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Demand and Competition

     This week in Web Creation we focused on demand and completion research when starting a business. All of this information was gathered in GoogleAds. We created an account then switched to expert mode or create campaign later. We then used the keywords functions to find clicks, impressions and competition (high, medium, low.)

    Using the numbers we found within, we had to decide if the business idea was a viable one. Something that has low demand and high competition is probably something to stay away from unless you have a way to innovate it. On the opposite side, something with high demand and low competition could be a winner. There are things to keep in mind with what you find. To use the example Brother Scott used. Let’s say there is a high demand for hot dogs but there a ton of hot dog stands out there, if you choose to sell hot dogs as well you are going to have to find a way to differentiate yourself. Or let’s say you are going to sell snow cones in an ice castle. There’s little competition but there is also no demand. You’ll have to find a way to make people want your product.

    I personally don’t think GoogleAds should be the only research you do for competition and demand when looking to start a business but it’s a great start and was a really great learning experience.

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