Sunday, January 23, 2011

How Google Trends Can Reveal Search Patterns in Your Market

Many companies are unaware of Google Trends. Google trend is a free, online data engine that enables you to get an immediate picture of your markets needs at particular points in the year. We see Google Trends as a valuable way for any business to get a better idea of their markets search activity across a year.

How does it work?
Google records and logs every single search requested each day: hundreds of thousands of search terms and enquiries. From this substantial database, Google can create and track graphs based on the specific searches for particular keywords. Visit google to open up the tool. Like a regular Google search, you can type in keywords to compare data or look for your particular industry. You can search globally, or pinpoint a specific region or period (accurate up to the last 30 days).

For example, we made an Australian regional search for tax agents, and the results were obvious. At the time of this article the charts displayed an annual increase in searches during the June-August period (end of Financial Year). This means that there was a significantly higher search frequency for tax agents during this period. A Tax Agent who conducted Google activity in that period, and raised their daily limit within Google, would have benefited due to an increased capacity to capture impressions and clicks. At particular points on a graph, Google will refer to pertinent news stories that related to your selected keyword phrase. This can help you better analyse the data by showing you any news stories or events that were happening at that time.

For example, unexpected changes such as a crash in the stock market or a surprise increase in vehicle taxation can impact the data. The results during this period would then appear to run against a proven trend. This link to news items is very valuable when making decisions based on results and understanding this information.

What Should I do with the Data?
You can use these results to better launch a product or service or adjust your online search and advertising activity. You can even use these to help identify when you should run offline activities like direct mail campaigns.

Use Google trends to better place your advertising during periods of proven interest, making your dollars work better and more economically for you, by increasing and decreasing your spends accordingly.

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