The next best thing if you weren’t able to dive right into your competitors account would be to know how you are performing against them. Google’s real time bidding (RTB) model means that advertisers cannot pay for a guaranteed position in the ad auction. It is a real time impression determined from a keyword entry when searching on say Google.co.za. Our ads are not alone on the results page and we all know that others are able to bid on similar keywords to ours, but can we find out how well our campaigns are doing in relation to our competition?
Yes we can and the Analyze Competition tool provides some valuable insights for all Google search advertisers. You can find the Analyze Competition tool under the Opportunities tab on the AdWords interface.
How does it work? The Analyze Competition tool divides your account into categories based on actual search terms, keywords, ad’s and landing pages that are active in your account. It then uses a two week timeline to aggregate and average all data collected in your set of categories. Comparative information in AdWords is displayed on an eye pleasing bar graph and is easy to interpret. The bar graph will illustrate how well your campaigns are performing against the industry average in your particular categories.
You can filter results to show a report for: impressions, clicks, CTR’s and average position (best view all). See where you rank up per category and subcategory displayed in segments, such as: bottom of range, median, average or top of range. Data per category (emergency services) is available in sub categories (fire, police, rescue, NSRI) that are relevant to your account for further insights. Filter right down to view results on each subcategory, specific targeted locations and see relevant search terms that may not exist in your account. If you wish, you can add these keywords directly from the Analyze Competition tool into your intended Adgroup.
Using this Google AdWords tool can help indentify areas in your account that are underperforming and need optimisation. It is unfortunately a fact that even having an account in tip-top-shape, if the competition increases there are more players bidding and they play a role in determining our Cost Per Click’s. This tool will help you establish a benchmark in relation to your competitors and highlight opportunites for your account, but always keep in mind your campaign goals and Key Performance Indicators. I’m watching you! Kind of!
