Why AI search could cut off your leads

Not long ago, a storefront sign was the most important marketing channel a retailer had. If you didn't have one, customers didn't know you existed. Today, for mortgage companies, that sign has been replaced by something else entirely: search. But with borrowers now turning to ChatGPT and other AI tools instead of Google, even ranking on the first page may not mean you'll be found.

For 20+ years, Search Engine Optimization has ruled marketers' minds as they build websites, develop social media content, and identify online media opportunities.  From the good old days of backlinking to the copywriters' mantra, "Content is King."  Google's 1st page is the envy of every company.  It is the gold standard.  

A survey found 77% of US respondents use ChatGPT for searches, and 25% say it's now their first choice. While that doesn't seem that daunting, in some reports, 58% of US searches end without a click. So what does that mean?  People are searching and relying on Large Language Models, like ChatGPT, to provide the answer. They trust that answer, and they don't engage further. People do not want to look through a bunch of search results or click through websites. They want the answer.  So, when someone is looking for information about mortgages, and you're not listed as a result, they will never know you exist.  

Companies do not know what Large Language Models are saying about them. They do not know if they will show up at all when people ask pertinent questions about the products they sell. Just because you rank on the 1st page of Google, doesn't mean ChatGPT will cite your content as the source for the answer. So, what do businesses need to do to prepare for the new medium? Here are three recommendations to prepare.

• Identify the questions – In every buying journey, there are questions that signal where someone is in the process.  In short, there is Awareness, Consideration, and decision-making.  

Example of awareness: "How do I get a mortgage?".   Example of consideration: "How long does it take to get a mortgage?"
Example of decision-making: "Which mortgage company has the best rates?"
Many SEO tools can help you find which questions are being asked and where your company ranks in the results. LLMs are conversational, and while a prompt is not the same as a Google search, the questions can mirror each other.  

• Track your web traffic – If you do not have Google Analytics, you need to get it set up. You want to filter out your organic traffic and track its trends. Most companies are already seeing a decline in organic traffic and leads. This is usually the most cost-effective and highest converting lead in the business. There is also a way to track if you are receiving any referral traffic from LLMs.   

• Produce relevant content – If you have not worked on Search Engine Optimization for your website, you can still turn it around if you are willing to start now.  AI writing apps have saturated the internet with content. So having a lot of content on your website isn't going to cut it anymore. Even if you have meta-tagged, titled, and had your AI bot do all the SEO things you are supposed to do. The content is either relevant or it is not. Relevant content would be something so good that it is shared, read often, backlinked, and answers the questions identified in the first recommendation.  Quality over quantity. 
  

If I go out of town to visit a friend, and ask them where I should eat, they may ask me, "What do you feel like eating?" I will always say – "A steak."  My friend is not going to give me a list of nine steakhouses and seven reviews to read.  He is going to tell me one or two places he would recommend. 
While there may be 100 steakhouses where he lives, I will drive past all their storefront signs until I reach the steakhouse my friend suggested. That is what ChatGPT is going to do to commoditized businesses. If you aren't a part of the answer, you may not exist.