Gone are those days when you launched a new product without proper data analysis. Whether you publish books or manufacture shoes or offer Laser Marking Technologies, as a business owner, you can now process more measured decisions in the 21st century due to the free tools that you get from Google. Product managers, business owners and executives should all take not of these tools so that they gain confidence in the new product launches, if correctly researched.
Product Vision and Strategy – Be future focused
A great hockey player plays where the puck is. A great hockey player plays where the puck is going to be. This quote is best applied to business and it is best to remember while making product strategy and different development decisions. When the pulse of the industry is at the tip of your fingers, you understand the likes, dislikes, needs and problems of the customers and you can also make informed forecasts of what they may want from the new product of the company.
When you couple this intimate knowledge on the customers with factual data regarding trends through online research can let you stay at the edge and recognize the new markets supported by increasing consumer interest.
Using SEO tools for product research
So, how are you supposed to use factual data? Google offers several tools to let you conduct keyword research and advertise your business with AdWords program. To know more on SEO tips, check this website here. Here are few thoroughly research product development strategies.
- Use the Google AdWords Keyword Tool
This tool is offered by Google to let businesses discover the bid on keywords for which they wish to target future customers through sponsored ads in Google search engine results. For this, you just need to enter the general keywords that describe your products to get a clear idea of what the customers look forward to in search engines.
- Use Google Trends/Insights to comprehend the market
Google Trends is another useful tool for predicting the general trends in consumer behavior. This will let you understand whether the potential market for the product is slowing down or growing. Enter the list of keywords discovered through the AdWords Keyword Tool and watch out for the graphs for the last decade.
- Conduct market audits to know about the competition
Every proper product development strategy will include market analysis. It’s vital to understand who your online competitors are. Search for the keywords that you choose and see check who ranks on the first page of Google. You can use Open Site Explorer for researching the domain authority of link profile of any website. They use a proprietory calculation that comprise of both quality and quantity of inbound links and this way the Domain Authority is calculated.
So, in case you’re looking for a company that can help you with product development, you may check out acceintl.com but for all the other SEO tactics, keep in mind the above mentioned points.