Using market research data from search engine optimization as part of the internationalization decision process

Abstract

Internationalization is increasingly important for many domestic businesses to find growth opportunities and to diminish the risks of relying on one or few markets. However, resources can be limited for such endeavours, especially in terms of financing and human resources. This thesis explores search engine optimization (SEO) and keyword testing as a cost-effective methodology for market research within the context of internationalization. Prior research has focused on search engine optimization from a content creation point-of-view, where companies aim to help consumers find their products. Finding consumers based on their search results is a much less discussed and researched topic, and thus of great interest.

This study combines search engine optimization, market research, and internationalization as the theoretical foundation for examining a novel approach to utilizing search engine data. Combined with the strategy of the case organisation, the framework warrants two methods for further exploration: a grey literature review and online keyword research. Keyword data is collected using tools such as Google Trends, Google Ads Keyword Planner and Similarweb. The data is then reviewed in terms of search volumes per markets, keyword trends and main competitors. Combining the results allows an examination of how market research data from search engine optimization can be used to identify new growth opportunities more precisely and cost-effectively than traditional market research methods.

The key findings of this study suggest that search engine optimization and online keyword research can offer a practical and low-barrier solution to decision-making in the context of internationalization, based on real-time data and consumer preferences. Furthermore, the findings advocate that this modern approach to market research can offer insightful results, which more traditional market research methodologies would have overseen, and offer companies a more flexible approach without huge commitment to neither time nor financial resources.

This thesis contributes to the field of search engine optimization for market research purposes, relatively new as a subject, and offers more opportunities for further research. Recommendations for such research are made, as well as practical applications suggested for the future.