Ok. We now have 10 keywords for our 10 markets. They should be broad keywords, and single words so “marketing” rather than “internet marketing”. We want to find out whether people are prepared to spend money in each market, and the easiest way to do this is by looking at adverts.
If someone is paying money to advertise to people in your chosen market, then presumably they are selling a product and making a profit. A rough guide to the “value” of a market can be calculated by multiplying the number of searches in a given period by the cost of the pay-per-click ads for that keyword.
Of course, the number you get by doing this is completely arbitrary. Its only value is by comparison with other numbers created in the same way.
Until recently, you could use the Overture Keyword Tool and the Overture Bid tool to generate these numbers. However, Yahoo Search Marketing (who bought Overture some years ago) have recently made the Bid tool available to their advertisers only. The Keyword tool is still available (at the time of writing), but might disappear at any time.
No matter. Since the numbers are purely for comparison purposes, we can use keyword metrics from any source. The Bid tool is a little harder to replace, but Google will tell you what the highest bid is for a particular keyword.
I like using NicheBot, which gets its results from WordTracker and Keyword Discovery. You can also use NicheBot Classic, or WordTracker, or Keyword Discovery.
Next time, we’ll look at some examples.
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