Dragon’s Den is getting a little weary. The Dragon’s are becoming more self-satisfied with every series, and their attitude to the pitchers can sometimes be nothing short of rude. But recently a father and son came to present their idea for designed wetsuits. It is a good idea, and there is a market, but when questioned, they did not know what size that market is! So it made me think. Do you know the size of your market, and how can Google help?
Think You Could Get Money from the Dragons? Google Can Help.
How Google Can Help You Define Your Audience & Figures!
Well, here is an idea of the interest in new wetsuits in the UK. It took me a few minutes, and if they had had this at their fingertips they would have had an answer.
Every month there are around 60,000 searches (not all the search terms are included on the image) on Google in the UK. Over 12 months that is around 600,000 opportunities for the new wetsuits to be placed in front of people who are interested in buying. They are not searching simply because they love wetsuits.
So Google can add more to your business than digital marketing. Your digital marketing strategy can inform your business strategy. With a little help, you can use search data to determine how many people are looking for a product or service that you sell. This can help you have a better insight to what products you should be supporting with your sales and marketing.
It is also possible to look into potential overseas markets. Using the right tools to analyse Google, you can see what is happening in search terms in the US, Germany or Australia. The world is literally your Google oyster.
The next stage is to make sure that you are in front of the potential customer when they are searching. The new business selling wetsuits would not be able to get in front of all the people searching for their product, but they could put together a search campaign for a number of relevant keywords and target the campaign to a specific location within the UK, and as their sales increased, they could expand the campaign to other surf crazy locations.
Digital is an overused word. Companies are being advised to adopt digital transformation, but there are opportunities to use the digital tools already out there to inform your business decisions, determine the market size, check out prices and plan for the future of your business.
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