Just got an email about a new program today called Adword Accelerator. This tool is for those who use Google Adwords and want to discover new words to place bids on based on certain criteria. It can help you find out what words have low competition and low costs-per-click as well as many other factors.

Although I haven’t tested this product I may be giving it a try soon. It’s extremely powerful in telling you tons of useful information about keywords. The cost is $27.95 a month, which isn’t a bad deal if you are going to use it a lot or only want to use it for a month.

Here are just a few of the benefits…

• You can automatically discover actual broad, phrase and exact match keyword variations from Google’s system, along with position, click and cost-per-day estimates.
• Find out how many ads are displayed for each word, PLUS how many ads actually use the keyword in their ad. If you find ads that are not using the keyword in their ad you may have a found a good word to bid on and get a high CTR by adding the keyword to the ad. (Ads with the keyword phrase in them get higher CTR usually.)
• Research actual misspelled keywords that AdWords advertisers are bidding on in Google.

It seems as of now you can only use the keyword lists that it creates for you instead of importing your own. This is the only drawback I can see as I would rather import my own list of keyword phrases from WordTracker.

They also have several videos you can watch that demonstrate many aspects of how Adword Accelerator works.

Update May 19th 2008: Adword Accelerator Ver. 3.0 has just been released. Watch videos and get details here.

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