notable surge of 14.62% in the total search volume for keywords connected to credit cards in 2023 as opposed to the previous year. This increase suggests that consumers are becoming more interested in credit card services and products.

 

Additionally, we distinguished between two types of search queries: non-brand and brand.

79.80% of all queries were brand-specific, demonstrating the dominance of well-known companies in the industry. Prominent financial institutions like HDFC Bank, ICICI Bank, and SBI Card have substantial search traffic, demonstrating their robust brand awareness among customers.

On the other hand, non-brand searches also saw a notable increase of 37.44%, suggesting a change in the direction of alternate option exploration. Consumers are willing to try new companies if they offer better credit card selections and services.

Vernacular Searches

The credit card sector is seeing an increase in the use of regional language vernacular searches. According to the research, search volumes for popular vernacular terms have increased significantly.

 

Brand vernacular keywords saw an increase in search volume from 8.03K in 2022 to 9.76K in 2023, a 21.54% increase. Regarding non-brand vernacular terms, there was a 41.28% increase in search volume, reaching 29.81K in 2023.

This pattern emphasizes how crucial it is to accommodate local language preferences in order to connect with a larger audience and foster participation. Because information in local languages contributes to the brand’s authenticity and development of trust.

“Near-Me” Searches

The growing frequency of “Near-Me” searches was another noteworthy trend in credit card searches. Consumers are using location-based search engines to locate credit card companies; search volumes for terms like “sbi credit card near me” and “axis bank credit card near me” have significantly increased.

The demand of consumers for quick and easy access to credit card services and products that are specific to their area is reflected in this search trend.

Top Brands and Co-brands on Google

When someone searches for credit cards, top banks and financial institutions are prominently shown on search engine results pages (SERPs). Strong online presence and visibility are demonstrated by brands with the highest share of voice (SOV) on Google, including HDFC Bank, ICICI Bank, SBI Card, and Axis Bank.

With the goal of grabbing consumers’ attention and ranking highly on search engines, these firms engage in fierce competition through clever digital marketing initiatives.

Please download our credit card search trends report to get the complete list of brands.

Top Cities

We have seen the shift in city searches from 2022 to 2023. With a 6.66% increase from 96.87 lakh to 103.32 lakh in the top 6 cities, searches were more common in larger cities. In 2023, 64.71% of all searches were made in these cities. Search volume increased significantly in smaller cities, from 7.98 lakh to 21.50 lakh.

However, searches increased by 12.20% in some places, such as Bengaluru. In all cities combined, there was a 14.62% increase in the overall quantity of searches. The information reveals how, over the course of two years, search patterns varied throughout cities.

Most Downloaded Apps

In the credit card business, mobile applications are essential since they provide consumers with extra functionality, accessibility, and ease when managing their accounts.

The survey claims that downloads of apps like “MyCards – HDFC Bank,” “Axis Bank,” and “SBI Card” have increased significantly, indicating that customers prefer mobile-focused banking options.

These applications offer consumers a smooth mobile experience for paying bills, accessing credit card services, and keeping track of transactions.

Most Targeted Keywords

Additionally, we found a number of high-value phrases that credit card companies frequently target. Because these keywords represent what consumers are looking for when they search for credit cards online, they are crucial for companies. Brands can better align their marketing efforts with the interests and requirements of their target audience by knowing which keywords are in demand. 

For instance, if the term “Credit Card Apply” is often searched, brands should concentrate on streamlining their application procedure and publicizing it to draw in more candidates. Similar to this, marketers can utilize the popularity of the search term “Best Credit Card In India” to draw attention to the features and advantages of their credit cards among prospective consumers.

By utilizing these keywords, brands may essentially raise their profile, draw in more targeted visitors to their website, and eventually raise the likelihood that users will become customers.

Opportunities for Brands and Marketers 

Equipped with these search insights, credit card companies can seize a distinct chance to maximize their digital marketing endeavors and secure a competitive advantage. Brands may more effectively communicate with potential customers, personalize their messaging, and improve their online presence by utilizing current trends in the credit card business.

– The growing popularity of “Near-Me” searches presents a chance for firms to personalize their services and cater to specific geographic areas.

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Brands should concentrate on creating user-friendly mobile applications in light of the rise in searches for credit card apps in order to offer a seamless credit card account management experience on mobile devices.

– Investing in mobile app development can satisfy the needs of users who would rather manage their credit cards while on the go by providing ease, accessibility, and more functionality.

– A brand’s reach and engagement can be further increased by incorporating vernacular searches and focusing on top credit card-related keywords, particularly among consumers who prefer to search in their native tongues or with terms specifically relevant to credit card services.

These are only a few excerpts from our extensive report. Download the report to get comprehensive consumer insights and search behavior data that you can utilize in your digital marketing plan.

If you need assistance incorporating these data into your marketing campaigns, get in touch with us. We would be glad to assist you.