Analyze Competition: New AdWords Tool Helps Advertisers Stay Competitive

Ever wonder how your competitor’s AdWords campaigns are performing? Google recently announced a new addition to Adwords called Analyze Competition (in beta) that gives advertisers more transparency to help them stay competitive.

Google’s Analyze Competition tool (on the Opportunities Tab) lets advertisers compare their performance with the average performance of other advertisers in their product/service category. Competitive data is presented as generalized bar graphs, and is kept anonymous. Advertisers can compare campaign impressions, clicks, CTR, and average position:

Advantages of Google’s Analyze Competition Tool

• Categories for benchmarking competition are based on actual search terms that are matched up against advertiser’s keywords, ad text, and landing page copy.
• Details such as exact size of competitive range, mean/median performance levels, and data on top/bottom performers are provided.
• Opportunities are presented through an “Explore Ideas” button, which suggests customized keyword bids and budgets.
• It’s a free serviced provided through the Google Adwords interface, as opposed to fees associated with other subscription-based marketing intelligence services.

Why Competitive Insight is Beneficial

It helps advertisers…

• Find out if performance is in a similar range to the competitive set. These comparisons can be weighed against several metrics, including impressions, clicks, CTR, and average position; this makes it easy for advertisers to make comparisons based on metrics that are most important to their business.
• Identify areas for improvement and easily make sufficient changes to their AdWords campaigns as well as their website and landing pages to improve overall performance.
• Focus budget to target the best performing areas.
• Gain insight on how competitors are finding success in AdWords.
• Explore new growth opportunities.
• Reflect on specific advertising goals to determine what success means for the website.

Want to get ahead of your competition? We have experience using this tool as well as other campaign optimization strategies. Contact us today and let us help you manage your paid search campaigns!

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