If a seller does not correctly evaluate the product and market segment, then his choice and chance of success are random.
1 Understand market demand
We can understand the market demand by using Google Keyword Planner. This tool can search for keywords and view the search volume, competition intensity and related search terms for each keyword.
2 Analyze the target market of the product
From the search results, it can be seen that many people are looking for information and products related to coconut hair oil. Sellers want to know where these people are, and can use Google Trends for analysis.
Google Trends can not only search for hot search trends of keywords, but also search for which popular countries and cities are looking for specific keywords for products.
It can be seen that in addition to the United States, the Philippines and South Africa are also the countries where sellers are looking for the highest potential products. However, the Philippines is a country rich in coconuts, and they do not necessarily search for this word to buy this product, which requires comprehensive consideration of various factors. Click on a piece of information on the search results page to see which cities in the country have the most searches, as well as the trend chart of the city’s search for the keyword. The number of searches in different cities in the same country.
3 Use social media to understand market demand
The above analysis of buyers’ search interests from the perspective of search engines, now let’s take a look at consumers’ interest in products on social media to understand consumers’ market demand.
Twitter is one of the social media platforms for understanding the market potential of products and whether consumers are interested in products. Sellers can use Topsy (a search engine based on Twitter microblogs) to search for the keywords they need.
For example, use Topsy to search for “coconut oil” and “hair”.
About 150 to 250 people search for keywords related to “hair” every day. This implies consumers’ purchasing intentions.
In short, using social media to study products can not only see the potential demand for products, but also help sellers understand the ideas of potential customers, which is more conducive to product promotion.