Hi all.. I have an issue here with my company website. I need to estimate budget for bidding campaign on Google Adwords for some particular keywords predefined. Does anyone know the best way to do this with the most precise or even accurate estimation? Here is an example: My website is about hotel business. I have predefined keywords of luxury hotel, exotic spas, romantic getaways and a few some. I did some research to discover some more derivative keywords which I would use to bid on Adwords. In google adwords panel we can see higher bid for each selected keyword. What I need to know is how to estimate a periodical budget (e.g. monthly) for those selected keywords? Is there any methodological approach to calculate the amount of money needed to spend? Is inside Google Adword that we can find a comprehensive estimation for this? If not, where and how? Please anyone tell me something about this. I would prefer if it's a simple or practical way. But, I don't mind if it's rather difficult as long as my above condition can be fulfilled. Suggestions please...
If I were you, I would just decide your monthy budget say £100 and do your best to try and spend it all. Set your daily budget, and do it that way, it's easier than trying to guess, you'll never do it. If your're doing auto bids it will change all the time anyway. Also I would hit some geographic keywords too say "hotel in London" you will probably get the best result off these. There is alot of competition for Hotel keywords so you might pay alot just to get your ads clicked, it's not easy! It all depends on how good your ads are too (quality score) which makes estimations even harder and you won't know how well each ad does until you run it, just try and be as accurate as possible with your keywords/landing page etc, you will probably pay less in the long run too... At the mo I run OK ads above the search results I have a CTR of 0.5% percent. Also a few of my best ad groups run around 1.20%. If you calculate the average (around 0.75%), you could probably work out the cost with the "first page bid estimate" and "keyword traffic estimate"..
I wud suggest u that just decide your daily budget and go bidding with selected keywords of your choice.