We all know that it's ridiculously expensive to live on the Palm… Why? Because it's an amazing place to live.
Well, it can also be staggeringly expensive if you want to target certain keywords using AdWords, Google's pay-per-click (PPC) advertising platform.
Why? Because certain keywords are super valuable.
What is the Google AdWords equivalent of The Palm?
If you want to target these insanely competitive keywords, it will cost you a whopping $58.64, on average.
Let's say an advertiser get 100 clicks on that ad per day. That advertiser will pay about:
$6,000 per day.
$180,000 per month.
$2.2 million per year.
Google shows up to seven AdWords PPC ads per page. So multiply those numbers by seven -- just for Page 1 of Google's results.
This is how Google raked in more than $79 billion in advertising revenue last year. But "Business Services" isn't the only expensive keyword on Google.
The 10 most expensive Google keywords:
- Business Services: $58.64
- Bail Bonds: $58.48
- Casino: $55.48
- Lawyer: $54.86
- Asset Management: $49.86
- Insurance: $48.41
- Cash Services & Payday Loans: $48.18
- Cleanup & Restoration Services: $47.61
- Degree: $47.36
- Medical Coding Services: $46.84
What does it all mean?
While the most expensive keywords -- and the amount advertisers are charged per click -- generally get all the attention, it's important to remember that it's not really the cost per click that matters, per se.
Rather, the cost per conversion is most important.
Remember not all advertisers pay these prices -- some pay even more than this. But smart advertisers are paying much less because they have learned to optimize for clicks and conversions (which is basically the same thing, anyway).