Google’s New PPC Keyword Tool

The tool helps AdWords advertisers identify new keyword opportunities that aren’t currently being used in their AdWords ad campaigns.

Based on the URL and initial keywords you enter, the Search-Based Keyword Tool generates keyword and landing page ideas that are relevant and specific to your website. I’ve only been playing around with it for a few days, but it’s already helped me pinpoint some keywords I’ve been overlooking in our PPC campaigns.
Two lists of keywords are generated when you enter your details. The first one is a list of keywords related to your page, meaning keywords that Google has extracted from your page copy. The second list relates to the specific search words and phrases that you entered in the search field.

For each list, the tool displays the following:

The average amount of traffic a search term receives each month on Google.com (and other Google search properties, such as google.co.uk)

The approximate amount of competition you face for ad placement on these queries
A suggested bid amount for the keyword/s that may place your ad in the top three spots of the page

The frequency with which an ad for your website appeared for a given query
The frequency with which your ad appeared in the first page of search results for a given query

The page on your website that best matched the keyword suggestion (if applicable)
The tool is better than prior versions of both the Yahoo Keyword Selector Tool and the Google AdWords Keyword Tool, for two major reasons:

1) The bid suggestions give you an instant ballpark cost of adding keywords to your campaign based on actual competitor bids and you can pick, choose and export the ones you like into an Excel spreadsheet from the main report area. This time-saving functionality has been sorely missing from other PPC keyword tools.

2) By displaying the pages on your site that best match the search queries, the tool helps you choose the best landing pages for your ads without tiresome allocation by hand.