Yale University Keyword Modeling Study

Oliver J. Ruiz, Assistant Professor of Marketing at Yale School of Management authored this keyword modeling study. Professor Ruiz uses and hotel chain for his study.

It's long and detailed but worth the read if you are into the subject. My initial takeaway is confirmation of what I have found in managing keyword or PPC based campaigns. When dealing with multiple keywords for a service or product there can be no precise measurement of effectiveness per keyword or keyphrase.

This is where many clients get confused about pay per click. It's easy for the small business operator to understand the need to advertise on a TV or radio advertising spot or even a print yellow pages ad because it's traditional. While ROI is not easily quantified it's tried and true, safe though expensive.

Web based advertising is still new and is being sold to them primarily by the same guys that used to sell them old media spots.
If a small businessperson were to read the Yale modeling study above they might come away with skepticism and that would be a shame. For the small to medium business it's the surest way to get above the fold.