Using Internet to Export: Google Global Market Finder and Consumer Barometer
You have a great product and you want to sell it beyond your national borders? The Internet can help you boost your exports. Thanks to Adwords, Google enables to advertise for your products very easily, in many countries. But the Internet giant offers other tools that can help you design your internationalization strategy and define your online marketing in this process. Your website can be the closest shop to any customer in the world, be it in a B2C or a B2B perspective. These tools can help you leverage your web presence to grow international.
Find sales opportunities
There are 2 billion people online globally and one third of users would buy from abroad if a product is cheaper or better. How can you identify the right market(s) for your products?
With Google Global Market Finder, you can discover how many searches for a given product (keyword) are made by country and, thus, assess if there is a demand for such product. The Global Market Finder is a part of Google Translate. This implies that it takes into consideration several languages. From a keyword in a specific language, it will translate it in languages used on selected markets and see if they are used.
Assume you want to sell rc (radio-commanded) helicopters. You will see that Germany, the US, Japan and Italy are the four markets where the keyword “rc helicopter” is most searched in the national language of each market. The market finder will indicate how many local monthly searches are made with an approximate 12-month average. For instance, In Germany, there are 3’600 monthly searches on the keyword “rc hubschrauber” and the same amount of searches on its synonym “rc helikopter”. Google also indicates the average cost-per-click (CPC) on your keyword, the level of competition with the number of advertisers bidding on the given keyword and the general opportunity that the market represents (see below).
Before that, you will have to know which region of the world you want to target. In the example we selected the G20 countries, but you may select emerging economies or continental areas. You can also refine your search selecting some of the additional keywords automatically suggested by the system.
Explore the available marketing channels
Okay, so I know that there is a bunch of people looking for rc helicopters in Germany, US, Japan and Italy. Does it mean that they are going to buy from me online? Or should I rather concentrate in developing sales channels with retailers? Google goes further and provides interesting insights on consumers’ behavior online with the Consumer Barometer.
With the Google Consumer Barometer, advertisers can see trends of search and purchasing behaviors online by general industries and geographies. Concretely, it indicates how many consumers purchase categories of products online or not and if they look for it online before purchasing (see video below).
In the case of our rc helicopters, they would fit in the category of “toys”. What the barometer tells us is that Germany and Japan are the biggest online purchasers of toys online with respectively 34% and 27% of toys purchases occurring on the web. The US follows closely with 20%, while only 5% of Italians are inclined to purchase toys online.
Did these consumers search for toys online before purchasing? The tool gives you insights on this as well and indicates the percentage of consumers having looked online-only, offline-only or both online and offline before purchasing a category of product. As the graphic below emphasizes, 41% of Italians have looked offline-only before purchasing a toy and 37% of Americans did not do any research before purchase.
The tool also enables to compare two countries in terms of online-offline purchase and online-offline research. As shows the example, if 18% of Germans and Japanese did search online-only and purchased online, 14% of Germans searched online-only before purchasing offline against 11% of Japanese. Online search might thus have a slightly bigger influence on German consumers.
And so, what can you do?
All these information have serious implications for your international marketing effort. Indeed, it can seriously help you define your strategy from market identification to advertising tactics. You might favor online advertising in markets where there is high level of search for your product and invite visitors to purchase your products through your online store mainly if they are inclined to do it. On the contrary, you may invite consumers to visit your point of sales and insist on a more integrated marketing and sales channels development strategy if the tendency is to purchase offline. In parallel, the Google Global Market Finder will help you understand if there is a demand for the products you are selling on specific markets and which markets might have potential demand. Overall and together, they are highly relevant tools to help you define your international marketing strategy and boost your exports.
Of course, it is important to dig more, analyze and acquire more information on the markets where you want to operate, especially in a B2B perspective. In order to go further, developing your network of business partners will be a necessity. Here too, the Internet can help and Novertur is a good example of that…