Google Market Finder, If you’ve ever thought about taking your business global, you’ll be pleased to hear that you can do this easily with Google’s free Market Finder service. Market Finder allows you to identify the insights you need to spot new markets, forecast likely demand, and engage valuable customers.
Marketing your business abroad can be challenging. Discover how Google’s Market Finder can help you identify the most suitable market for your product or service and successfully reach new markets.
What is Market Finder?
Market Finder is a free Google service for businesses interested in expanding abroad. It provides detailed insights into which markets are best suited to your product or service, plus useful guides on how to expand into a new market.
The GMF can help pave the way. Just enter your commodity code in it, and you’ll see a map of the world that shows countries where the product is being exported. Then, depending on the commodity code, the GMF will provide the unit price for each country, providing more information to help you make informed decisions about whether to enter certain new markets.
How to Increase Sales through Google Market Finder
If you want to expand your market and increase your business sales with Google Market Finder, go through the following process.
Research your target markets
First, you need to prioritize the countries where your products or services will appeal most. Market Finder’s interactive pathway can help you pinpoint a shortlist of promising new target markets for your brand to determine the demand for your product or service through local monthly searches, popular market trends, disposable income per capita, internet users, and recommended bids. Market Finder will show you which countries are right for you, based on the likely demand for your products or services, competition, and more. It’ll also provide useful consumer stats for each market and an idea of how much your ads will cost to run.
Plan your operations
Once you’re okay with your shortlist, Market Finder can help you plan operations tailored to your markets of interest, including localization, payments, customer care, as well as tax, legal, logistics, and recruitment.
With Market Finder, you can identify the right languages to advertise in, the right devices to target, and more. From here, sit down and brainstorm ways to get your target audience in your new market to engage with your product or service.
Market your business
Market Finder can also help you develop your international marketing strategy. It helps you consider advertising solutions and the importance of analytics and measurement and gives guidance to developers.
Measure your success
After you’ve expanded internationally, use Google Analytics to monitor and optimize your Google Ads campaigns. In addition, you may use Google Analytics to unlock insights about your audience, including Who’s using your site, How they found it, Which pages they visit, How long they stay on your pages for, What actions they take on your pages, What their interests are, and Why diversifying markets is best for your business.
Benefits of Google Market Finder for your Business
Finding and breaking into new markets has always made good business sense. But with the economic impacts of COVID-19 encouraging companies to start or strengthen their e-commerce sales, there’s never been a better time—or more government and commercial support—to explore other countries for sales opportunities. Here are just a few of the many reasons to get into the global-market game:
- You can start small by entering just one new market at a time. It’s better to expand in bite-size pieces rather than bite off more than you can chew.
- There are tons of resources to help you ensure your business is export-ready, no matter its size. In addition, there’s a network of trade-related organizations that work together to help you do business internationally.
- Diversifying markets means you can spread your risk. As a result, your company will be better equipped to sail through economic ups and downs, making it less vulnerable and more resilient.
- Larger markets equal more sales opportunities.
- Dealing in other markets can expose you to new ideas, technology, processes, resources, equipment, and talent. Then, you can apply those learnings to make your company more innovative and competitive both at home and abroad.
- a new market before your competitors can give you a first-in-market advantage and the chance to build brand loyalty, making it harder for your competitors to follow
The internet has broken down international trading barriers to bring potential customers to your door at lower risk and lower costs. But, market Finder makes it easier still. So, if you’re wondering if global digital expansion is right for you and relevant to your industry, Market Finder can help you decide.