Research New Markets Using Google Global Market Finder
May 14, 2011 by Gwendolyn Regina T
If you have ever advertised for your company, you should take note – especially if you use Google’s advertising tool, AdWords. As part of a package aimed at helping companies reach overseas customers, Google’s Global Advertiser is a step-by-step guide to help companies research new markets and after, localize their websites and ads (using Google AdWords) into a target country’s language. The first step in this package is the Google Global Market Finder – a tool to help companies assess business opportunities around the world extrapolating from Google Search data, Google AdWords keyword bid and competition using Google Translate’s keyword translation technology; it allows you to view search volumes and Google AdWords costs for your keywords in any market worldwide.
From the press release:
“Global Market Finder helps businesses answer the question: who are my potential customers overseas? Businesses enter keywords that describe their product or service and select the region they’d like to explore. The Global Market Finder automatically translates those keywords into any one of 56 languages used in the selected region. It then ranks each location by opportunity based on factors like local search volume, suggested bid price, and competition for each translated keyword.”
Screenshot of Google Global Market Finder search results:
Click for enlarged version.
How “opportunity” is determined in the Google Global Market Finder is based on an “Opportunity Score”. From the FAQ:
How does Global Market Finder determine Opportunity Score?
Opportunity Score is a dynamic metric based on local monthly search volume, suggested bid, and competition between different locations in your target market. If two locations have the same search volume, then the location with the lower suggested bid receives a higher Opportunity Score. Similarly, if two locations have the same suggested bid, then the location with the higher search volume gets a higher Opportunity Score.
Aliza Knox, Google’s Managing Director of Online Sales in Asia-Pacific says, “There are 1.9 billion consumers online worldwide and tens of millions of businesses looking for products and services on the web and the Global Market Finder and Google Ads for Global Advertisers help advertisers, including the 154,000 SMEs in Singapore and 600,000 SMEs in Malaysia, convert these consumers and businesses into customers and grow their business globally.”
Find out more about SGE’s research arm: SGE Insights, providing customized in-depth research reports to help you navigate the business of technology in Asia.
About The Author
Gwendolyn Regina T - Co-Founder and Editor-in-Chief
Gwen is the co-founder and editor-in-chief of SGE. Previously, she was a partner of early stage technology investment firm, Thymos Capital and she has had two exits, one of which is iHipo. She is also an investor in Padlet, a Y-Combinator startup. Gwen also sits on the Board of Advisors for the Singapore Innovation & Productivity Institute, Steering Commmittee for the Singapore Infocomm Technology Federation Awards 2013, and Board of Advisors for Social Media Week 2013. A frequent public speaker, mentor and judge at various startup bootcamps, events and competitions, Gwen loves meeting founders, developers, designers and scientists across all ages. An alumnus of the National University of Singapore and its University Scholars Programme, Gwen also spent some time in Silicon Valley and is a graduate of the NUS-Stanford University overseas college programme. She is also a mentor at Polish tech startup incubator Gamma Rebels, the Singapore curator for US-headquartered StartupDigest and the Singapore Ambassador for the Sandbox Network - the leading global network of innovators under 30. Gwen has also been a Worldwide Judge for Imagine Cup - the premier student technology competition helmed by Microsoft. She has also spoken in Hong Kong at one of its largest youth conferences, MaD Asia, and was recently in Austria to help envision the future of the country's economy in 2032 on invitation from an Austrian governmental organization. Gwen speaks 3.25 languages, loves physics, travelling, dance and adventure sports. She can be found on LinkedIn and Twitter.Read other posts by Gwendolyn Regina T