SearchGPT is becoming a popular search engine. It is powered by artificial intelligence (AI) similar to OpenAI’s ChatGPT. (OpenAI developed SearchGPT.) The tool is completely changing how people interact with search engines to access information. SearchGPT uses AI to provide summary responses compiled from various online sources. SearchGPT is currently accessible to everyone in areas where ChatGPT is available.

With SearchGPT becoming so ubiquitous and revolutionizing the online search universe, we wonder why more financial firms aren’t addressing it head-on in their search engine optimization (SEO) and content marketing strategies.

This article provides a complete overview of SearchGPT, along with information on how it could impact financial services businesses and their promotional efforts.

What is SearchGPT and How Does It Work?

SearchGPT is an AI-powered search engine that combines aspects of standard search engines like Google and Bing with the advanced conversational capabilities of large language models. It answers questions about finance and broader topics built on information gathered from across the web. 

Rather than providing a list of links for searchers to visit, like traditional search engines, SearchGPT delivers answers, summaries, and insights directly. These are based on its understanding of context and the user’s intent (for example, seeking general finance-related information or actually researching providers).

OpenAI hasn’t yet revealed how SearchGPT works. However, most experts believe it uses something similar to retrieval augmented generation (RAG), which is used by other AI-powered search engines like Google AI Overviews and Perplexity. RAG reduces hallucinations – the crazy, mixed-up, jumbled, or just-plain-wrong responses – by integrating information from a database to improve accuracy.

The process employed by SearchGPT allows it to generate clear, brief, and accurate responses, linking back to the source web content.

The key features of SearchGPT are:

• Conversational interface. People interact with SearchGPT using highly natural dialogue. It’s like speaking with a human rather than a machine, a big departure from the flat experience searchers have with Google and other search engines.
• Direct answers. Instead of a list of links, SearchGPT serves up direct information related to search queries.
• Citations panel. A sidebar identifies the sources used to generate responses, including links to the original content.
• Follow-ups. People using SearchGPT can ask follow-up questions to explore financial topics more deeply, resulting in a highly interactive search experience. For instance, they may start by asking about the basics of a type of investing and then dig deeper until they fully understand the solution and find the ideal provider for them.

SearchGPT Versus Google AI Overviews (AIOs)

SearchGPT goes beyond Google AI Overviews.

Google’s AIO relies primarily on traditional search for its summaries. It simply adds a response generated by a large language model (LLM) at the top of the page. Think of it as an improvement upon Google’s rich snippet results rather than something completely new, which the SearchGPT back- and front-end experiences are.

From financial firm marketing perspective, two key factors stand out between the options: 

1. Citations. Google’s AIO offers less transparent citations, identified by an icon for references, while SearchGPT typically links directly from the publication’s name, which could result in higher click-through rates and brand awareness.
2. Conversational search. Google’s AIO is much less conversational than SearchGPT. SearchGPT allows users to go beyond an initial response by expanding queries using the original web content, creating a more interactive dialogue-like experience similar to ChatGPT’s. You’re not limited to asking a single question about a financial topic. You can go deeper and get into a dialogue with SearchGPT

Financial firms may be able to find opportunities with SearchGPT to develop content strategies that serve a wider array of conversational queries. The goal is to create content that encourages SearchGPT users to explore it in greater detail. For instance, if you want to get exposure for your retirement planning services on SearchGPT, start by developing foundational material about the topic. Then move on to advanced and niche content that could be served up as part of answers to deeper questions users could ask if they want to explore the topic more completely.

Bottom line: Financial service businesses should not view SearchGPT as something to fear. Instead, they must welcome it because it could open new doors to connecting with investors and other financial professionals in broader and deeper ways beyond traditional Google SERPs and AIO.

SearchGPT: The Implications and Opportunities for Financial Firms

Here are things asset and wealth managers must pay attention to during these changing times for online search.

1. Search will be more conversational 

SearchGPT’s natural language processing capabilities will result in nuanced, conversation-like interactions. It can understand the context and meaning behind the words used in queries, which means keyword research is likely to change significantly. You can expect users to ask SearchGPT a wider range of questions. This will allow businesses to create highly targeted financial content that answers broader and deeper queries.

Instead of merely researching keywords, marketers must understand the topics and questions SearchGPT users are asking — and why they are asking them — and develop content that addresses their needs. For instance, are they seeking general information about a form of investing, or do they want to learn how to find the best provider of the solution? Getting inside the searcher’s head and understanding the “why” behind their motivations will make your content more likely to be included in SearchGPT’s answer compilations.

Content should be engaging, written naturally, easy to understand, and designed to meet user intent. Optimizing it to meet algorithms’ requirements is not enough. The next generation of content development will be all about creating pieces that resonate with people on a deep level.

2. Incorporate rich media into your content strategy

Producing content in different media has been crucial for years. It’s what people want and expect. And it’s only going to become more critical. Financial firms — and there are many of them —  that are not creating content in different media types will lose out to competitors that do.  That’s because SearchGPT is able to reference, understand, and describe various types of media beyond text. Integrating videos, infographics, and interactive elements into your content will expand its value for SearchGPT. 

Be aware: Although descriptive text will likely become less necessary for artificial intelligence to understand images, videos, and other non-written content over time, it’s still critical for your media to be clearly labeled and contextually enriched. This will help ensure your materials are inclusive and accessible to all end users and AI models.

3. Focus on earned media

SearchGPT seems to prioritize high-authority publications, which means digital public relations and thought leadership should remain priorities. In fact, SearchGPT seems to link out to prominent content creators more than Google does, which could increase opportunities to boost awareness and traffic. 

Financial service businesses should consider partnering with high-visibility content distributors like respected institutions, finance bloggers, and podcasters that could be sourced by SearchGPT so their brands are more likely to be mentioned in its responses. Even though it will not include a link to a brand’s website, people could be interested in exploring more and visiting the site.

Working with a public relations expert in financial services like Sondhelm Partners is also critical. Our professionals can get your firm media mentions in prominent publications like Barrons that could be included in SearchGPT, increasing awareness of your brand.

In summary, building relationships with authoritative websites could improve your chances of being included in valuable AI-generated responses.

4. High-quality content must be a priority

Like other search engines, SearchGPT prioritizes relevant, top-quality, up-to-date information. This makes it necessary to produce the best material you can consistently. It will help maintain audience engagement, send the right signals to SearchGPT, and increase your chances of being referenced by it. Focusing on quality will provide a competitive edge for your brand, especially if others in your financial services space cannot keep up.

Regular updates that are accurate, original, and compelling are key to staying relevant in the AI-driven search landscape, regardless of the platform.  

5. Reconsider the metrics you track

Asset and wealth managers must move beyond monitoring clicks and other metrics from standard search engine results pages to tracking brand visibility through prompts and brand mentions within SearchGPT and other AI-based responses in different search engines. This will become the new reality in an artificial-intelligence-powered search environment. AI-driven search will make traditional metrics like click-through rates (CTRs) and page rankings less relevant in the months and years ahead. 

Financial companies should focus on new metrics, such as the accuracy of AI-generated answers that reference their content, engagement levels, and the impact of AI on brand visibility. Focusing on metrics related to these things will provide better insights into how your content is performing in SearchGPT and other AI-powered sources.

SearchGPT: The Final Word for Financial Firms

SearchGPT is relatively new, but it is clearly a revolution in how search happens now and in the years ahead. It’s clear that the future of search will be much more conversational and shift away from links on search engine results pages.

Despite the revolutionary change, it’s necessary to continue to maintain standard SEO best practices, like producing top-quality content and getting mentioned in top financial-industry publications. Then add on new tactics, like focusing more on search motivation and tracking new metrics. Doing these things will help ensure your brand is visible in SearchGPT.

If asset and wealth managers plan for SearchGPT correctly, it could become a major driver of traffic to websites and new assets under management.

Need help upgrading your search engine optimization and content strategies to be ready for the artificial-intelligence revolution? Schedule time with Dan Sondhelm and the experts at Sondhelm Partners to discuss how you can feel prepared for whatever happens in the months and years ahead.