Tuesday, December 9, 2014

Using Google Search as an Economic Indicator



Can Google Search be used as an indicator for how my product will sell?



Because of the work I do   I often speak with business owners and marketing managers with the same challenge digitally......

"I want to get my business 'out there' but where do I begin with digital marketing?

As with every marketing medium, you should define your market before you use the platform.

Ask yourself:
- Who is your target market (demographic, region, etc)
- How are you going to reach them?  (Social Media, Online Search, Display, Blogging, Google Plus,     Facebook, Twitter, Instagram, LinkedIn, YouTube, Pinterest,  or multiple channels, etc)

Lets take Online Search as the target market.  Most individuals in their buying process will do a Google Search for your business category or service.  I often will give the business owners I work with a report of search traffic for their category and city.  Below is an example of the amount of people looking for an oral surgeon in Geneva, IL

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As you can see the amount of people who search for an oral surgeon in Geneva in October of 2014 about 200 people, and about 40 from a mobile device.  (important to know when you build your website)

Traffic from Google, Bing, and Yahoo is a strong indicator to see what your product/service interest is in your local area.  I would use this tool for the following:

1.  See if my product or service has market interest
2.  See if that interest is increasing or decreasing
3.  See if certain city's have more searches for my product / service than others.
4.  Determine if a new product or service is worth carrying or selling.
5.  Determine if opening a new location in that area can sustain itself.
6.  Using their search traffic tools to find the market potential to see if you If you sell products online and do not have a retail location, feel free to change the location settings to reflect the market share.

If you need help with gathering the data or understanding your market, feel free to call me at 630 387 9492, or email me here, You are always welcome to connect with me via  Linkedin Profile or  Google Plus.