In a recent video, Google Trends team shared tips on maximizing its tools for benchmarking against competitors, analyzing brand awareness, and forecasting product demand. Curious? Dive into the details below.
Competition Analysis
The level of competition among businesses can be assessed using the graphical and visual data provided by Google Trends. By entering two names, users can explore their historical performance. Additional options, such as country and subregion, enable the display of more precise data.
Follow the steps to find out how to use Google Trends for competition analysis data.
1) Open Google Trends using the search engine.
2) Add a search term in the search box and click on explore.
3) Add the other search term (Competitor’s name) in Compare search box (in our demonstration we are comparing KFC with McDonald's).
4) Select from the available options a country, starting time period, a category and search option (Whether you want image-related data or Youtube data), as per your wishes.
5) To make data more specific, select a subregion of the country to find out about consumers’ behavior in that area.
6) Related search terms are also given for more related-comparisons.
The graphical data shows which fast food chain has been in business in the last 30 days, especially in the subregion. BTW, users can change the date range to include data from the past five years or further back. The data provided by Google Trends would allow digital marketers to invest and promote the brand which is more in demand in their area.
Tracking Awareness about a Brand
The data also helps digital marketers to know how popular a brand has been over the years. The past trajectory allows them to see when a specific brand gained popularity in a specific area and what caused that sudden boom in the business. Similarly, related terms give clues about what people mostly associate with the brand in question.
Changing the category from web search to Youtube search can also provide data from across the web for better decision making.
Potential Future Trajectory
Moreover, a prediction could be made on the basis of the data about the future trajectory of a brand. By analyzing what caused the boom in the past and whether those elements still exist, the potential future of a brand could be predicted.
By reviewing seasonal data and competition with other brands, the future of a specific brand could be seen hidden in the past trajectory. To find out about other brands, related terms given at the end give clues about what might occur in the future.
Conclusion
The just mentioned ways using Google Trends would provide great insights to digital marketers before they make important decisions. Data provided by Google Trends would save many from committing mistakes by investing in the wrong place. Moreover, they could trace the popularity of their brands.
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