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In most cases, a misleading result from a Google search is harmless, but a case study by a consumer financial information website released Monday shows how those results can cause economic harm to searchers.
In its study, WalletHub did a Google search for “best 0 APR credit cards.” Here’s what it found:
- Trusting the top recommendations from the websites Google ranks on the first page of its search results costs consumers an average of $341.
- Following the biased recommendation from credit card companies on the first page of search results costs consumers an average of $216.
- Following the top search result — a link to Reddit’s Best Options for 0% APR Right Now — costs consumers $568.
- Following the worst option on the first page of search results would cost a consumer $616.
“Google results have gone so far downhill, they’re practically underwater, and it’s costing people a lot of time and money — especially those who mistakenly believe the top results are still the best results,” WalletHub CEO Odysseas Papadimitriou said in a statement.
Broader Impact Beyond Credit Cards
Although the case study has a narrow focus, WalletHub Managing Editor John S. Kiernan contended it’s a microcosm of a much larger issue. Determining the quality of search results can be subjective, so it’s hard to see what Google is getting right and wrong, he explained. “That’s why we chose this particular example, because it’s pretty straightforward.
“But we definitely think that this is an issue that is happening across search results and across the verticals and segments of the market,” he said. “It’s by no means limited to your APR credit cards.”
“This is an example of how Google has let down the consumer,” he added.
Kiernan maintained that there has been a decline in the quality of Google search results for the last two years. “The landmark event that led to this was when Google’s CEO decided to put the head of the ad team in charge of Google Search, also. Previously, there was a kind of church and state separation there,” he explained.
“When they put those two teams together, it seems like the faction that really wants to go about maximizing clicks and ad revenue is blending out of the faction that wants to have the best possible results for consumers,” he added.
Google Responds
“This so-called ‘analysis’ is based on flawed methodologies and recycled claims,” Google spokesperson Davis Thompson said. “Our systems work to connect people with content that is useful and original, from a diverse range of sites across the web, so that they’re able to make informed decisions.”
According to Google, its research shows that its search engine satisfies the overwhelming majority of user needs for people around the world, and it launches thousands of improvements every year to make it even better for people.
It added that for “Your Money or Your Life” queries — where information quality is critically important, like financial queries — it has an even higher bar for showing supporting information from reliable and trustworthy sources.
Search Results Have Lost Value
“From a consumer perspective, Google’s search results seem to have lost value,” said Danny Goodwin, managing editor of Search Engine Land & SMX, a digital marketing and advertising technology publication.
“Users are forced to wade through more ads before even seeing organic results, and too often they still struggle to find the right answer or website.
“Google boasts that searches are increasing — but that may reflect people digging deeper because they can’t find what they need right away,” he added.
There seems to be mixed perceptions about the quality of Google search results, noted Greg Sterling, co-founder of Near Media, a market research firm, in San Francisco. “Many industry insiders perceive a decline in search quality, but that’s not necessarily true of the general public.
“But I do believe that the quality of Google results and the user experience have declined,” he said. “Google is largely focused on maximizing ad revenue, retaining users, and fending off competitors by copying or incorporating features into search.”
Cliff on the Horizon?
Jared Navarre, founder of Keyni Consulting, a business consulting company in Wasilla, Alaska, argued that not only has there been a decline in the quality of Google search results, but a potential sharp cliff for them may be on the horizon.
“There are many metrics outlining that search referrals from Google are falling. “I think the bigger story here is the double-edged sword of Google’s AI initiative and how it’s been implemented into search.”
“Users will often see a consolidated answer to their search query at the top of the page,” he explained. “This alone eliminates the past standard practice of needing to click through a few of the top sites to find what you’re looking for.”
“On top of that,” he continued, “search volume is down globally. AI is rapidly changing how information is searched for, delivered, and interacted with. No one quite knows how this will look in a year’s time, but the Google we once knew may become an afterthought.”
He added that there may be a ray of hope for consumers from the recent antitrust decision against Google. In the Sept. 2 opinion by U.S. District Court Judge Amit Mehta, Google was found to have illegally monopolized online search through exclusive distribution deals.
“[The decision] didn’t block default search placement deals or require any divestment of Chrome, but requiring Google to share search index data with competitors alone could have some small wins for consumers and users,” Navarre said, “but I don’t foresee any fundamental change without dismantling some of the exclusive deals and Google’s deep integration, but it’s a start.”
Google’s Grip on Search Remains Firm
Some other search watchers were less sanguine about the impact of the antitrust decision. “I think it’s probably most likely to make things worse,” WalletHub’s Kiernan said. “I think Google feels like they got off scot-free for the most part.”
“I would imagine they’re feeling a little bit emboldened that they can continue their current practices and even take them to the next level a little bit,” he added.
Search Engine Land’s Goodwin explained that the antitrust ruling has nothing to do with search quality. “It’s about Google’s business practices and market dominance, not how results are ranked,” he said. “The only way Google search results will improve is if the search team makes it happen, or if Google’s AI and machine-learning systems get better at what results users see.”
“The remedies decision, which still may be overturned on appeal, is relatively weak and will do little or nothing to boost competition or force Google to improve results,” added Near Media’s Sterling.
Despite criticism of Google’s search results, it remains the king of internet ferrets — with no challenger in sight.
Habit and ubiquity are two drivers of users’ loyalty to Google, Sterling argued. “Google was the best search engine and, in some ways, may still be,” he said, “but most people continue to use Google out of habit and because it’s everywhere you turn: the iPhone and the most popular browser. People are comfortable and familiar with Google. Change is possible — see ChatGPT — but there’s tremendous inertia around Google usage.”
“Google dominates because it’s the default,” Goodwin asserted. “Its technology and products are deeply integrated into people’s lives, and it’s still ‘good enough’ for the average person. That won’t change unless a competitor delivers a much better experience, as it seems like U.S. regulators will be unable to make it easier for alternatives to compete.”
“Only truly disruptive AI-fueled software or an AI-powered device would be able to do anything more than slowly chip away at Google’s market share,” Keyni’s Navarre added. “I think we are watching that happen, but, ironically, I think Google’s own AI initiatives could end up having as much impact on its own market share versus external competitors. Only time will tell.”
Financial Risks in Google Search Rankings
WalletHub’s study breaks down how much consumers could lose by relying on Google’s top search results for “best 0% APR credit cards.”
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