Imagine you’re a boxer, stepping into the ring without studying your opponent’s moves. Sounds risky, right? The same principle applies to Google Ads. To succeed, you need to understand your rivals’ strategies, a process known as local competitor analysis in Google Ads. Ready to step into the Google Ads ring fully equipped? Let’s dive in!
Competitor analysis is essential for optimizing Google Ads accounts and leveraging competitor data to increase ROI.
Utilize professional advertising research tools such as the Google Ads Keyword Planner to identify high performing keywords, uncover potential growth opportunities, evaluate keyword relevance & search volume.
Leverage local competitor insights to refine campaign strategies, identify market gaps & differentiate from competitors for maximum ROI on Google Ads campaigns.
The Importance of Local Competitor Analysis in Google Ads
Think of Google Ads as a competitive digital marketplace. Here, your ad campaigns aren’t just about your message but also about how you stack up against your google ads competition. Reviewing their strategies offers valuable insights which can supercharge your ads and align them with market dynamics, paving the way for improved performance and ROI. To achieve this, it’s essential to optimize your Google Ads account, as well as manage multiple google ads accounts if necessary.
Conducting a Google Ads competitor analysis can help you identify opportunities through the analysis of a competitor’s ad impression frequency, relevant google ads competitors within your niche, and strategic bidding on key non-branded keywords also targeted by competitors. Leveraging competitor data allows for campaign optimization, better budget decisions, and performance evaluation, ultimately boosting your ROI.
Identifying Your Local Competitors
Now that we understand the importance of competitor analysis, let’s examine how to identify our local competitors. A plethora of tools, such as SEMrush, Ahrefs, and Google Search, can help you identify businesses targeting similar keywords and audiences in your local area.
These tools not only help you identify your competitors but also provide insights into their traffic, spending, their ad campaigns strategies, and the keywords they are bidding on. For instance, SimilarWeb offers insights into a competitor’s monthly traffic, traffic sources, and the geographic distribution of their visitors. Armed with this information, you can effectively position your business to outperform these competitors in your local market.
Analyzing Local Competitors’ Keywords
Following competitor identification, the next step is to delve into their keyword strategies. Analyzing their keywords allows for refining your keyword strategy, boosting relevance, and optimizing bids for impactful yet less competitive terms.
1. Discovering High-Performing Keywords
High-performing keywords are the bread and butter of successful Google Ads campaigns. Identifying these paid keywords can enhance your keyword targeting and bidding strategies, giving you a competitive edge. Utilizing tools like the Google Ads Keyword Planner can further improve your campaign performance.
Several tools can aid in this process, including:
WordStream’s Free Keyword Tool
Ahrefs’ Keywords Explorer
Google Keyword Planner
These tools, known as advertising research tool, not only help you discover high-performing keywords but also provide historical data on previous ad performances, helping you avoid targeting ineffective terms.
2. Identifying Keyword Gaps
Keyword gaps are unexplored opportunities in your keyword strategy. They represent keywords that your competitors are ranking for but you aren’t, offering potential areas for growth.
Several tools that can help you identify keyword gaps include:
Google Keyword Planner
SEMrush’s Keyword Gap
Ahref’s Content Gap
Moz Keyword Explorer
Focusing on relevance, search volume, and alignment with business objectives helps distinguish between valuable keyword gaps and irrelevant ones, ensuring targeting of the most impactful terms for your business.
3. Evaluating Keyword Relevance and Search Volume
Once you’ve discovered high-performing keywords and identified keyword gaps, it’s time to evaluate keyword relevance and search volume. This process ensures the keywords you target align with your business objectives and have sufficient search volume to drive traffic to your ads.
Tools such as Google Keyword Planner and SEMrush can provide valuable search volume and competition data to assist in this process of keyword research. Consideration of both the demand (as indicated by higher search volume) and relevance to your business can effectively prioritize your keywords and allocate your budget accordingly.
Assessing Local Competitors’ Ad Copy and Creative Assets
Having a grip on your competitors’ keywords is half the battle. The next step is assessing their competitor ads, ad copy, and creative assets, which is just as crucial in gaining a competitive edge.
Analyzing their headlines, descriptions, and ranking keywords gives valuable insights into their positioning and messaging strategies. This process, also known as advertising research, allows you to identify trends, best practices, and areas for improvement in your own ads, ultimately enhancing the effectiveness of your ad copy and creative assets.
Investigating Competitors’ Landing Pages
Now that you’ve dissected your competitors’ ad copy and creative assets, it’s time to turn your attention to their landing pages. A well-optimized landing page is the cornerstone of a successful Google Ads campaign.
Utilizing tools like SEMrush helps identify the landing pages your competitors are directing their ad traffic to. By evaluating the layout, design, and content of these pages, you can gain insights into their conversion strategies and apply these insights to optimize your own landing pages.
Monitoring Local Competitors’ Bids and Budgets
To fine-tune your bidding strategy, it’s crucial to monitor your local competitors’ bids and budgets. Understanding the strategies utilized by your competitors lets you allocate your resources more strategically, enhancing your Google Ads performance.
Several tools, including Google Ads’ Auction Insights, SEMrush, and iSpionage, can help you monitor your competitors’ bidding strategies. These insights can inform your own bidding strategies, ensuring you make informed decisions about your budget allocation.
Leveraging Local Competitor Insights for Your Own Campaigns
Having gathered all these insights about your local competitors, it’s time to put them to work for your own campaigns. Applying these insights enables the refining of your campaign strategy, identification of market gaps, and differentiation from your competitors.
Whether it’s fine-tuning your keyword strategy, refining your ad copy, or adjusting your bidding strategies, leveraging local competitor insights can enhance your Google Ads performance and maximize your ROI.
Case Study: Successful Local Competitor Analysis in Action
To illustrate the power of local competitor analysis, let’s delve into a case study. This case study showcases how a business utilized competitor analysis to refine their Google Ads campaigns and improve their performance.
Gathering data on their competitors’ strategies, conducting a thorough analysis of their SEO tactics, and identifying their strengths and weaknesses enabled this business to allocate their resources more strategically, enhancing their keyword selection and refining their messaging. As a result, they saw a substantial increase in their return on investment in Google Ads.
While the timeline for businesses to observe results after integrating insights from local competitor analysis is variable, this case study serves as a prime example of how leveraging local competitor insights can significantly enhance the performance of your Google Ads campaigns.
As we’ve traversed the journey of local competitor analysis in Google Ads, it’s clear that understanding your competitors’ strategies is crucial for success. From identifying your local competitors, analyzing their keywords, assessing their ad copy and creative assets, to monitoring their bids and budgets, each step equips you with valuable insights to enhance your own campaigns.
By leveraging these insights, you can refine your strategies, improve your ad performance, and increase your ROI. Remember, knowledge is power. So, keep your friends close and your competitors closer!
Frequently Asked Questions
How do you do competitor analysis on Google Ads?
Competitor analysis on Google Ads can be done by going to the Advertising Research Positions report and querying your competitor’s domain, watching their video ads, viewing their image ads, reading their ad copy including headlines and descriptions, seeing the calls to action they’re using, counting the number of ads they’re running and using the Ads Copies report to see the actual ads run by your competitor.
How do I use Google Analytics for competitor analysis?
To use Google Analytics for competitor analysis, write a list of competitors and open Google Analytics to incorporate the network domain, isolate your competitors, and build custom segments for each. Finally, analyze engagement and behaviour.
Can you target competitors on Google Ads?
Yes, you can target competitors on Google Ads by bidding on branded search terms. This will result in your ad being visible to online users when they are searching for competitors.
How do I use Google Ads for local marketing?
Using Google Ads for local marketing requires enabling location assets on your account, setting up or updating a Business Profile listing, utilizing location targeting and bid by location options, and optimizing keywords.
What is the significance of reviewing competitors’ strategies in Google Ads?
Reviewing competitors’ strategies in Google Ads is essential for gaining valuable insights to inform ad creation and stay ahead in the competitive market. It also helps benchmark performance and leverage key insights into competitor products, sales, and marketing.