Google’s Adwords can be an effective tool for market research. This is especially true with market research for websites, such as those used in affiliate marketing. Google’s Adwords program can give you an idea of how many monthly searches there are for specific keywords and phrases that relate to your product. Once you understand the market demand for products similar to yours, you can tailor your own website to meet the demands of consumers who may have an interest in your product.
One of the simplest and cheapest ways to assess market value for a product is to use the keyword research tool provided by Google. Google’s Adwords research tool tells you how many online searches have been conducted by Google users over the past month for a specific keyword or phrase. For instance, if you are selling laptop computers, enter “laptop computers” into the keyword tool to see how many people searched for that exact term and all related terms in the previous month. The more specific your search phrase, the better. “Refurbished Dell laptop computers for sale” is more likely to give you an accurate picture of market demand than a more general phrase such as “laptop computers.”
A high volume of searches for one specific term does not necessarily ensure high market demand for your product, but it does provide a good starting point. To more accurately determine market demand, also examine related searches to see how many high volume specific searches pertain to your product. The higher the number of high-volume keyword searches related to your initial search term, the better. For instance, a search for “baby clothes for sale” reveals 40,500 global monthly searches and 14,800 local monthly searches. Google’s keyword tool reveals that “newborn baby clothes” has over 550,000 local searches and over 1 million global searches. Other similar high volume searches include terms such as “cheap baby clothes,” “designer baby clothes” and “newborn baby clothing.”
Once you have an idea of some of the keyword terms people will use, you can set up a test campaign to determine whether searches will translate into potential sales of your product. If you purchase a domain name and create a landing page, telling people about your product, you can test market demand by simply having these potential customers provide their name and email address. This will give you a more accurate gauge of customer demand by telling you the percentage of people who have an interest in your product versus the number of people who landed on your page either by mistake or just out of curiosity.