Google Adwords can tell us how competitive certain products are and how much value our competition attach to relevant keywords. The researcher can use Adwords to plan and inform their competitive strategy and learn more about the market.
- [Voiceover] Google AdWords can tell us…a lot about how competitive markets are…in different countries and industries.…In most cases, there is a direct correlation…between the indicative cost per click…that the market is prepared to pay…and the level of the competition.…However, there can be exceptions.…In some industries,…the lifetime value of the customer is much higher.…And for that reason, even with little competition,…companies are willing to pay a lot more per click.…Let's look at an example of this.…A university that sells a three-year degree program…would value a student's total spend…at approximately $70,000 over three years.…
Hence, it would be willing to pay around…$25 per click to attract students.…A college, on the other hand,…that sells a one-day Excel course…would value the student's initial spend to be perhaps $100,…and maybe another $150 over the next three years.…Hence, it may be willing to pay a maximum…of only 25 cents or 45 cents per click…to attract the students.…Now let's look at how to measure the competition…
Adriaan Brits consults with organizations all over the world at improving their market research practices. Here, he shares his knowledge with you. Using data from big (and free) online ecosystems such as Google, Facebook, and LinkedIn, Adriaan shows how you can measure consumer demand, trends, market competitiveness, and direct competition. He also introduces some premium toolsets used by professional marketers. By the end of the course, you'll have the skills to conduct your own independent research and investigate your customers and competitors online.
- Conducting quantitative and qualitative research
- Understanding the limitations of what you can research online
- Using Google AdWords, Facebook, and Amazon to measure demand
- Using LinkedIn and Google to measure competition
- Seeing marketing research in action
- Using free or premium tools to carry out online research
- Using Alexa, SEMrush, and SimilarWeb for in-depth research