New Business Ideas – Profitably Exploiting Consumer Trends

New business ideas are sometimes hard to come by and I’ve been recently researching more techniques to discover the latest emerging consumer trends. I say “more” because I have previously blogged about consumer trend websites that I use. This time I’ve been letting the data tell me what is important:

If you haven’t seen Google Insights then please do check it out. It’s free and is a really useful tool which charts the level of interest in various Google search terms through time. Of course this is a great proxy for emerging consumer trends. Here are 3 tips for using it that I am finding very useful:

1. Pay attention to seasonal trends (i.e., monthly). Try entering “Easter” to see a nice example!

2. The “Rising Searches” table is very useful for observing more specific and targeted search terms.

3. Make good use of the facility to select geography. If you are considering setting up a local business then this is invaluable to inform you which search terms people are using to find your product or service in your specific local area.

I’ve been able to come up with several new business ideas using these techniques as well as checking to see whether consumer trends are supportive of my existing business ideas.