Narrow down your product idea list:
In our previous blog I spoke about using Google trends to narrow down your product list. In part 2, I will be discussing how to use Google Adwords and what its benefits are.
Keep in mind that you will have to start looking for a market niche at this stage. A market niche means a specific group in the population who are identified as potential clients. A niche is determined by looking at why potential consumers would be willing to buy a product: because of their needs, the products features, the price range, production quality or obtainability.
Google Adwords will assist you to start identifying a product niche and determine whether there is a market for your product. Let’s have a look at how to use Google Adwords. Navigate to Google Adwords.
If you haven’t signed up before, you will have to sign up (for free) to use the Google Adwords website. This website is designed for placing an ad in Google (and paying for it), but you can use the keyword planner tool that we will be working with in this blog, for free. This tool will help you see whether there is a demand for your product and how high the potential competition is in the area you want to sell it. To have a look, go to the tools tab after signing up/logging in and select ‘Keyword Planner’ in the drop down list displayed.
On the page that opens up, you will see the following screen:
If you have used Google Adwords before, a forth option would appear that says “Get traffic estimates for a list of keywords”, but this only applies for Adword advertisers. For now we will be using the three tools mentioned listed on the screen.
Starting with “Search for new keywords using a phrase, website or category”:
The results can only be as accurate as the information you put in, so remember this when inserting your information and selecting certain options.
To briefly explain the form:
“Your product or service”: Here you need to enter keywords for your product, but try to be more descriptive of your product, for example don’t just use oil, use coconut oil hair instead, something that is relevant to your niche market (the niche market you are thinking of pursuing). I would recommend entering 2-4 keywords at least, for more accurate results.
“Your landing page”: This is mostly used by Adwords users. We will get back to this option in an upcoming blog on how to research your competition.
“Your product category”: This option gives you access to Google’s internal database of keywords for every industry. You will have to play around with this option to find different keywords that you might have missed before (this can be done by using abbreviations and other names for your industry).
“Targeting”: Here you need to select the country, area and language that you want to target (target market area). Depending on your product, choose other targeting options that will enhance your results for example: selecting a time frame of the last year or six months.
Another option to consider is filtering out keywords that don’t meet a set of criteria. For example, if you weren’t interested in keywords with less than 500 monthly searches, enter the criteria in the option provided.
These results can help you determine your market size locally, nationally or internationally. By analysing the results you can start seeing trends for your product.
Note: in the results page, below the graph, you can also see other popular search results related to the words that you have searched (either synonyms or with descriptive words like coconut oil hair or the plural form of the word/s). You can use these keywords to see which is popular, what are people looking for when searching for your product, try different areas to see where the product will be more popular (determine where it will be best to spend on marketing or set up shop). Write these keywords down.
The next keyword planner tool is “Get search volume data trends”:
If you already have a list of keywords, this is more useful when you want to quickly check a products’ search volume. This tool is only to check search statistics. If you want to check for new keywords, do not use this tool.
You can manually enter (or paste) your keywords in the option 1 field or upload a CSV file. As in the previous tool we used, you can select your targeting criteria for more advanced results. Hit “Get search volume” when done and take note of the results that appear:
Our last tool option is “Multiply keyword lists to get new keyword ideas”:
This tool combines groups of keywords, making hundreds of combinations. Some of them might be unreadable, but you might find golden keywords. This tool helps to identify almost all the possible combinations consumers use to search for your product, helping you to be able to do more thorough research on your product.
Enter a list of keywords into “List 1”
Enter list of keywords into “List 2” that can be combined with list 1’s keywords. If required you can enter more keywords in another list (list 3) to be combined with lists 1 and 2 (lists can be added as needed). When done entering keywords into the lists, press “Get search volume”.
In the example above you can see how the results are shown. You can adjust your search criteria on the right side of the screen if you want to compare areas or keyword filters.
The two tabs below the graph called “Ad group ideas” and “Keyword Ideas”, is where you can see the different combinations that people search for.
Keep in mind that average monthly searches are an estimate and could be misleading, for instance: Christmas decorations could be searched 50 000 times during October, November and December, but during the rest of the year it barely gets searched. By hovering over the average search column of a result it will show you a graph of the last years searches per month, which should give you a more accurate average search per month (and whether a product is seasonal or not or whether searches are slowing down)
Note: Here you can also see how high or low the competition is for your product keywords.
Note: For more keywords (benefits) to add to your list for mind map: type your product name into the Google search tab. Only type in your product name or similar terms for your product. Google has a feature where it predicts what you want to type based on previously searched terms, write these down. Try playing around with keywords in the search tab to see more of these suggestions. Another method of finding suggestions is at the bottom of any search result. Google gives suggestions that are similar to what you have searched. By using these you can see what keywords people use most. This way you can see what people use or want to use your product for.
Now, before you write off some of your products completely because of the results you got from the above research, write down the popular suggested searches for each product so that you can answer some important questions first.
Keep all the research you have done on hand for my next blog where I will discuss these questions…