How to estimate the value of your keywords

Keyword research is one of the most important aspects of an SEO campaign. After all, if it’s undertaken correctly, it can result in a significant amount more of traffic, conversions and sales.   

How do you start estimating the value of your keywords?

If you haven’t had experience in keyword research, it can feel overwhelming. What do you do first?

• Use Google Keyword Planner

When you’re starting out, you’ll want to use tools such as Google Keyword Planner. This tool will help you to get keyword ideas, see how a keyword might perform and plan your Search Network campaigns. You can even choose your competitive bids and budgets for your campaigns. When doing your keyword research, have a look around for other tools, and consider ones such as SEMrush, or even SpyFu.  

However, you don’t just want to use any old keywords. You want the keywords that will attract those who will convert.

• Do a competitor analysis

This will help you to know whether the keywords in your list are valuable or not. To do this, you can use SEMrush or SpyFu to look up a competitor's domain name and see what terms or phrases they are ranking for. You can even do a simple Google search, and see who ranks for certain keywords. So why should you even bother with competitor analysis? It lets you know what people within your industry are ranking for, and whether there is a good conversion rate. It also allows you to know how difficult it will be to rank for a particular keyword or phrase. Remember - just because your competitor is ranking for a particular keyword, doesn’t mean you have to use it. A competitor analysis will help you narrow down your list of keywords.   

• Know how much keywords cost

The cost of your keywords will affect how much you have to spend on your campaign. The most popular keywords are the ones that are going to be the most expensive. This is because Google takes into account how the keyword is being received. However, before choosing the high-value keywords, make sure it is a financially sound decision. If it is not driving conversions, then it may not be feasible to use high-value keywords. Before starting your campaign, make sure you establish the keyword cost per click. Establishing this will help you to put a budget in place. It will also help you to establish how much it will cost you to generate a lead. If you don’t have a positive ROI, then you should reevaluate the keywords on your list.   

• Test the keywords

It’s always a good idea to test your selected keywords before finalising your list. Testing them originally will save you having to change your keywords at a later date if your keywords don’t end up ranking or helping your campaign.

• Find which Keywords rank well and which don’t

Testing your keywords will allow you to see which ones rank well and which don’t. You’ll also know which ones will drive conversions. This will help you to know which keywords are more valuable than others. It also allows you to stop focusing on keywords that aren’t benefiting your website, whether that be by driving traffic or gaining conversions.

• Run a sample test

Running a sample test will see if your list of keywords will actually get any traction. While this sounds risky, it’s better to find what keywords work at the start of your campaign, rather than changing your strategy after a year. Once the test has finished you will know which keywords result in conversions and which drive traffic. These are the keywords you can use on your final list.

Got any tips? Let us know in the comments.