Keyword values make no sense?
How can the CPC for a high competition keyword like 'jobs' (450,000 per month) have a recommended bid value of only £0.43 and yet a keyword phrase like 'electrician jobs in london' is still classed as high competition with only 390 hits per month???? And the recommended bid value is almost twice as much (£0.80). Not only this, I do not believe for a second that 'jobs in kent' has almost three times as many (90,000) searches as 'jobs in london' (33,000)!!!???
Can somebody explain this, please?
PS. All above are UK-only searches.
Re: Keyword values make no sense?
The way CPC is calculated it has nothing to do with volume of search for that specific term.
"Competition" shown in Google "Keyword Planner" is based on the number of adverts competing for those keywords and not based on "Avg. monthly searches".
For generic terms and with no substantial value, such as "jobs" it's normal to see a low CPC, simply because adverts are unlikely to convert easily from such a generic search. Normally, more specific terms tell more about the purpose of the search and advertisers can benefit from it, also meaning CPC tend to be higher.
In terms of search volume of "jobs in kent" compared to "jobs in london", I have to agree doesn't seem right. Just checked Google Trends and "jobs in london" is way above "jobs in kent", which is not compatible to what you see on "Keyword Planner" (for the last 12 months).