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Keyword Bid Tools
Bid tools can help you by giving you an estimate of how much your competitors are bidding on specific keywords. Bid tools can also help you approximate how much your PPC ad campaign will cost based on your keywords and bid amounts. This is useful if you are trying to set a budget, or want to decide which keywords will get you the most traffic for the least cost.
Google Traffic Estimator
Google AdWords' Traffic Estimator, found at https://adwords.google.com/select/TrafficEstimatorSandbox, is a free bid tool available for anyone to use.
Google's Traffic Estimator is easy to use. You can type in one or more keywords and select your currency, the language and countries your ad will target, and, if desired, your maximum bid and daily budget. If you leave the maximum bid amount blank, Google will estimate it for you based on the keywords you selected. Then Google approximates for you how much traffic your keyword and bid will generate, and the number of clicks you might receive each day. This gives you an idea of how much your campaign could cost you per day. You can try different keywords and bids to see how the outcome changes.
Information from a bid tool like Google's Traffic Estimator can help you select keywords, choose maximum bids per click, and decide on a budget for your PPC ad campaign.
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