3 Important Insights about the Most Expensive CPC Keywords
Ever wonder what keyword has the most expensive CPC and why? Believe it or not, keyword CPC cost is both industry- and location-specific. WebpageFX and SEMrush worked together to determine the most expensive keywords in Google Adwords. This infographic is incredibly educational for anyone interested in paid search. I highly recommend checking out the full graphic here. (I also highly recommend a rye old-fashioned, it’s the perfect fall cocktail.) After perusing the most expensive CPC keywords, there were 3 things that stood out to me the most. Check them out below:
1) Long-tail vs Broad Keywords
Competition is one factor that determines a keyword’s CPC. One would think the more long-tailed, specific and highly targeted the keyword, the cheaper it would be since people are less likely to search it.
According to this infographic and data from SEMrush, that is not always the case. WebpageFX states, “… a lot of these keywords don’t get much traffic — in fact, a lot only have 10 or fewer searches every month — but they’ll still cost you a pretty penny.” Even though these keywords are not searched often, they are still extremely expensive.
2) Location Keywords vs. General Keywords
Generally, the addition of location specific keywords to an account is done in the hopes of finding opportunities for higher-converting, cheaper clicks. A safe generalization to make is that the more targeted the keyword is, the cheaper the click.
However, this data suggests that this trend is different for local businesses or industries. Since lawyers can only practice where they are licensed to, it makes sense that they would only want to target those areas. Thus, location keywords are even more competitive and expensive.
A majority of the top ten keywords are location specific and more expensive then their general counterpart. For example, “San Antonio Car Wreck Attorney” costs $670.44 while “Accident and Injury Attorney” costs $326.76. The even more general “Car Wreck Attorney” search term didn’t even make the list.
3) Legal Specific Keywords
While I was aware that legal keywords were some of the most expensive keywords out there, I was not expecting 78% of this list to be comprised of lawyer and attorney keywords. However, why they are so expensive becomes immediately apparent.
First, a lot of people who are in need of legal services rely on research and the web for answers. Lawyers and legal firms are aware of this, so competition is extremely high for these search terms.
There is also a clear pattern in what kinds of cases are searched for most. WebpageFX suggests, “Lawyers stand to make a lot of money from settlements, lawsuits, and similar situations, it absolutely makes sense that they’re reaching out for lucrative cases. Car accidents, injuries, lawsuits, and settlements all mean high-profit margins for attorneys who land their clients.” Since these kinds of cases are of utmost importance to lawyers, of course they are going to want to bid on those longer-tailed keywords.
How Does This Data Help You?
If you are advertising in any of the industries that include some of the most expensive keywords and don’t have the budget to spend +$600 on 1 click, think outside the box.
One of our clients, a Chicago-area personal injury attorney looked to us to find an alternative way to find people who required their services without having to spend hundreds of dollars on one click.
After extensive keyword research, our paid search team found that we could target people who may not know that they need a lawyer yet. For example, we discovered that “I fell at work what do I do?” or “Neighbors dog bit me, can I sue” were valuable long-tailed keywords. These keywords may not have the volume as “workers comp lawyer” or “personal injury lawyer,” but we did successfully generate calls within our CPA goals.
Do you have tips on alternative ways to advertise for competitive services without splurging for expensive keywords? What’s your favorite fall drink? Email us at email@example.com or tweet us @Perfect_Search!
From WebpageFX infographic