In uncertain times, with a high unemployment rate and people not sure about their financial future, the first effect on the economy is reduced consumer spending. Economic indicators show that savings rates go up, as we’ve seen an increase from 8% in March 2020 to 13.1% in April 2020, as people are afraid of not having enough money in the near future to pay for the basic bills like mortgage, rent and groceries.
That leaves retailers, especially, small retailers struggling to attract a reduced amount of disposable income in the market. Usually, this means that social media marketing campaigns have lower conversion rates and higher costs for your business, so it is important to use tools to help you implement more effective strategies. We have spoken about some of these solutions in other posts; however, today we will focus on a specific tool: Google Trends.
What is Google Trends?
We all use Google for our searches (ok, maybe a couple of you use Bing) and this is especially true when people are looking around the internet for their online purchases. So, Google Trends is a tool that provides the frequency a term or an expression is informed in the Google Search engine. This enables you to see the most popular searches on the tool for a specific region, as well as enter a keyword of your interest and analyze the search history and periods when there was a peak in searches.
Another important feature is that Google Trends gives you related search terms, their search volume and interest by region in the country. You can use these insights both for your local SEO strategy and for creating more effective campaigns for Google Ads. Also, you can customize your digital marketing strategy specifically for your state, based on actual search data, for better results and ROI.
Understand how seasonality impacts your business segment
One of the great benefits offered by Google Trends is its extremely user-friendly data visualization tools. This is important because when we are talking about so much data, being able to just glance over the screen and understand a trend helps you to make decisions for your SME on the fly.
The marketing budget of a small business is extremely limited; thus, you must be as assertive as possible in your campaigns. And noticing seasonal impacts can make a huge difference. It does you no good using a high-volume keyword in your summer sale if searches for that expression are concentrated during winter months. One great example is how the search for chocolate is concentrated around Easter and fresh cut flowers around Mother’s Day.
Rising retail categories
One of the coolest features that Google has released to complement Trends and that is particularly valuable for small retailers is the page Rising Retail Categories. Its goal is to help businesses understand the fast changes in consumer behavior during the pandemic.
It is simple and informative. You have a section of Top Trending Categories for the day and the growth percentage in searches for those categories. When you click on the category you can see the most popular queries under it. This is important for your content marketing strategy. You also have the Top states in search volume for that category. You can select the period to analyze the change in searches (weekly, monthly, or annually).
Information is updated daily, so create a task to check it out in the morning and see if any category related to your business is trending. A great tip is to use data from top growing queries and cross-reference with Instagram hashtags, so you can create more effective posts in your social media strategy. Take advantage of what is trending now.
The Number: 13.1%
The Action: Google Trends is free, is easy to use and extremely resourceful, especially for SMBs that want to stay on top of consumer behavior. The new page focused on information for retailers is the cherry on the top, so create a routine to use this tool every day. It will provide the information you need to fuel your digital marketing and social media strategies with straightforward, regionalized content, focused on generating more sales.