E139: Why Keyword Research Is SO Important

If you’ve been following along, you know I’ve been building B2B SaaS tools for podcasting agencies.  I’m now researching other industries which just so happens to include legal.  Based on my research, there is a BIG difference in the keyword research data comparing those two industries.  Let’s talk about why this is such important information for you to know BEFORE you consider building.

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Episode Transcript
 Hey folks, Sean here, and today what I want to talk to you about is why something like keyword research before you go too deep or at least down the path of potentially building your B2B SaaS is so important. Now, we all need a channel in order to determine whether or not we can drive traffic to our landing pages.

We can convert prospects into paying customers. That’s critically important for us to be able to grow successfully our B2B SaaS product and business. Now, one of the ways that I’ve been leaning into pretty aggressively is keyword research and Google search ads. I’ve been able to use that to validate whether or not the B2B SaaS concepts that I’m considering pursuing have strong enough value propositions to succeed at scale, and it’s worked very well thus far.

Now, the reason why I’m mentioning that the keyword research before you go too far down that road for whatever problem you may wanna solve with the SaaS product. Is so important cuz if that’s gonna be one of your primary channels, that’s gonna be a really effective way for you to determine how cost effectively you can perform.

Essentially that test, as in how cost effectively does that channel perform, the ability to convert prospects into paying customers and et cetera. Now, the reason why I mentioned this is I’m evaluating bringing another B2B SaaS product to market, and this one would be for the legal industry at the moment.

Now, one huge difference between what I’ve been working on, which is podcasting tools versus potentially solving a problem in the legal industry is the keyword research, the PPC range for what you might pay for your traffic based on key phrases and words. It’s significantly higher for the legal industry than it is for someone who has interest in podcasting.

I’m talking about an a magnitude of a hundred x as in, you know, it might be a couple of dollars per click for something related to podcasting, but it may be over a hundred dollars, sometimes up to $200 per click in the legal industry, which is a pretty dramatic change. So now, whereas the tools in the legal industry oftentimes are more expensive, You know, depending on where you’re getting started, if you’re trying to validate a concept using Google search ads and expecting to leverage advertisement, at least Google search advertisement, in order to be able to do that, you’re gonna have to have a ridiculous amount of budget available in order to generate that traffic.

So that’s another reason why I say it’s so important to perform this research upfront because it really starts to get. Take shape, uh, at least in terms of what the financial perspective might look like in terms of you trying to build a business that specifically solves whatever problem you’re considering.

So perform it either way, whether or not you’re planning on using it, because it’s good insight into what your economics ultimately might be in order to be able to compete in that industry.