MAKING KEYWORD (MARKET SIZE) DISCOVERY EASY, QUICK & PROFITABLE
How big is the market I am targeting?
Keyword Market size can be accurately estimated with realistic figures. We show you how. Big markets offer big opportunities. Smaller markets generally offer less competition.
In either case it is important to know as much as possible about the market you intend to operate in. Thus we need to discover how popular all those keywords weve collected are this is the best indication well get of market size.
I know only one way of estimating market size for any product or service on the Internet. Quite simply I need to find out how many people are looking for that product or service every day. But thats impossible isnt it? No, but it is necessary to have access to all the results of the search engine queries used every day. If you cannot get this then you need the next best thing which is an estimate of the number of daily search engine queries for every search engine keyword.
There is a most marvelous bit of Internet software run by an UK company. Unless you have been involved in search engine techniques and optimization projects you would have difficulty finding it and you have probably never heard of it. The site is devoted to keyword analysis in total. The software is called Wordtracker. Here is a screen shot of the options page:
Wordtracker captures search engine queries spotted by two meta crawlers every day. It keeps the results for the last 60 days inside its own large database (contains 373,000,000 entries at June 2005). Using accurate mathematical predictions the program is then able to provide a reliable estimate of how many times that query will be entered on all the various search engines every day. Isnt this just what we are looking for? It is of course. This is how popularity or market size is determined.
THIS IS HOW WE ASSESS IF THE MARKET IS BIG OR SMALL FOR OUR KEYWORD.
Wordtracker also makes available at all times the most popular keywords used on the Internet every day. As I write this heres the top 30 searched for terms (this list exclude adult words).
Imagine if you could design a great website about Carmen Electra (not recommended since you’ll almost certainly cannot compete effectively in areas like this) as the important keyword and imagine if you could occupy number 1 spot on Googles first page. You would get a heck of a lot of traffic to your web page. Others would love to advertise on your page then and pay you for the privilege.
Lets take a breath at this stage and review what we know and hopefully agree on:
- Keyword selection is critically important
- We need to find lots of relevant keywords
- Single words are generally poor keywords to use
- How to assess if there is a lot of competition for our selected keywords
- We now know how to determine popularity or market size if we prefer
- That by combining popularity with competition we can select the very best keywords
- This can be a heck of a lot of work
- We have found a wonderful tool called Wordtracker that can do almost all of the above work for us albeit at a cost
EXACTLY WHAT CAN I DO WITH WORDTRACKER SOFTWARE?
Wordtracker is not free but it is not very expensive and you cannot buy it outright. You can hire it for a week, even a day at a time. There is a free trial with limited capability but worth getting. If you really are serious and want to benefit buy 1 week minimum. Youll probably graduate to full time use if youre like us.
Internet failure is much more expensive than using Wordtracker. I am a Wordtracker convert.
A question you should always ask a potential web designer is do you use Wordtracker? If the designer is unsure then do re-consider his usefulness to your marketing effort. At the very least your designer should be prepared to learn basic SEO techniques and use the best tools available. Wordtracker is undoubtedly the best.
By the way this is a unique program. There is no competition for Wordtracker worth talking about. Overture (now Yahoo) and other pay per click programs do have a keyword assistance page that is useful to a beginner but I am talking in this book to serious users who need to get on the right path immediately. The Overture tool is based upon their search engine only and does not give any indication of competition. Nor does it distinguish between single and plural. It is much better to use the Wordtracker free trial although Overture search is certainly not a waste of time it can be very useful.
Many companies offer keyword tools with most being based on the Overture database.
I shudder to think what grave errors and wasted time and money I would have made in my project had I not discovered Wordtracker and learned how to use it well.
DISCOVER AS MANY KEYWORDS AS YOU LIKE
Wordtracker as a program is split into various parts. The first part allows you to build as long a list of meaningful keywords as you like. The starting point for example would be ponds.
I type ponds intoz the relevant section of Wordtracker. After a few seconds it gives me 300 possible keyword/keyphrase options to consider for this single word. Here are a few examples that I actually used.
- Water garden ponds
- Indoor ponds
- Pond pumps
To press home the importance of this program I would like to use backyard ponds as the example. In my own country we hardly ever talk about backyards (backgardens yes but not backyards) let alone backyard ponds. On the other hand the American public use this word a great deal. By not recognizing the importance of this word I would have missed out a large chunk of targeted web searchers. Every day 111 people search for backyard ponds. Every day 52 people search for backyard waterfalls and so on.
When I had got enough synonyms for ponds I moved onto waterfalls and then pumps and then fountains and so on until I had amassed a great number of potential keywords.
I saved the ones I believed to have genuine relevance to my project for the next step.
This discovery feature alone makes Wordtracker worth every cent. But the best is still to come.
RANK THE POPULARITY OF EACH KEYWORD
Wordtracker indicates market size or keyword popularity. All I have to do is tell it to review my saved list of keywords. Lo and behold seconds later it tells me that in the last 60 days X people searched their database for that particular keyword and on that basis it could be confidently expected that across all search engines Y numbers of people were typing the keyword into one or other search engine every day on average. It is assumed this will continue until changed by the next set of Wordtracker analyses which are done every day. For seasonal businesses the change can be dramatic. For example when I rechecked all my keywords when summer in the Northern hemisphere was over the rate of search for some words had fallen dramatically. Seasonal behavior by searchers is just another reason why search engine optimization work never stops.
Now this is exciting stuff. Cant you see the possibilities of this? Imagine what you (and precious few others) can now do.
You have probably realized this but let me emphasize it. If your keyword is garden ponds then this keyword also covers anyone searching for just the word ponds or just the word garden and it is possible that you will pick up potential customers who are using these basic keywords only.
COMPARE MARKET SIZE WITH AMOUNT OF COMPETITION USING KEI
KEI is the next helpful part of Wordtracker.
Not only does Wordtracker identify popularity for you but it saves you hours of work by combining the competition for the same keyword in different search engine databases for you at the same time.
KEI is a phrase coined by Sumantra Roy a well known SEO (search engine optimizer) and used by Wordtracker. It means Keyword Effectiveness Indicator and is the result of mathematically combining popularity with competition to give an overall impression of the relative importance of the different keywords. For example is it better to focus on higher popularity and higher competition or lower popularity and lower competition?
KEI assists you to understand this. Beware however in using this as an absolute measure. Here is where your own knowledge and feeling must also play a role. Do you want volume or quality? and you can also try for both. When you have experience of web keyword design and success you can manipulate KEI to assist you in keyword choice.
THIS IS WHAT WORDTRACKER DOES FOR YOU
Wordtracker quite simply takes a great deal of guesswork and slog out of Internet market research. It is a major secret to becoming successful on the Internet. It is the only true and quick way to make meaningful Internet market research conclusions. Let me summarize:
> Wordtracker does a better job of identifying relevant keywords or market niches than youll ever do without it
> Wordtracker saves you dramatic amounts of time
> Wordtracker deters you from heading in the wrong direction and creates the information that will allow you to correctly structure your web design.
> Wordtracker indicates the on-line market size of any market niche you choose
> Wordtracker identifies weaknesses in the competition by providing a correlation between popularity (market size) and level of competition
> Wordtracker allows you to discover semantically related search terms that would not be obvious to you you may not yet appreciate this but this is one of the most powerful uses of Wordtracker.
If you want to sort out good designers from bad ask one simple question ask the designer how often he uses Wordtracker. Most will never have heard of it never mind use it on an ongoing basis.
To the best of my knowledge Wordtracker is the single most important software tool any web designer can have in his possession. Use it properly and you can guarantee yourself some number 1 positions on Googles first page of SERPs. You will find it relatively easy to get on the first 3 pages somewhere. No. 1 is always tough for competitive phrases and so dont fret too much about these. Find the less competitive niches and fully exploit them.
Whether you use Wordtracker or not you need to organize your keywords using a spreadsheet. Wordtracker allows you to export direct to Excel.
The table below is an extract from a Wordtracker search for the keyword garden pond:
The column predict refers to a forecasted estimate based upon the past 60 days actual data of the number of daily searches for that particular exact term (by exact is meant searching using inverted commas around the term in the search box see image below).
Exact search uses inverted commas…
So for garden ponds its forecasted that 170 daily searches will occur in total on all major search engines over next number of days.
Now Wordtracker always presents you with great clues on where to find other relevant keywords. Take a look a bit further down the table and you’ll see that water garden pond supplies is going to be searched for 63 times per day. If you sell pond supplies you would be interested in finding out more so lets do a search for pond supplies as shown below:
You might now decide to drill down on the market niche for koi pond. Heres the result:
Immediately you can see that koi pond filters are frequently looked for. What about other pond filters? Wordtracker has the answer by the way note difference between pond filter and pond filters in plural form. More people search for pond filters.
Wordtracker has shown you the size of each market niche in the various tables. By allowing Wordtracker to take you to the next stage it will relate the competition to the market niche size. If we do this for the pond filter search we get this collective and comprehensive information for Google search engine only shown below (you can do this same search on Wordtracker for a range of search engines and not just Google)…
This table shows how many web pages in the Google index will be returned for the exact search (i.e. inverted commas) for each phrase. Take a look at the phrase build your own biological pond filter there is NO competition and to prove this take a look at this picture below…
What this means in practice is that if you build a simple web page about how to build your own biological pond filter in the way we advocate and as you’ll see later you’ll probably be number 1 page 1 on Google and if you take a look at Yahoo you’ll certainly be on the first page too.
This article is not about how to use Wordtracker this is the subject of a complete book in its own right. You are encouraged to explore this software in depth and youll soon realize how indispensable it truly is.
Its worth repeating youll improve your SEO success rate by factors of hundreds by using Wordtracker.
At this stage using our own brains, magazine research and Wordtracker we have a long list of targeted keywords representing a wide range of related market niches. Wordtracker has also allowed us to prioritize in terms of market size, market competitiveness or a middle ground between the two (assisted by the KEI calculation). We have kept all these keywords in a spreadsheet so that they can be sorted, shuffled into relevant sub-categories and organized to our hearts content. Were now in a position to think of starting a website and picking a domain name.