Many advertisers limit the analysis of competition to the mere names they get though the Ad Preview Tool. The Ad Preview Tool is a powerful instrument that will tell you who is bidding on a given keyword and how they are doing it (content wise). Unfortunately, the Ad Preview Tool has some limits:
- You cannot click on an advertisement and therefore cannot gain access to a competitor's landing page. This means you would never be able to see the landing page of a competitor if you were not located in an area in which he is advertising.
- You will get a snapshot of your competition at a given point in time. You do not get an overall statistic of your competition over time
In order to start an effective competition analysis you can integrate the Ad Preview Tool with some other effective strategies.
Log into your AdWords account and pick the 5 keywords you believe are going to be the most relevant to your campaign (Ideally, you will use the top 5 performing keywords of your mature account). You can now google all 5 keywords using the Ad Preview Tool and analyze all competitors that will pop up on your screen. To get to a landing page, you will need to copy and paste the display URL into a new tab of your browser. If you are lucky, the display URL might be the Landing Page (that’s very rare). This is the best solution you have if you are not able to physically locate yourself in the search area you want to analyze. Create a table containing 3 main columns: Competitor Name, Unique Selling Proposition, Offer.
Once you have completed this first point, ask yourself the following questions:
a) Look for competitors that have identified an unique selling proposition that might give them a competitive advantage. Is that something we do but expressed in a way that does not come across as an unique selling proposition?
b) Are there any offers that stand out? Is our offer standing out or is it just another offer among many others?
c) What can we do to stand out from the competition?
d) Is there any landing page design that has a set up you would like to test in your account?
This will help you to understand your competitive position in comparison to other businesses and eventually improve it.
The Ad Preview Tool is not enough in order to fully analyze your competition. There are some advanced techniques you should use in order to perform a great analysis.
We will cover these other advanced techniques in our blog in a few posts!