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Basic Market Research at the Macro LevelEvery impression displayed by Google for any specific keyword is a direct indication of a need at that instant in time. For example if someone types in Incredible Connection then at that point in time the searcher has an interest in something to do with the retailer, Incredible Connection … the search query is insufficient to tell us exactly what the searcher’s intent was. We just know that the macro level search query was relevant to Incredible Connection. By tracking the number of search impressions for each search query we get an excellent indication of the size of a market niche. In other words a keyword can be seen as a tiny market niche which in turn represents an immediate need of a person doing the search. In this section the results presented are for very broad (macro) search queries. The Method to Determine Niche Market SizesThe example used is based upon researching the online interest associated with well known brands and/or retail outlets. The results provide an excellent indication of the relative importance of each of these brands or retailers in the mind of South African searchers. Because the search queries are very broad the value of the information is limited. This initial discussion is simply to highlight the ease with which it is possible to do online market research. Where else could this information be obtained? Later in the paper we will discuss how we use the same principles to target important actionable market needs. STEP 1: We chose 180 well recognized brands or retailer names s shown in the following table. In search marketing we refer to these terms as KEYWORDS: Absa Table above showing 180 search queries (keywords) used to discover relative importance to South African online searchers. Notice deliberate misspellings in some cases. For example is it Pick n Pay or Pick and Pay in the mind of the searcher? STEP2: We created a Google Adwords campaign and bid on each and every one of
the above keywords. We set the maximum spend we were prepared to spend to obtain
our research information at $25 and set the campaign to go live at 10.00 on May
18th 2009. The above table below the relative importance of recognizable brand names to online searchers. For example the EXACT search term Standard Bank was typed into the Google search box 1,433 times in 6 hours. Without Google Adwords this relative importance would have been impossible to discover. All this research was done in 6 hours and cost $24.44. This information only relates to the exact term used. In practice the "market" is much larger than indicated. For example ABSA mortgage would be a completely different keyword, Woolworths food would also be a different keyword and so on. The above information while interesting may not be all that useful in terms of setting up a marketing strategy. However taking this approach to a different level shows how important and valuable Google Adwords is to completing in depth online market research. To be continued
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