2016-12-09 00:00:00 Business Ideas English Before you rush to development on your brilliant business idea, use some of Google's free tools to see if there really is a market for what... https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/10/Employees_modeling_Google_Trends_ideas.jpg https://quickbooks.intuit.com/ca/resources/business-ideas/validate-your-brilliant-business-ideas-using-google-trends/ Validate Your Brilliant Business Ideas Using Google Trends

Validate Your Brilliant Business Ideas Using Google Trends

2 min read

One of Google’s least utilized online tools could provide the validation you need to find out if your brilliant business idea is a home run or a dud. Before you rush to spend a load of time and money on development, you can leverage the power of search engine technology to find out just how much demand there is for your next big thing.

Google Trends: A Quick Overview

Google Trends is one of the many free Google-provided tools available to business owners and consumers. Search any word, phrase or terms and see how they rank in terms of search volume. Compare a word or term against its own historical performance or against other words and terms.

Google Trends offers a powerful perspective on keyword popularity. If you’re perceptive, you can use it to catch onto up-and-coming products, services or content before your competition does. You might also use it to see which businesses in your industry appear to be gaining or losing interest.

Google Trends and Your Business Idea

Suppose you come up with an idea for a product or service in which you have great confidence. You believe that, if done correctly, this idea could turn you into a major entrepreneurial success. Even if you are convinced of its success and consumer appeal, you can use the Google Trends database to get an more accurate picture about the potential popularity of your product.

Start by searching for similar products or related keywords. Google Trends results, which date back to 2004, will show you when and where your potential product or service is most popular – down to the region and time of year. It will show you if there is momentum behind the idea or if it is losing steam. You can also see if there are any previously unknown competitors out there who already have already put your idea to use.

Search related concepts to gain an insight into the kinds of features that your target audience finds most appealing. This can help you refine your product offering to be more successful right off of the bat. This is especially useful if you offer a product or service that seems technical, dry or non-intuitive, such as world-class accounting software, because you can try to identify which emotional connections are most likely to drive consumers to your idea.

Google Trends with Google Correlate

The sister product to Google Trends is Google Correlate. According to the Google tutorial, “Google Correlate is like Google Trends in reverse.” Search a phrase or word, and see which other results have a high correlation in terms of popularity, trend and audience overlap.

Once you use Google Trends to validate that your entrepreneurial idea has merit, you can plug that idea into Google Correlate to discover other applications or associated products.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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