Google launched a new search tool called Google Search-Based Keyword Tool:

http://www.google.com/sktool

According to Google the new tool will help you to find out what keywords you should bid on for your landing pages. The tool identifies keywords that are relevant to your site but currently not part of your Adwords campaign.

The tool is mainly for use with the sites used in your own Adwords campaigns. But here’s a neat tip how you can identify additional keywords that your competitors don’t use.

Step 1: Let’s say we run an affiliate campaign for the Clickbank product FatLoss4Idiots

Step 2: Look for some affiliate sites promoting FatLoss4Idiots:

Let’s for example search for the affiliate site FatLoss4IdiotsForFree.com:

Did you see how I discovered some nice additional keywords to promote FatLoss4Idiots?

Just a creative way to use this tools. But the main power is finding additional keywords for your Adword campaigns.