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The purpose of keyword research is to identify your website's most popular, relevant keywords in order to increase search engine rankings. Keyword research is not just the gathering of keywords , but involves a deeper dive into the keywords that are being used by your audience, by your competitors and identifying keyword trends for your business.
Keyword research needs to be an on-going process as factors such as seasonality, industry development and new buzzwords all have a direct impact on keywords that users will search for.