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It'll give you no precise figures about how often a keyword is searched in Google. But it gives you an estimation about expected clicks per day.
Try to understand the relations between keywords and CPC ... modify CPC to see how expected clicks per day will change.
Hope that helps.
<edit>typo</edit>
Craig
If twice as many results come up for one keyword then it's a reasonable estimate that that keyword is twice as competitive.
Sorry, John but that's really not at all true in my experience. That's the whole reason why services like WordTracker exist. You can't determine anything about SEARCH frequency from how many time writers use a word on pages.
I sell theatre merchandise worldwide. Should the title of my homepage have theatre or theater in it?
Looking at the number of results for the two terms in Google will give an idea of the prevalence of UK and US spellers on the web. Add that info in as a minor consideration alongside things like 'who is the target market?', 'can I create both a theatre page and a theater page?' etc.
I've found it useful at times and a simple spelling change has sometimes had a big impact on my getting the targeted traffic.
Search for Googlefight on Google and I think you'll get what your after ;)
Craig, Googlefight only returns the number of webpages containing the search term, not the frequency of searches performed for that term. You will get the same result by searching for the term in a regular Google search. I think he is looking for search frequency similar to that provided by Wordtracker or Overture. On Google, the only means I know of is Adwords.
C
If you are trying to decide between the term
"penguin widgets" or "penguinized widgetcraft",
and overture says that the first term had 650 searches in the previous month, and the second had 14.... well you can multiply that number by 10, or 100 or a million for the google count but you still can see that "penguin widgets" is the most popular search.
On the other hand if all your competitors have optimized for "penguin widgets", you might be able to grab a nice piece of traffic by using a secondary term.
Google says they do 200 million searches per day.
Overture (according to SE Watch) does 167 million searches per day.
So use the Overture Search Suggestion Tool to see how many searches are performed on Overture for a particular term and add 20% to get your Google number.
That should be pretty close.
Actually, Google reports that it does 200 million searches per day for AdWords ads, but 250 million a day for regular search results that it serves up itself and also provides to Yahoo and others.
So, for your AdWords search terms, add 20% to Overture's Search Term Suggestion Tool numbers and add 50% for regular search results listings.
These are ballpark figures of course. And yes, this is all based on numbers that Google and Overture are providing, so they both may inflate their numbers for promotional purposes. But, maybe they both inflate at about the same rate, so Google may be 20% or 50% more than Overture, but actual number of searches for both may be lower.