My Approach to Keyword Research in 2023
In, How The Role of Keywords Has Changed In 2023, I explain that the function of keywords in Google Ads is different today than it was even just a few years ago. If you’ve never heard of remarketing, competitor website visitors, or Performance Max signals, it could be a valuable read.
The short version though, is that in today’s Google Ads, targeting is less about the keyword being searched and more about the user searching it.
Google’s algorithm can predict commercial intent much better than anyone thinking about the meaning behind a particular search. For that reason, it’s best to build a strategy that equips the algorithm with all of the inputs it needs to be successful, as opposed to limiting it through a restrictive, manual strategy.
That being said, keywords are still one of the most, if not the most, important inputs we can feed Google’s algorithm. Starting with a solid foundation of high-performing keywords is still essential to running a successful campaign.
In this article, I’ll walk through my approach to keyword research. It’s a blend of best practices and things I’ve learned from my experience in SEO and market research. Not everything will be new or original, but hopefully, you can take something away from my process, and add it to your own.
How I Do Keyword Research
To me, keyword research is as much about understanding a business’s position in the market, as it is about search volume and cost per click.
It’s a back-and-forth between what is this business’s competitive advantage? How does its web presence portray it to potential customers? Where is it weak?
And..
What queries can we target to highlight those advantages? Which queries should be excluded to avoid competing where we’re weak? At the price of these keywords, does it make sense to bid on them?
Namely, my research process consists of finding the answers to those questions by getting as much insight as possible into the areas below.
Market Competitiveness —> How expensive is it to advertise in this business’s industry?
This research helps determine whether or not it makes sense to go head-to-head with the current leaders, or if we’ll need to look into alternative angles to be successful.
E.g., if a common and general industry keyword costs $10 per click, and the business sells a $900 product at a 50% margin.. it probably doesn’t make sense to bid on it. This is because, assuming a 2% conversion rate, the business is going to get $900 in revenue for every 100 clicks.. yet they’re going to $1,000 to get those clicks, in other words, it’s a $100 loss. For situations like this, it may make sense to look into alternative, less-competitive angles.
Consumer Preferences —> What do consumers in this market value?
I lean on Reddit and customer reviews to discover the things consumers really value.
If my client sells high-end cameras, I will search something like “best high-end cameras Reddit” and scan every Reddit thread I can find to see what types of things consumers care about when looking for a high-end camera. Specifically, I’m looking for things that align with the client’s advantages.
I’ll also look at competitor reviews to see where the competition is weak.
E.g., if the competitor is winning on price, but a number of reviews mention its low quality, I’m immediately looking for searches like “premium product,” “high-quality product,” “most reliable product,” etc., and then I’m emphasizing these attributes relative to alternative options in the ad copy.
Current Momentum —> What organic search queries are bringing in traffic for this business?
I’ll look to see if there is one (or a couple of) product categories/features/topic/etc., that bring in a lion’s share of the traffic to your site. If a business has already ‘caught fire,’ in a certain area, I want to squeeze as much value as possible out of that momentum. Maximizing momentum could mean bidding on the exact queries bringing in organic traffic, or adding keywords to capture traffic from tangentially-related queries.
Note: By bidding on terms, a business shows up in the paid ads section of the search results as well as in the organic section. Many business owners worry that bidding on these keywords will cannibalize traffic that they were already getting for free, but the two listings actually work together to create a ‘1 + 1 = 3’ effect. Essentially, showing up in both sections maximizes the value the searches can provide.
Aside from targeting, I’ve found that looking at the organic side of things is a great way to discover potentially lucrative marketing assets that a business may have in its arsenal. For example, I found a video clip of one of my clients pitching their business on Shark Tank. We clipped the video and showed it via Youtube ads; it’s been a powerful touchpoint in their campaigns ever since.
Queries that align with this business’s advantages —> Why would consumers pick this product/service?
I included this section, but it’s more of a ‘keyword discovery’ than ‘keyword research’ because I’ll usually get these insights from the business owner/marketing team. I’ll ask them things like
What does this business’s customer avatar look like? Who are they targeting?
What features/qualities does this business do you win on (can look to their site to see what they highlight)? What features/qualities of this business do customers tend to talk about (can come from customer reviews)?
Any Other Possible Alternative Angles to Test —> What angles are competitors neglecting?
After looking at a business’s organic traffic, its competitor’s organic and paid traffic, customer reviews, and conversations between consumers taking place on Reddit, I’ll take a step back and try to identify gaps.
E.g., I have a client that produces networking hardware and I was able to learn through Reddit that consumers in this market really value high-quality support. Many of the leaders in the industry skimp on support to cut costs, but my client excels in this area. This opened the door to queries that referenced support, reliability, ease of use, easy setup, etc.
The First Round of Keyword Research Is Just That, The First Round.
When I’m working on a campaign, I put the work in upfront to target the keywords that I think will give the campaign the best chance of success from the beginning.
The ‘magic’ happens, however, in the few weeks that follow a campaign’s launch.
Once the data starts flowing in, I start adding negative keywords - keywords I’m telling Google NOT to target, I get rid of keywords that aren’t converting, I try adding related queries for keywords that are performing well, etc.
The optimization process accounts for as much of the campaign’s success as the initial plan. Until the campaign hits the market, it’s all still theory, there’s no substitute for flexibility and adjustments after the campaign is live.
