How Internet Search Trends Drive New Markets: A Look At CBD
The Internet has made marketing easier with the possibility of reaching a large and extensive market at very low costs. Internet trends work as a tool to help you understand people’s thoughts about a product. The searches, place of origin, and the approach of these searches are all recorded.
These days, it is possible to buy almost all goods and services online. Through typing a simple question, such as how to buy CBD oil online, you can easily find what you’re looking for from a variety of sources. What fewer users realize is that search, along with millions of others each day, is compiled by data banks such as Google Trends.
How Can Google Trends Spot New Markets?
Continuing with our CBD example, say you wanted to know if it would be better to target ads for CBD oil or CBD gummies. You could simply visit Google Trends and compare the two search trends on a handy graph. This graph clearly shows the public interest in a given topic using the search volumes for the term over time. You can search for a single term or multiple terms to compare.
From the comparison graph, as you can see, the CBD market really started gaining momentum in 2016 and has kept climbing ever since, but in those three years, CBD oil has always outshined CBD gummies in search volume. According to iSum’s comparison on the highest-rated CBD gummies and the supplementary research presented in the article, there is clear increased interest for different ways to consume CBD. Just look at the search trends below.
This data would suggest two things then. First, that the CBD market is still in its upswing (the trend continues upward). Second, that CBD oil is going to be a better primary marketing target, for online efforts at least, than gummies. Finally, the data is clear that people are buying CBD oil near them more often, often times from shops and dispensaries, rather than venturing to online avenues. This allows CBD to be used for more immediate treatment for conditions like pain, where a customer can’t wait for shipping of product and he or she needs immediate relief.
Google Trends has even more to offer though. Below the graph above, you’ll see where the search is most popular as well as related search queries and their popularity (rising with a percentage or “breakout” meaning the search term has seen growth over 5,000 percent over the set time period!).
This data can help the company know which areas to target the heaviest and may highlight some avenues to do so. For instance, the top two related queries involve dogs. If this company doesn’t already sell CBD for dogs, they may want to start and market heavily in Alaska, Montana, Utah, Kansas, and Idaho. That is easily achieved via targeted marketing on popular platforms such as Facebook.
If this is done, Google Trends has just effectively driven this company into a new market—CBD for dogs.
In another instance, had an entrepreneur been looking for a new product to base their startup around in 2016, and were keeping an eye on trends, they may have been able to catch the CBD wave early, establishing a firm place in the market.
In this era, shoppers have embraced the online market, and that’s unlikely to change anytime soon. Savvy marketers and research divisions would do well not to ignore the data made readily available to guide their efforts into the next century. Internet search trends are sure to continue driving markets for years to come.