We lived in an increasingly globalized world. As a result, businesses today cannot entirely hyperlocal, Business Expansion needs to happen In order to grow and sustain.
If you’re like most entrepreneurs, the biggest dilemma today is figuring out how one can expand their existing business geographically. Business Expansion can be expensive, which is why many people often take months to develop a strategy to expand outside of markets of their own.
But there is one solution that is available right at their fingertips: Google Keyword Research.
Google Keyword Research, as the name suggests, is a tool whereby firms can assess trends in their sector. They can also observe consumer behavior on the internet related to their sector, among other such details. It has become an incredibly powerful tool in boosting business organically, at a very minimal cost.
After you have set up your company’s Google Analytics, accessing Google Keyword Research becomes extremely easy. But how do you start seeing results and utilizing the data available? Here’s a step-by-step guide through the process.
For the sake of explanation, let us consider your business as a simple toy store set-up. As a small business, you are likely going to need more audience coming to your establishment and hope to expand to 10 new locations by the end of the year. Here’s the first thing you need to do:
Step 1:
Use the Keyword Planner that is a part of the accessory kit of Google Trends to assess the demand for Toy stores. The results displayed will tell you where the most common spots are, and who is looking for it.
Step 2:
Now that you have identified these key locations, it’s time to assess whether this is a trend or is a sustained demand. To know this, you will obviously need to know the historical pattern of these areas. Set the dates back to a decade, so for instance here you can go back as far as 2004 even to see the demand. This will give you an idea of whether there has been sustained demand for toy stores in these areas, or whether there has been a spike in certain years. It will give you a better understanding on whether you should take a bet expanding here or not.
Step 3:
The previous data-set will give you a key token: consumer behavior. For stores that depend on return customers, this is really important information. Analyzing the historical pattern of consumer behavior will allow you to alter your stock and inventory based on what the needs of the people currently are, and deliver exactly what they need. It will also allow you to design your Toy Store in a way that makes it easier for a customer to navigate through the premises, with ease. This way both you an entrepreneur are satisfied that you have delivered a good product, and the customer is able to shop from your store at ease.
In order for expansions to be successful, it is extremely important that keep with the trends. By using these free Google Tools, you can also note a spike in trends and adjust your product based on them. Today, they form a huge part of businesses and are often front and center of many business models.
People also respond to trends more impulsively. This would motivate them to make quick, spot purchases. By using Google Tools, you can introduce elements of trends in your marketing and project trends in order to grab the attention of your audience and motivate them to make impulse purchases.
As entrepreneurs, our goal must always be to bring the next level to our businesses. Technologies like Google Trends and google keywords allow us to dive into the pulse of the purchaser, making us more socially aware businessmen and women: capable of delivering something of value to our consumers.
The limits are endless when it comes to Business Expansion.
What do you think how these tools can help business to grow?
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