I noticed this morning a new report in the AdWords report arsenal: the Search Query Performance report (see below). It seems to provide detailed statistics for search phrases that have actually been typed in by users – not the ones you bid on, but the actual search phrases. So, for example, if you’re bidding on the broad match version of “red widgets,” the report will show you statistics about search phrases that caused your ad to appear – like “best red widgets” and “red widgets in California” – with the usual detailed stats on number of impressions, clicks and conversions. A fantastic tool for discovering new phrases, and deciding on negative keywords to filter out phrases that might never convert.
I’ll get more info from Google and report later.
Update: More explanation from Google:
“The Search Query Performance report is a new report type that shows performance data for search queries which triggered your ads and received clicks. Search query performance data provides insight into how users find and react to your ads. Using the report’s information, you can refine, rethink, or simply analyze the keywords within your account. In particular, this report can help you: 1) select the correct match type (i.e. broad, phrase, exact, or negative) for existing keywords; 2) identify new keywords you may want to add; and 3) identify existing keywords you may want to delete.
Also, for your information, not all search queries that triggered your ads will appear in this report. The ‘All other queries’ row provides aggregated statistics for the individual queries that do not meet our privacy and volume requirements. ”