Competitor analysis is much more effective when you choose the right competitor analysis tools and know how to use them well for the right kind of analysis.
It is out there. A treasure chest containing your competitor’s valuable marketing information and peeping inside may just be a good idea after all. It can help you find their strengths & weaknesses to explore your digital marketing strategy and boost the traffic for your brand.
But are you making all the exhaustive PPC AND SEO research worth your while?
As a paid search specialist, it is very important for you to understand that the competitor analysis tool you choose is not only the right one needed for executing the PPC competitor analysis effectively but is used optimally to give you the insights you want. Any analysis sans a comprehensive overview is going to leave you clueless with all the disparate available data.
How do you determine that?
- Who are your main competitors & what are their offerings?
- What are the keyword segments that they focus on?
- What kind of communication do they use?
- Do they have both SEO & PPC for maximum leverage?
- What is their annual spend & do they follow a pattern?
The outcome should give you a proper understanding of:
- Keyword prioritization
- Ad Copy variation
- Bid management strategies
- Performance trends
- Impression share
- Brand position
Pick the right competitor analysis tools:
Spyfu, SEM Rush, Keyword Spy, iSpionage and Moat are some of the tools available that make your analysis easier if used well. This is how each one works.
Spyfu – Enables you to download the most profitable keywords and ads for paid campaigns used by your competitor. The free version on the site is usually tapped to see which keywords the competitors are bidding, what are the different ad copies they run, what is the market share based on the number of keywords they bid on and their monthly spends (approximate). The paid version starts from $33/month.
SEM Rush – Let’s you quickly find your competitor’s keywords, and ads (both text & display banner) that you would like to target. By typing your competitor’s domain, (check if the domain is listed) you can view the ad text as well as the average position for the top-ranking keywords with their total budget & traffic. The paid version provides you all their keywords and their performance data for a selected date range. Along with this, you can download the entire ads and their performance.
Keyword Spy– Gives you a sneak peek into your competitor’s keywords, domains, ad copy, and AdWords spend. The data gets refreshed regularly and is stated in real time. The free trial lets you see 10 keywords, ads and competitor domains. The main advantage here is that you can find a combination of keywords and ads which is most profitable. The paid version starts at $89/month.
iSpionage– You can get quite a bit of information for free here. Along with the keywords and ads that you competitor is bidding for, it provides ranking information too. And with the paid version, you can build campaigns based on the information available. The ability to delve deeper and be privy to what your competition is up to gives you an almost unfair advantage.
Moat- Allows you to view and download all the display banners a competitor is running across channels. Just by providing the domain name, Moat provides the ads (past & present) which a competitor has tested or still testing on various digital platforms.
Adwords Auction Insights- This is one of the most invaluable resources available for Google search since the data comes directly from Google. The other third-party competitor analysis tools may not be as accurate as this one. The Insights report provides an instant glance into competitor analysis such as impression share, average position, overlap rate, position above rate, top of page rate, and outranking share. Google provides a definition of each measurement that you can refer to. We would like to call this the best place to start your competitor analysis within your digital marketing strategy.
Effective paid competitor analysis with the right competitor analysis tools lets you keep an eye on your competitor’s brand positioning and digital marketing strategy. This doesn’t let him grab a chunk of the market share without you losing focus of your targets and progress. Incorporate this into your PPC and SEO strategy and you are in the driver’s seat.