AdWords Keyword Tool planner CPC completely different to real CPC?

Posted by steve on Pro Webmasters See other posts from Pro Webmasters or by steve
Published on 2013-08-03T09:03:33Z Indexed on 2013/11/06 16:15 UTC
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I'm new to AdWords, and trying to figure out the best keywords to use.

I go to Adwords Keyword Planner, and typed in an example keyword. It gives me an average CPC of $0.94.

But when I go to set up a real campaign and type it the same keyword, I get an error saying 'below first page bid estimate' which is $8.75.

What gives? Is there a better way to get more accurate feedback on how much this will cost?

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