Are Keyword Research and Market Research the Same thing?
If you have been marketing online for any length of time, I am sure you have heard the term search engine keyword research or have been prompted to buy all sorts of key word tools.
A few weeks ago one of my subscribers emailed me with this burning question;
“Are keyword research and market research the same and if not, what’s the difference?”
Great question, thanks to my subscriber I realized most people will benefit from this explanation, and that the lines of research are not as clear as I envisioned.
The short answer is that keyword research and market research are closely intertwined:
Keyword research is an integral part of market research, Keyword research is all about the language people are using in this market
Understanding the Market
Getting targeted to find a subset of your market that is relevant to your product or service is essential.
You want to target people that are potentially interested in what you have to offer.
You are identifying your niche
Wiki defines niche research as: “the subset of the market on which a specific product is focusing; therefore the market niche defines the specific product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact.”
In other words, a niche market is a subset of the larger market and is focused around a suite of problems, products, organizations, hobbies or solutions. So for example, a market could be health and a niche could be diabetes. Sometimes you can drill down even farther – for example – child diabetes.
Every Niche Has a Special Language – Niche Keyword Terms
Niche markets are usually characterized by specific language terms and acronyms (aka keywords) that are unique to that specific niche. We must identify these terms and use them in our material as well as target people using this language. For example in the world of internet marketing some niche terms may be; blogging, PPC, increase conversions, keyword research etc’
Niche Demographics Affect Keyword Phrases
Demographics are ultra important. Knowing the age and gender of your target market will affect everything from your keyword selection, site graphics and content. Demographic research is a basic part of market research.
Sometimes you may have a split demographic in the same niche. Here is an interesting example: The learn hypnosis niche is split into two demographics – younger more interested in seduction and influence and the more mature crowd more interested in self hypnosis and NLP. These demographics use different language and browsing patterns online.
The only way to find this out is by market research. In essence I would now define these as two separate niches.
Identify Language Patterns and Keyword Opportunities Unique to your Niche
Researching your market to identify the different language patterns and keyword opportunities unique to that market, and then you will research the market (aka the competition) for these keywords to understand what kind of content and marketing messages you should go after.
The goal is to find relevant keywords that have good commercial value and traffic. Invest most of your time in investigating the competition for these keywords and delving deeper into the market language.
Sometimes you will find longer search terms that attract a smaller number of browsers but is very targeted to your offer. These keywords are called “long tail keywords” and should not be overlooked.
A Quick Look into Competitive Market Research
Get to know your competition by checking out the websites that rank on the first page of Google for each keyword you are considering. How much authority does the site have, what marketing methods are they using? What keywords are they targeting? How many back links do they have?
You might utilize sites like Alexa.com, Quantcast.com and Compete.com to understand how much traffic a website gets and what type of people visit a specific website you can use.
Other sites like the External Google Keyword tool provides you with competitive data on Advertising for keywords.
Google Insights for Search is a powerful tool that allows you to compare search volume pattern distribution across specific regions, categories, and time frames. With it you can identify current and upcoming search trends, measure your marketing campaign’s impact, identify and compare with brands that are competing with your products, and create relevant advertising messages that will benefit you and your business.
Key Word Tools
There are two basic types of search engine key word research tools: key word tools that charge a small monthly fee for access and provide a database of searches and data outside of Google or enhanced results from Google and other sources. Popular choices are Wordtracker, SEM Rush and many more.
There are also keyword research tool suites like Market Samurai – that can save you time by providing various must elements of keyword research elements in the same place including, identifying keywords, researching keyword competition, finding the top ranking sites on Google, estimating the CPC and a central place for you to check your rankings for a specific keyword.
I like Market Samurai as it is a one time purchase. However from time to time it pays to subscribe to a paid Keyword tool platform to enhance your research. Most offer a free trial period for you to try out the tool and see whether it is a good fit for you.
There are many more Market and Keyword research solutions. It is mainly about finding a tool you can work with easily and saves you the most time
There is much more that goes into effective keyword research, this is just the tip of the iceberg.
Ultimately you need to come up with a keyword strategy for your Website Promotion Campaign.
Remember! Much like people some keywords only look good on paper. You will need to test your keyword to establish whether it is a good match for your business.
Market research and keyword research are closely related. You will continue to research your market as you market. You will need to revisit your keyword research every couple of months. Markets evolve, keywords change and new movers and shakers can appear and disappear.
Questions or comments? Please share them below!