Within search terms (and generic domain names) the more generic the term is the more volume it has. The more specific it is the less volume, although more information, hence more value.
To illustrate what I mean, here’s an example from Overture Keyword Tool results, January 07 search data :
"REAL ESTATE" - 3057037
"NEW YORK REAL ESTATE" - 62397
"COMMERCIAL REAL ESTATE NEW YORK" - 75
"Real Estate" is a volume term, but do we know enough about the need of the person who types it? It would be a better search term if it was more specific, such as "New York Real Estate" and even better if it was "New York Commercial Real Estate".
But the question then is, when a user types "Real Estate" isn’t he looking for more specific results? Of course he is, he just doesn’t express himself as well as we wish he would. We know that by understanding how satisfied (or trained) searchers are with current results.
I see a future where we can understand what a user mean when he types "real estate". We will be able to break the generics into specifics with no effort, in real time.
By doing that we will shift the volume of generic terms into the POWER of specific terms, essentialy making almost every search a TARGETED SEARCH.
The reason today allot of generic search terms command high PPC bid prices is because the search volume/advertiser pressure. When that same search volume/pressure will shift to specific terms I expect traffic value to shoot through the roof. It won’t be of any surprise to me to see single domains make 100X of today’s revenues on a simple PPC type page with type-in traffic alone.
The question for me is not if, but when?
That’s a great piece of research you linked to. Do you think those users don’t express themselves clearly enough (just type ‘real estate’ instead of the more detailed query)becauce they are novice? Or maybe they are just lazy. Keyboards take work to enter things into. It would be terrific if the net ran on IPV6 and every user IP could be tracked back to a specific city block of geographical point.. and the routing table used to target ads to the neighborhood. Google should just buy all the Yellow pages advertisers for the database and then merge it with their platform.. better yet offer the yellow pages publishers a rev-share.
—-Answer—-
The way we search today isn’t natural. Search engines provide AVERAGE results for our request, while we think in PERSONAL terms, based on our experiences in life. This is ultimately the difference between your brain and a search engine.
Because search engines don’t have the DB you have in your brain you have to go through a discovery phase in order to find what you are looking for. That discovery phase isn’t natural as you now have to recall all sorts of information in order to find what you are looking for.
Think of it this way, if you think of the term “real estate’ you immediately take into consideration the beautiful house you saw yesterday around the corner, the article on emerging markets you read last week, or maybe the a mortgage you are in the process of getting, and so forth. The term “real estate” in your brain is much more complex then simply “real estate”. It has “legs”!
But in your brain, do you consciously remember all those legs? the answer is.. no.
These are all links and references built over a lifetime. The brain is truly the ultimate mainframe!
So the answer here current search methodology isn’t natural and search engines try to educate you how to search against your natural thinking process. Long term, it won’t last.
The answer to this is to create a LIFE DB ( this is just a start.. http://research.microsoft.com/adapt/sis/ ) and tap into it when user shows an interest. The biggest catch here is not to collect the information, but to use it while respecting user’s privacy completely. It sounds counter-intuitive and plan impossible (when explained what comes to mind is “mind reading technology)”? but as I discussed this with you privately at TRAFFIC Delray last year, it is possible and we’ve already solved it a while ago. We’re just too busy with other projects to put this in motion right now.