When your starting a new project its important to do your research and due diligence to understand whats going on out in the big wide world of the internet. Luckily Google has a great tool for visualising search trends.
Google Insight allows you to look at how many people are searching for a particular phrase over time. What this tool allows you to do is gain some great additional information about the market, which in turn gives you great insider knowledge to use in your business plan.
- Seasonal ups and downs in particular niches become really clear
- Which of your competitors is growing and which is shrinking
- How different brands compare over time
- Is a brand or market segment you’re looking at, growing or falling.
Example 1: Supporting the good online retailers.
Two wheel brands have adopted very different strategies with online retailers marketing.
Dotz provide great support to high quality online retailers. They see the benefits to the Dotz brand by working closely with retailers, who are then able to present their products in the best light, adding further value to the brand. Nice work from the distributor.
Wolfrace continue to support online retailers that over-discount and show the products in a poor light. The upshot is that the poor representation and over-discounting has devalued the brand. Wolfrace are now trying in-house retailing and should use the extra control this will offer them to begin rebuilding their brand.
This graph shows growth in interest in the brands.
Example 2: Seasonal trends in the DIY sector
Its incredible to see how closely Homebase and B&Q track over the years
Do you have any good examples for you market? click here to comment online