The potential for market and demand analysis on the web, based on keyword analysis, is unlimited. Users enter keywords or key phrases, when searching on the Web. Over 80% of all on-line transactions begin with a keyword search. Keywords represent the link between User interest and web page content. This querying activity is logged by the search engine operators and can be used to analyse the demand (in other words the popularity) of each keyword as well as relevant trends. On the other hand, businesses are in search of the appropriate terms (or keywords) that will optimally support their internet marketing strategy. The ‘web intelligent’ businesses aim to discover niche markets, which are poorly covered on the web, in order to increase incoming web traffic and visitor conversion rates. The keyword analysis can yield valuable insight on:
* Web Consumer interest and how it is expressed. The analysis may lead to a general market principle: Consumers are often in search of solutions to a problem or need, than in search of a product or product type.
* Highly popular keywords or key phrases (which are in high demand on the search engines). The popularity of all keywords can be evaluated.
* Alternative or complementary terms which are contextually related and are used in search engines.
* Multi-word (3 or 4 word) phrases used, for which a relationship to the product marketed can be found. According to recent reports, four-word keywords in search engines present higher conversion rates than keywords based on less words – this is a natural conclusion since these Users search something very specific and are ready to purchase when they find it.
* Keyword phrases which are requested but are poorly covered by existing web pages. In other words, identify niche markets with low level of ‘search engine competition’ on the web. Popular keywords with low competition can be identified by using the Keyword Effectiveness Index (KEI). Sumantra Roy’s KEI is a measure of how effective a keyword may be. The KEI compares the number of times a keyword has been used with the number of competing web pages. Key phrases with high KEI represent opportunities. If these phrases can be associated with the value proposition of the Business, then they can be used in an appropriate web page context. KEI helps identify keywords or key phrases that could be most effective for an internet marketing strategy.
A keyword analysis task may involve the following:
* Identify a set of keywords which are related to the product portfolio offered and are currently used or planned to be used in the web pages. This set of keywords shall be further analyzed.
* Use a keyword analysis tool to identify an enriched set of keywords, which are related to the initial set. Evaluate each term in the enriched set, vis-Ã -vis its potential to produce traffic (e.g. the KEI).
* Analyse multi-word phrases which appear to have a high KEI. Evaluate the potential to associate these phrases with the value proposition of the Business. Evaluate the sales potential of multi-word phrases, by taking into account the increased expected conversion rate.
* Select a subset of the enriched set of keywords, which best fits the internet marketing strategy to be followed.
Based on keyword analysis, a business can design or redesign its web pages and position its product offering, to effectively pull demand on the identified low competition niche markets. Businesses can achieve differentiated positioning based on key phrases with high KEI. Some of the high KEI keywords may be generating lower traffic than others, but also having higher conversion potential, which renders them more attractive than the highly popular single word keywords with extremely high competition and/or low conversion rates. Moreover, businesses can try to optimise the Keyword Density on their web pages. Keyword density does affect the page's ranking on search engine result pages. This analysis can be performed with a keyword density tool. I cannot think of any conventional mode of market and demand analysis, that can match the web keyword analysis potential. The timely access to very detailed demand and supply data on the web, is unparalleled. Copyright 2006 – Kostis Panayotakis
Material relevant to keyword analysis tools, can be found at
http://www.pleroforea.com
