Keyword analysis is the process of evaluating search terms to determine which ones to target in your content and SEO strategy. If you want to master How to Analyze Keywords, the final output should not be a spreadsheet of search volumes—it should be a prioritized list of terms with a clear rationale for why each one is worth targeting, what page should host it, and in what order to tackle them. Anything short of that is data collection, not analysis.
The four dimensions that matter when evaluating any keyword are: search volume (how often it is searched), keyword difficulty (how competitive it is to rank for), search intent (what the searcher actually wants), and business value (what a ranking is worth to your specific business). Volume is the least important of the four. A keyword with 100 monthly searches and high commercial intent from your exact target customer is worth more than a keyword with 50,000 monthly searches from people who will never buy from you.
The 4 Dimensions of Keyword Analysis
| Dimension | What to Measure | Tool to Use | What It Tells You |
|---|---|---|---|
| Search Volume | Average monthly searches in your target market | Google Keyword Planner, Ahrefs, Semrush | Ceiling on potential traffic – not the decision-maker on its own |
| Keyword Difficulty (KD) | How hard it is to rank in top 10 for this term | Ahrefs KD, Semrush KD (scores differ – use one consistently) | Whether you can realistically compete given your current domain authority |
| Search Intent | What the user actually wants to do with this query | Manual SERP analysis – look at what ranks page 1 | What type of content to create; whether the keyword is commercial, informational, navigational, or transactional |
| Business Value | How valuable a ranking would be specifically for your business | Your own judgment + customer data + revenue attribution | Whether ranking traffic would convert to leads, sales, or subscribers |
Search Intent: The Most Important Factor
Search intent is the single biggest predictor of whether your page will rank – and whether it will convert if it does rank. Google’s primary goal is matching search results to what the searcher wants. If you create an informational article for a keyword where every top result is a product category page, you will not rank. If you create a product page for a keyword where every top result is a how-to guide, you will not rank either.
| Intent Type | What the User Wants | SERP Signals | Content to Create |
|---|---|---|---|
| Informational | To learn or understand something | Blog posts, guides, Wikipedia, FAQs | In-depth article, guide, explainer |
| Navigational | To find a specific website or page | Brand homepage, specific page | Do not target with SEO unless it is your own brand |
| Commercial Investigation | To compare options before deciding | Reviews, comparisons, ‘best X’ lists | Comparison page, buying guide, review |
| Transactional | To buy or complete an action right now | Product pages, signup pages, pricing pages | Product/service page with clear CTA |
| Local | To find something nearby | Google Maps pack, local business pages | Location page with local signals |
How to Build a Keyword List from Scratch
Step 1: Seed Keywords
Seed keywords are the broad terms that describe your product, service, or topic. A project management software company might start with: ‘project management,’ ‘task tracking,’ ‘team collaboration software,’ ‘Kanban board,’ ‘Agile project management.’ These are not necessarily the keywords you will target – they are starting points for expansion.
Step 2: Expand Using Multiple Methods
- Keyword tool suggestions: Enter each seed into Ahrefs Keywords Explorer or Semrush Keyword Magic Tool. Export all related and phrase-match keywords.
- Google autocomplete: Search each seed in Google and note the autocomplete suggestions – these reflect actual user search behaviour.
- People Also Ask (PAA) boxes: The questions in PAA boxes represent adjacent intents worth capturing with FAQ sections or separate articles.
- Related searches at the bottom of Google SERPs: Often uncovers lateral phrases keyword tools miss.
- Competitor keyword gaps: Enter your top 3 competitors into Ahrefs Site Explorer → Organic Keywords. Filter for keywords where they rank in the top 10 but you do not. These are immediate gap opportunities.
Step 3: Filter and Prioritise
The raw list from expansion is typically hundreds or thousands of terms. Apply these filters:
- Remove keywords with zero commercial relevance to your business – even if high volume.
- Flag the intent of each remaining keyword (informational, commercial, transactional) by manually reviewing the top 5 results for a sample.
- Score each keyword on volume (1-3), difficulty relative to your DA (1-3), and business value (1-3). Sum the scores. Highest totals get prioritised.
- Group related keywords by topic cluster – all keywords that should be served by the same page live in the same cluster.
Keyword Prioritisation Matrix
| Priority Tier | Volume | Difficulty | Business Value | Action |
|---|---|---|---|---|
| Tier 1 – Target now | Medium-High | Low-Medium | High | Create or optimise a dedicated page this month |
| Tier 2 – Build toward | Medium-High | Medium-High | High | Plan content; build links; target in 3-6 months |
| Tier 3 – Long tail wins | Low | Low | Medium-High | Add as FAQ sections, supporting pages, blog posts |
| Tier 4 – Monitor only | High | Very High | Medium | Track competitor movement; target when DA grows |
| Tier 5 – Deprioritise | Any | Any | Low | Remove from active tracking; revisit if strategy changes |
Tools Compared: What Each Does Best
| Tool | Best For | Data Quality | Price |
|---|---|---|---|
| Ahrefs | Competitor keyword gaps, backlink analysis, content gap | Excellent | From $129/mo |
| Semrush | Keyword tracking, PPC + SEO combined research, site audit | Excellent | From $139/mo |
| Google Keyword Planner | Volume estimates direct from Google (rough ranges) | Good (directional) | Free with Google Ads account |
| Ubersuggest (Neil Patel) | Budget option; decent for seed expansion and basic difficulty | Moderate | Free limited / $29/mo |
| Google Search Console | Understanding what you already rank for and at what CTR | Exact (your site only) | Free |
| AnswerThePublic | Question-based keyword discovery, content ideation | Good for intent research | Free limited / $99/mo |
When to Target Low-Volume Keywords
Low-volume keywords – typically under 100-500 monthly searches – are dismissed too quickly by teams optimising for reach. For businesses where each converted customer is worth hundreds or thousands of dollars, a keyword with 80 monthly searches but 15% conversion intent is more valuable than a keyword with 5,000 monthly searches and 0.1% conversion intent.
- Target low-volume, high-specificity keywords when your product or service is specialised and the searcher profile is exactly your buyer.
- Cluster many low-volume keywords on comprehensive pillar pages rather than building individual thin pages for each.
- Use low-difficulty, low-volume keywords to build topical authority in a new area – ranking for 30 adjacent low-competition terms signals to Google that you are an authority on the topic, which helps you rank for higher-volume terms over time.