A level allows you to place a device on a surface and determine how level that surface is. You might use it for hanging a picture, pouring a concrete floor, or building a house. A traditional level is a tool used by millions of people everyday. How would you begin to forecast sales for this tool?
Here is what I would suggest:. Start with the Google Adwords Keyword Tool — I would start by using the Google Adwords Keyword Tool to get an estimate of the number of people that are searching for a level tool each month.
Here is what I found for just a few of the relevant keyword phrases:. These three pieces of data give you an idea of your market potential. With , monthly searches represented in just 3 search phrases on Google, it is safe to say that there are at least 1 million monthly searches for level related keyword phrases between all of the major search engines.
Other Markets — To be clear, you will probably be able to sell many units of your app to people who never performed a search for a level. For example, a worker on a construction job may have purchased your app, when he pulls out his phone to use the app the entire crew working with him sees the app and immediately purchase the app for their own phone. There are other markets, but it is difficult to quantify when you are forecasting future sales.
Start to Breakdown the Total Market — Now that we know there are at least 1 million searches per month for a level tool, it is time to start breaking that number down to determine how much of that market you can realistically capture.
Here is how I would do it:. So after you whittle away at the original 1,, monthly searches you find that only , of those 1,, searchers have an iPhone. Advertising Click Through Rate — Google Adwords is incredibly powerful because you can target ads for specific keyw. So you might set up an ad campaign that targets all of the level tool related keyword phrases that is only displayed when the user searches using an iPhone. Just keep this in mind during your comparisons. You can compare terms and entities, plus visualize data by location, related topics, and breakout terms.
Use Google Trends to answer the question: What are some recent changes in the landscape? The Benchmark Report takes a look at your individual traffic and compares it to the industry benchmark. Keep in mind this benchmark comes from the overall industry, not necessarily a particular niche within that sector. The Google Ads Keyword Forecast tool helps businesses look ahead, which ultimately helps them stay on the cutting edge of their industry.
SEJ » Paid Search. Want to stay ahead of the curve? How do you even predict that? The Google Ads Keyword Forecast tool does just that.
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