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Now, Keyword volume loosely means the weekly/monthly search volume for a set of keywords.
It is a mode of predicting how well your set of keywords will fare in the world of advertising and against fellow competitors. This step serves a very efficient precautionary test run.
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It’s a sneak preview of how efficacious your set of keywords will be for generating your expected volume of searches. It is a precursor for effective implementation, helping you decide what keywords to add to a new or an existing campaign which would ultimately tailor your budgeting decisions for optimum use.
Again, as previously stressed upon, Keyword selection requires a comprehensive understanding of the market, a coherent picture (should be clear as day) of the market/target audience. The understanding of the market would further lead you to verify actual interest of the audience, whether it is being highly talked about or not at all.
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Let’s suppose your interest has been incited towards the Tech-world, it would bode well to keep tabs on the current happenings i.e. what is trending in the tech-world and what is not, TechCrunch would prove a dependable source of information or any subscription to a Tech-Mag.

More often than not it is the “untapped resource” which serves as a goldmine of potential. By “untapped resource” I mean to bring your attention to the news sources which talk about a topic just a tiny bit, but you see the extensive nature of debate on a blog or a Q&A blog somewhere, this would indicate that the social interest hasn’t been mainlined as yet to instigate the potential growth, which would give you
the perfect opportunity to swoop in the with your set of keywords giving way to rigorous advertising.
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Now, as an example take this excerpt from Moz.com. Read on.

“There’s a trend to start using the word “growth hacker” to describe marketers in Silicon Valley. So Silicon Valley has historically not particularly liked marketers, and so now they’re embracing marketing and the practice of getting actual customers on their start-ups by calling it growth hacking. That’s what they have chosen to call it. That’s fine. Now, news sources are writing about this only a tiny bit. Social sources are talking about this a little bit more, and you can see plenty of activity on Q&A sites in the technology field, like on Quora, like on Formspring.”

So what does this indicate to you? Well, it says to me, “Hey. This means there’s an opportunity there." 

Got a clear picture?

Now, to guide thee on thy lofty quest, Google provides you with a Keyword Planner which makes life easy. From historical stats to keyword grouping for finding a suitable set of keywords most relevant to your product, it comes loaded with virtual test runs to check/estimate the success rate of the keywords. That estimate will be your guiding star to help you budget accordingly.

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To get you on your way, here is a setup guide for the Keyword Planner
http://goo.gl/7avD0O

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