Inventive Millionaire

Ok so I mentioned before in my blog that KEI is misleading so I have developed my own version.

1. Keyword research, you get all the words that relate to the product/service
2. You find out search volumes of all the keywords
3. You do a search on Google for allintitle:[keyword] to find out how many people are actually competing with you, alternatively you can use allinurl or allinanchor, if you have time its best to get all three and then take the minimum number of all three as your competition.
4. You qualify each keyword according to one of the following:
   1. Suspect – its related to your keyword, but they may not need your service/product
   2. Prospect – they have a need for your service/product but they may not be looking for it
   3. Lead – they are actively looking for your service/product
5. I then apply an estimated conversion rate to each of these, in my example I gave Leads 2.5% (1 in 40), Prospect 0.25% (1 in 400) and Suspects 0.025% (1 in 4000).
6. In my case my product is only good for one year, so I took the average monthly search volume for each keyword and multiplied this by 12 to give my yearly search volume. I then divided this by the number of competitors for the keyword, this gives me the amount of visitors I could possibly expect to get, I then took this number and multiplied it by the estimated conversion rate for that keyword, then finally multiplied this by the gross profit I expect to earn for each sale. This finally gives me the overall value of the keyword

The are limitations to this method however:

• It assumes you will get an equal share of the search volume as the competitors (this might workout ok as you will got more in some cases and less in others)
• It assumes you can beat all those not pursuing SEO for those keywords (which you should be able to)
• It makes estimates at your conversion rate which may be wrong (I will let you know what my actual conversion rates where for each keyword in the future)
• It assumes the search volume of each keyword will carry on as it has in the past.
• It assumes that competition will not change, in my case, since the game is unreleased, most of the competition is zero! But in a few months time I expect it to be at least 100, so this is the figure I have used in this case.

Based on my research and my SEO plan I should in theory make just under £10,000 from my blog selling my own book, that means it should help me sell at least 2,000 copies.

So anyways, the formula I recommend (although I’m sure I’ll change this in a month) is:

Keyword Value = SV * 6 / min(CT,CL,CU) * CR * GE

Where:

SV = avg monthly sales volume

CT = allintitle:[keyword]

CL = allinanchor[:keyword]

CU = allinanchor[:keyword]

CR = Estimated Conversion Rate

GE = Gross Earnings

I wouldn’t recommend spending time on any keywords worth less than £10.

We’ll see how it works out…