Estimating PPC spend requires performing some preliminary keyword research.
You can get an overview of keyword research here...
Key Point: Your reach (in search) is intrinsically tied to your keyword list - consider the following:

- The term "college" is very broad. You probably don't want to include it in your estimate.
- The more specific terms (called "long-tail terms") won't drive a lot of volume
- The trick is to include a combination of broader (but not too broad) terms and very specific terms.
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