How to use Google Trends for Market Research
The move toward conducting market research is frequently regarded as one of the most significant actions that can be performed by any company. The ability of this activity to assist in identifying consumer wants and determining the most effective manner to satisfy those demands is the primary reason for the significance that it is held by the vast majority of enterprises. Even though the method is intended to reduce the costs of production, the typical instruments that are supposed to guide the method may be rather pricey, which can be a challenge for startups, sole proprietorships, and other types of small enterprises.
We are fortunate to have access to other alternative tools that are very helpful for businesses of any size and can be adapted to meet the specific requirements of individual organisations. Google Trends is one example of such a tool. It is a tool that can be accessed online and was developed to assist in providing feedback on the things that people search for the most. This feedback is then used to generate strategies, awareness, advertisements, and other similar types of content in an effort to attract online users in the most effective manner possible.
To begin, we would like to assist you in comprehending this Google trending tool and everything that it implies on your end. After that, we would walk you through the various ways that this incredible “assistant” might quicken the process of your market research.
What exactly is Google Trends, though?
If we are going to examine in depth descriptions of how to conduct a market study in this day and age, it is difficult to avoid mentioning Google Trends at some point. And because of this, it is pretty interesting to note that a large number of people do not have a complete idea of what the tool is truly all about.
One of the most important problems that we would like to resolve is that Google Keyword Planner and Google Trends should never be confused with one another. From afar, the functions of these two web tools can appear to be comparable to one another. When examined in greater detail, the distinction is as obvious as black and white paper. While Google Keyword planner makes use of the ‘crude’ volume of search data that is offered, Google Trends is a little bit pickier in its approach. It examines how common a search query is in comparison to other queries. To put it another way, Trends only shows information that is pertinent to the search keywords that have been used the most during a given period of time. As a result, you will have the capacity to zero in on particular tendencies and make decisions that are appropriate.
Since we now have some background knowledge on the topic, the next step for us is to investigate how we might include Google Trends into the market research that we conduct for our company.
What are the things that are popular this year?
Because of the “targeted” nature of its operation, Trends can be of assistance in determining seasonal trends in a variety of fields, such as the fashion industry, essay writing, the beauty industry, the health industry, politics, and other related fields. If you are able to recognise current trends, it will be much simpler for you to produce material, and this will be especially true if you run a blog or are compensated for writing. You will appeal to a bigger audience, which will result in more traffic to the website of your company.
A excellent illustration of this would be using Trends to find out which types of essays are most frequently described as challenging by students near the conclusion of the academic year. If you own a business that writes essays, the information that you collect would be very helpful in streamlining your service to better fulfil the requirements of your customers. You would be able to determine if you should concentrate on writing lighter content (such as book reviews and descriptions) or more weighty and academic material (thesis, dissertation). The process of determining it is simplified by using Google Trends.
Get your plans into overdrive!
The capacity of this application to assist you in formulating a game plan for the future is definitely one of its most appealing features. As a person who creates material, this is really important. You need to have a sense of the schedule for the current year, in addition to significant events that you would wish to cover — this is your “content calendar.” It is much simpler to plan ahead for the production of content for events that are happening in Toronto, New York, or any other location when you have your content calendar laid out.
Identifying Consumer Demand
The owners of businesses absolutely adore this! Businesses that use Trends have the added advantage of being able to predict the requirements of their customers and fulfil those requirements even before the requirements are uttered by the customers. You are guided to make business decisions that would create positive outcomes for you by helping you comprehend the precise things that are in popular demand and providing you with an understanding of those things.
Let’s explore an example. Both S and T, two different businesses that make microwaves, sell 2-in-1 microwaves, which can both grill and cook meals. Company T offers superior quality, but Company S provides more convenient amenities. Let’s imagine that Company T wants to get rid of its existing stock, so it decides to hold sales. When using Trends, as the Marketing manager of firm S, you would focus your attention on the exact characteristics of your competitor’s product that are generating customer buzz. Using those pieces of information, you might decide to manufacture some “limited offer” microwaves that include all of those characteristics but are priced even lower than the standard models. It is possible to apply the same example to a wide range of the services that are provided. As was discussed earlier in the piece, having a concept of what is now of the utmost importance to your customers can help lead your decision-making for more earnings and a more satisfying experience for your customers.
Steal ideas for your company from your competitors.
The very last thing that we would look into is the possibility of leveraging Trends to “tap” ideas from other companies. Accessing a database of phrases that are similar to the one you are searching for can help you learn about concepts that may already be in use by other businesses. This can be done by searching for your own key term and looking at the database of terms that are related to it. You now have access to additional data that may be utilised to enhance the effectiveness of the business plans and strategies you have already developed. It is always to one’s advantage to be ahead of one’s competitors, regardless of the location of that competition (Canada, UK, US, etc.)
The Google Trends tool is one that is both quite intriguing and very productive. If you have the right knowledge about what it is capable of doing, you have the potential to put your company light years ahead of the competition and become a focal point for the requirements of customers.