Google AdWords New Keyword Planner: How & Why to Use for Domain Name Valuation
For many years, domain name investors have relied on the Google AdWords External Keyword Tool, fondly referred to as GAKT, for domain name valuation. This free tool has been an integral part of most domain buying & selling decisions and we discussed it and explained how to use it in a previous post. Last week, Google replaced this vital tool with the new “Keyword Planner.” Many people have been emailing us in a panic and wondering how to get this type of data now or inquiring if it’s still relevant. The answer is YES – it’s still very relevant, perhaps more than ever, and we will explain now how to find it and how to use the tool effectively.
In many ways, Google has made our job easier and reinforced many of the ideas we have promoted over the last few years. The information Google provides about exact search volume and advertiser cost per click help ascertain the value of the domain name. In essence this data helps to establish a measurable “demand” for any particular keyword(s). Investors choose to register, renew or purchase based on the latest user search volume. Small or medium sized businesses considering domain acquisitions need to know exactly what consumers are searching for in order to decide which domain is the best fit for them.
Owners and buyers alike need to know the advertising costs for those keywords to find out what those advertisers might pay for the traffic their domain name is generating or could potentially generate. Exact match domains add value to end users because consumers trust those domains more, they show clear user intent and increase conversions, causing more clicks and better organic SEO ranking.
While GAKP doesn’t have the same ring to it, the new Keyword Planner tool will assist in analyzing domain name values in the same essential way as the old tool did. It’s true that there are a few extra clicks/steps – which, when combined, may add up to carpal tunnel for us power users.
However, there’s one significant place where there are less clicks: getting the exact search results. I find it telling that Google now defaults to ONLY exact search results in this area – no more broad search or phrase search – just exact match. This will eliminate one of the biggest problems we see among domain investors who confuse the all important exact match search volume of a domain name or keyword with broad search which includes similar & related phrases and keywords .
Integral to proper domain name valuation, the number of exact searches each month reflects the total potential organic search market for the domain name. Further affecting the value, cost per click reflects how much advertisers are paying for those exact keywords, not other similar keywords.
Here’s the step by step to utilizing this tool today:
- Start at the Keyword Planner Home Page
- Search for keyword and ad group ideas
- Enter your keywords under the green “Search for Keyword and Ad Group Ideas” and in the “Your product or service” box.
** 4. Scroll down and click “Get Ideas”** ** 5. Click on keyword tab – (by default results show under ad group idea tab)** ** 6. Check on the left if your results are filtered in a way you don’t want. For example, make sure it’s not only showing results for USA.**