Search engine giant Google has introduced new ad formats, which are likely to increase its revenue by strengthening consumer response rates. Google’s new formats include comparison ads that list multiple offers and prices on one page, ad site links which let advertisers add up to four links to standard text ads have also been introduced to make it easier for consumers to find specific pages, and content on an online marketers website.
Chief executive of a search engine marketer said: “As an advertiser, I’d love all these formats because it makes it more likely people will click on my ad. Less sophisticated advertisers won’t fully understand the features and know how to pull the levers they need to take advantage of the new formats.”
Some industry experts believe that the new formats will force advertisers to do extra work to optimise their ads. Though Google argue these new ads will improve their users’ experiences and generate more revenue per search. The ads will be accompanied by images, videos and maps on its search results page, which have been critisised by some who say this could overwhelm consumers who are used to Google’s clean, search optimised results page.
The search engine wants to diversify its revenue, with the vast majority coming from text based search ads. This is fair as text based ads have perfomed well despite the economic downturn, and Google’s stock has jumped more than 89 per cent this year.
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