On Tuesday, October 20th Google launched a new tool for retailers. The tool shows where, when, and how people are searching for products.Their intention is for retailers to further understand consumer behavior and make better decisions around their marketing and inventory strategies.
According to their release: “87% of shopping research happens online, 92% of goods are still sold in retail stores.”
While looking at product interest by city and time, retailers can identify trends in search queries and make changes to their business accordingly. Check out an example about Black Friday and consoles last year:
This is powerful stuff when it comes to your business, particularly inventory and local demand. Whether you are a manufacturer needing to send inventory to your local markets, or a retailer looking for the closest inventory, Google Shopping Insights can help.
If you are running AdWords campaigns, use this tool to keep on top of real time data to customize your campaigns for when your customers are searching. That will save you money and increase your ROI.
AH: Ok, I get it, but isn't "content syndication" something that standards-based data pools solved decades ago?
JA: Good question but sort of like suggesting the covered wagon solved for the challenges of distributing physical goods. Times change and needs change. But, let me give credit where credit is due. In 1974 a number of innovative organizations came together to prove that with a machine-readable barcode and access to an organized data structure, the process of grocery check-out could be made more efficient. And, in June 1974, at Marsh’s Grocery in Troy, Ohio a pack of Wrigley gum was accurately scanned at check-out. Amazing stuff. Innovative. Transformational.
But we're in a different world today. That pack of Wrigley gum sits in the Smithsonian and Marsh's went bankrupt in 2017. Yet the organization - and the data structures supporting that transaction some 50 years ago - still persist today in the form of a standards-based database that needs to "synchronize" globally on a nightly basis. Brands, manufacturers, and retailers reliant on that sort of outmoded technology (and there are tens of thousands) are now challenged - and candidly, failing - to provide the type of rich, engaging, actionable data today's consumer demands.
Venzee was built in an era of cloud databases that persist globally with no need to "synchronize." We are API - which is code for “easy to connect with” - on inbound and outbound transactions. And, we leverage deep learning and other advanced tech to recognize, communicate, and resolve anomalies across the whole of the content distribution system.
AH: Impressive. But what does that mean for growth at Venzee?
JA: There are significant implications. Our goal for 2019 is to continue to grow our partner relationships and improve their clients content distribution. We are in the process of integration with our announced partners and expect those to go live.
And, while I don't have a crystal ball, I can tell you that our partner discussions and current engagements all tell us the content distribution pain Venzee eliminates is a critical challenge their clients need resolved to remain competitive.
If that is true - and I believe it is - then Venzee, as a modern, pure-play content distribution solution, is well positioned to facilitate the digital connection between brands, manufacturers, retailers, and consumers on a global scale. I don't exactly know how to assign a value to that statement, but if the choice for a brand or retailer today is between tech in the Smithsonian or Venzee, Venzee wins every time.
AH: Many thanks for your time John,
Please don't hesitate to reach out to me with any further questions or comments.
Arlen Hansen, President, Kin Communications Inc.