Continuing with its quest for empowering SMEs, Google innovates another tool-Google Global Market Finder a free online tool for advertisers to find new markets overseas
Google’s innovative search technologies connect millions of people around the world with information every day. Founded in 1998 by Stanford Ph.D students Larry Page and Sergey Brin, Google is a top web property in all major global markets. Google’s efforts to help SMEs with online advertising are appreciable.
The fate of small and medium business (SMBs) sector that constitutes almost 80 per cent of the total number of industrial enterprises in India hangs in balance as challenges block their road. To ease up this roadblock and provide SMBs with huge opportunities and potential to grow, Google India has taken a mix of offline and online initiatives to partner with SMBs and educate them about the power of internet. They are organising workshops and seminars in regions across India as part of their offline initiatives. Joining the bandwagon is Google Global Market Finder –a free online tool for advertisers to find new markets overseas.
Through this tool, Indian businesses can expand and reach out to potential markets internationally. Global advertisers can identify, reach and engage with customers worldwide. Towering over traditional barriers, one will be able to make a breakthrough in international expansion to find right customers, translate their websites and ad campaigns in local language etc. This will be available in 43 languages.
How it works
It is easy to identify new markets using the Global Market Finder by keying in words that describe their products and services. There is an option for selecting the region they want to explore also.
Those keywords are automatically translated into any one of 56 languages used in the selected region.It then ranks each location by opportunity based on factors like local search volume, suggested bid price and competition for each translated keyword.
The Indian export market has seen a growth of 37.5 percent in the last fiscal year, i.e 2010-2011. This simply shows the potential in this space. There has been a marked growth in the last two years in the domestic market. It is quite correct in its assessment of demand. Google is indeed helping SMEs compete in the global market.
Faisal Farooqui, CEO, of Mouthshut.com shares, “Google is coming up with lot of innovations and it is helping us to reach a population, we would not reach otherwise. With its plan to discover potential customers it is helping in searches which are helping both small and big businesses equally. It is a cost effective medium of reaching people not ordinarily possible by large scale advertisers. Google’s business originates from search and that’s how its business grows.
Google’s Adwords is transparent and simple. At the moment, Yahoo is posing a threat to Google as the former’s people reach small businesses, yet Google’s space is dominant. I would like to give one piece of advice here, Google should be wary of new formats from companies like Mouthshut and Twitter etc".