Use Google AdWords For Product Testing, Market Research, and More!

Use Google AdWords For Product Testing, Market Research, and More!

Launching a new product is undoubtedly one of the most stressful and difficult times for any entrepreneur. Whether it’s your first product, your fiftieth, or your hundredth, knowing just how the market will react is something that you can never do through intuition alone. Although the most popular and successful entrepreneurs are said to have the ‘personal touch’ that can predict a product’s success, they’re more than often wired up to the hard data when making any major decisions. While focus groups and beta testers are often without of the financial means of many internet entrepreneurs and marketers, it’s easily possible to use the massive search traffic of Google as an effective replacement for traditional marketing test groups.

By running AdWords campaigns that are specifically targeted to your own market, you can gain some massive and valuable insights into your market’s performance, consumer preferences, and general price for any product. Simply put up a series of advertisements that test for several variables of your product, either price, name, and product description, and let the results speak for themselves. Whether you’re looking to sell 10 copies or 100, the information that an AdWords campaign can bring to you is priceless.

Need some guidelines? Here’s a simple example, using an eBook as a demo product:

You’re trying to market an eBook that you’ve written yourself. With five potential product names, 10 potential product descriptions, and no idea of the price, you need to gather as much information as quickly and cheaply as possible.

First, run five different Google AdWords campaigns, using the book’s potential titles in the ad text or headline. Everything else on the ads needs to stay the same, and there needs to be no mention of pricing or approximate costs. See which one performs the best, and then lose the others.

Then, run your ads with ten different product descriptions. The titles and headlines should be consistent and identical, with only the advertising copy changing. Find out which product description works the best for your audience, and lose the others.

Then, run the same tests over and over again, but this time to determine price point. Set ten different prices, and see which one continually leads to most people to both click on your advertisement and read through your product description and sales copy. At the end of the page, put a “name and email” form and collect details for potential customers.

By using this simple strategy, you’ve created a marketing database, an easy email list, and given yourself the opportunity to market to people directly once your product launches. Not only that, you’ve determined the best name, description, and price for your online product. Not bad for a little AdWords spending, and certainly more cost effective than the traditional methods of gathering market information.

Information Online ? A Great Source For Marketing Research

Information Online ? A Great Source For Marketing Research

The growth of the World Wide Web has been one of the major events in the second half of the 20th century. A big advantage of World Wide Web for businesses is the availability and quick access of information than ever before in the history of mankind. Businesses can access almost any kind of information from any corner of the globe just in few minutes that can aid decision-making. Information online has become a commodity available in many flavors.

Remarkably, there is an immense amount of information online that is not only accessible to all but can be created and shared by almost everybody. According to a claim by Google, there are around 8.1 billion documents online and are growing rapidly. A team of researchers from SIMS – University of California claims that the size of the information on the World Wide Web is 170 terabytes. Information of about 170 terabytes is equal to ten times of the information available in the Library of Congress. This new height of information availability and accessibility is influencing the dynamics of the global markets as well as regional businesses more or less equally.

Most of the data available online is in English as it is the most popular language online. More than 80% of home pages on the Web are in English, while the next greatest, German, has only 4.5% and Japanese 3.1%, according to englishenglish.com. Clearly, this means more information in English is available online than any other language.

The above statistics from various sources reiterates that the information available online is not only abundant but also growing rapidly at an exponential pace. This vast size of the information available never earlier in the history of mankind, sometimes becomes a challenge for the business researchers to find the reliable and credible information within it.

The major contributors of the information online that is useful for the businesses are market research companies, industry associations, related-industry web sites, competitor companies’ websites and government sources like www.bls.gov. Information from various sources from a variety of backgrounds can help online researchers to crosscheck and validate the data they are collecting for the research purpose. Information thus derived from the online secondary research is good enough to give insight into the research issue and help the businesses in well-informed decision making to the extent possible.

The increased efficiency of the information availability has significantly increased the level of information endowment on a variety of fields of marketing and business as a whole. The abundance of information available online that is instantly accessible at low or no cost has certainly created a great resource for secondary research for businesses.