Posted by Maren Wesley, Associate Account Manager
Continually expanding your paid search keyword list helps to (1) drive incremental sales by cost-effectively increasing keyword coverage to reach new qualified searchers and (2) lower CPCs by becoming less reliant on broad match keywords. With broad match, ads are run on relevant variations of your keywords (synonyms, phrases containing your keyword) even if these terms aren't in your keyword lists. Broad matching can cause high CPCs.
There are several different tools to explore keyword expansion opportunities in order to gain more visibility on the SERP, engage qualified prospects and be less reliant on broad matching. Keyword expansion resources include the Google Keyword Tool and Search-based Keyword Tool, Google Search Query Report, Hitwise keyword expansion reports, your on-site search data and your Web site traffic data. Specific attention should be paid to building out keywords that searchers would be likely to use as they enter further into the conversion/purchase funnel for your products.
At Performics, we have used these tools to discover new keywords that have driven hundreds of thousands of dollars in incremental revenue for our clients. In addition, we have seen the average cost-per-click (CPC) on exact or phrase match for new keywords added to a program to be greater than 50% lower than a campaign’s broad match keywords. So remember to always be on the look-out for new keyword opportunities.