Google Trends is a data goldmine.
Google trends might just be the most powerful tool that your business is not using.
If you are trying to determine how well your brand or competitors brand is performing, considering launching a new product or trying to determine the lifespan stage of your product ,than google trends is a data goldmine.
Google Trends is a tool by Google that allows users to see how popular specific keywords or subjects are over a period.
Trends reports data by region, by what category and the type of web search used, such as YouTube, news, shopping etc. Users of Google Trends can enter a term, a keyword or a subject into the search box for a single term or compare terms and see how often the word is used and where it is used.
In the example I have shown below we decided to compare LinkedIn V Twitter, within Australia and for the past twelve months.
Key points gained:
- LinkedIn competes strongly in Australia for market presence against Twitter.
- LinkedIn is most popular in NSW.
- People did not search linkedIn on Christmas day (large drop on graph).
- People are very interested that Microsoft has purchased LinkedIn.
- The NT is very well represented for both searches.
So, to summarize why should you be using Google Trends?
1.Check out your brands market share: This is a great way to see how you compare to other brands in your industry over time. You can break the data down by viewing the annual trends and interest in each brand over time. You can also view regional interest for the industry.
2.Monitor your brand: Monitoring your brand is similar to examining your market share. When you monitor your brand, you should be looking out for active ways that you can improve your market share and positively increase your brand presence.
3.Understand your competitors: You can learn a lot from your competitor’s graphs. If they are doing well, you can do research to learn more about how their peaks are created. If they are doing poorly, you can learn what to avoid and understand how to adapt your own strategy to minimize your own lulls.
4.Pay attention to industry shifts: If you find that your industry is showing a steady decline on Google Trends, you should investigate further. Google Trends is not necessarily a reflection of the health of a business or industry but it can demonstrate a certain amount of vitality.
This is only scratching the surface on the possible uses for Google Trends. It’s available to everyone, it’s free and might just be the best business tool you discover this year.
Thanks for reading,