​Competitor Targeting
Increase your company's differentiation, market share and shareholder values by identifying your competitors.
Thanks to the online tools currently available to us, people have been able to help their business not only grow but expand their online presence as well ensuring more and more people consider using their services or buy their products. However, most likely you are not the only business that offers that same type of service or products and they are also using the same online tools to help their business as well. Now, you might be asking yourself "How can you make sure you stay ahead of the competition?"
A good method that can help you stay ahead of the competition is through the use of what is known as Competitor Targeting.
What is Competitor Targeting?
The concept behind competitor targeting on Google Ads is simple, and can be highly effective when done correctly. Basically, it lets you bid on the branded terms of your competitors who offer similar products and/or services like your business, so your business can appear for their branded terms in search results.
How can it be beneficial for your business?
By appearing for your competitors’ branded terms you can take potential traffic and clicks and leads from your competition not to mention your also getting free brand awareness and possibly making people reconsider their decision and check your business instead.
It offers a win-win situation when done correctly, since you either end up obtaining a new click/lead (one that went to you and not your competition) or you receive increased brand awareness among your target market and the competition picks up the tab.
Competitor targeting is a widespread practice which it’s perfectly legal, however, you need to make sure you follow Google's rules properly which can be difficult depending on the person's knowledge and experience in the field of marketing.
Do you need help getting started with competitor targeting on Google Ads? The experienced team at Mrkt360 has the knowledge and the experience when it comes to the use of online advertising platforms such as Google AdWords and can help you better determine if competitor targeting is right for you and your business.
