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How to find out how many potential buyers there are for your product

People find what they are looking to buy by typing a search term in Google. It might be ‘dog collars’ or ‘Lamborghini cars’, ‘football jumpers’ or ‘antique ice skates’. Terms which are broad such as dog collars or football jumpers are what is called generic search terms or keywords and those that are qualified, such as Lamborghini Cars and antique ice skates are what is called niche search terms or keywords.

There’s an online tool https://adwords.google.com/select/KeywordToolExternal which is very useful. It will tell you the following:

-How many people monthly are searching for specific search term.
-The approximate cost of having an adword ad on Google page 1.

The tool can be adjusted in the following ways to give the data you need

1. On the left above the inquiry field to be filled in is a blue EDIT button. When
    you click it a list of countries comes up. Click on Australia and you will get
    results specific to Australia.

2. In the appropriate box, type in the search term you’re interested in. Then type
    in the control code that appears and finally press FIND KEYWORDS. The
    programme will think for a minute then produce a long list of keywords
    with the one you typed in and variants on it. Beside each word will be various
    columns. The one you pay attention to is LOCAL SEARCH VOLUME.

3. Once the results come up you can pay attention to how they are displayed.

a) Make sure the CPC (Cost Per Click) will be displayed in AUD. See appropriate box on left hand side above results.

b) On the right hand side there is a box headed CHOOSE COLUMNS TO BE DISPLAYED. From the options choose SHOW ESTIMATED AVG CPC. This will show the cost of purchasing an Adwords ad for your search term.

c) On the far right above the results is a box headed MATCH TYPE. Choose EXACT. This means the results you get will be for when people type in that exact search term, which is the most useful number for your calculations.