How to do Budget Forecast Using Google Keyword Planner?

How to do Budget Forecast Using Google Keyword Planner?
September 7, 2019 MadMarTech

Google keyword planner not only helps you to find new keywords but is also a great budget forecast tool. The keyword planner is really powerful as it gives you a lot of data regarding your competition at a granular keyword level. It helps you automate by adding group ideas into a new ad group. With a roll-out of new features, you can now enter up to 10 seed ideas to generate new keyword ideas. In this blog post, you will learn how to use keyword planner at its full potential. Let us get started.

Accessing the Keyword Planner

Pretty straight forward, navigate to the tools and settings section. Under the “Planning” section click on keyword planner. As you can see there are 2 other tools available for the planning section: Performance planner and Ad Preview and Diagnosis. We will cover this in the future blog posts. Stay tuned. Now that you have chosen the keyword planner. This is how the interface looks like:

How to use Google Keyword Planner

Discover New Keywords

As we are doing a budget forecast, let us click on discover new keywords to get a clear picture. There are two ways of doing this:

  • Keywords: Enter up to 10 keywords and use your website as a filter. Or
  • Website/Webpage: Use a landing page to find keywords

While both the options are equally good, starting with keywords will give you the flexibility of using grouped ideas to ad groups for those grouped keywords. You could play around to explore the features.

Start with Keywords

Let us assume iLeather Inc is a company that sells leather cases for Apple devices. Let us enter a few seed ideas: you could enter up to 10 here. Brand ideas are excluded here as we do not want our keyword lists to populate with iPhone 8, X or other models. You could insert your landing page to filter our the irrelevant keywords about the products you do not offer.

building keyword list using keyword planner

Wow, now you have around 4K+ keywords with just 7 seed keywords. That’s amazing. Could it get any better? Well yes! Read below


Discover new keywords using google keyword planner


Grouped Ideas

In the above section, we mentioned that grouped ideas are awesome and it helps you get the best out of Google Keyword Planner tool. Just below the Keyword Ideas, click on grouped ideas.

As you might have guessed, in this tab you can find multiple grouped keyword ideas. If you have spendings, google gives you accurate data. However, this is an example using dummy account:

Using Google keyword planner to generate grouped keyword ideas

Choose the relevant keyword groups and add them to the plan. Google Ads automatically creates ad groups for each keyword group. You can them customise them with relevant ads and dedicated landing pages. Do not forget to choose the match type. After you are done with this, click on add keywords to get an estimate:

Getting budget estimate using google keyword planner

Once you click on get forecast, you could also add conversion rate of your website. This helps you to forecast the number of conversions as well.

Budget Forecast using Google keyword planner

Considering a conversion value of 100 EUR per premium leather case, Google ads forecasts that you would earn a revenue of 580 EUR with 69 EUR monthly budget on this campaign. So it is that easy to forecast a budget! Go ahead and experiment with multiple keywords, conversion rate, conversion value etc. to see the forecast variation. You can also see the forecast at the keyword level as well.

Google keyword planning tool