PPCChat | Competitive Research in PPC | 30th April 2024

Posted May 1st, 2024 by Amita & filed under PPCChat.

During this week’s PPCChat session, host Julie F Bacchini discussed the importance of competitive research in PPC, how regularly experts engage in any competitive research, whether they use any tools and any roadblocks or frustration they encounter.

Q1: Do you regularly engage in any type of competitive research for your client or brand? If so, how often do you do it? And if not, why not?

Yes, quite a bit, but none of it has the level of detail our clients would like. @JuliaVyse

YES! It is one of my favourite things to do. I do it as part of onboarding and also quarterly so I can stay on top of the competitive landscape. Because we all know it can shift quickly. @NeptuneMoon

I absolutely do – part of it is checking SERPs, but the other is checking landing pages and functionality. @navahf

It’s quite fun to see what they come up with but a quarterly view is mostly good enough. Gives an idea about Ads, LPs etc. @VishalDhanuka

@JuliaVyse I had a friend years ago who did true, actual market research. I think we need more of those folks today. @NeptuneMoon

As I am moving into managing smaller accounts I check before I build campaigns and during constantly and that is because smaller businesses are particularly vulnerable to changes in comp online. @runnerkik

The Google Ads Auction Insights reports is really helpful in making sure we’re targeting the right competitors. @revaminkoff

I also think there is education into explaining your online competition is different than IRL competition. @runnerkik

While there are many tools that help us with it, I think the human brain is the best tool. @navahf

@revaminkoff Agree, always check the auction insights report! @NeptuneMoon

I will say, I like that part of my market research is having all the major fast food apps on my phone. What are our competitors up to with loyalty anyway??? @JuliaVyse

Yes! This is a regular part of client work for us. @beyondthepaid

Auction insights and Transparency center has been great. Can not only see what comp is doing, but can get clients to see that. That makes them move a needle a bit more. @alimehdimukadam

Yep! We call it our “PersonaDriver” during onboarding but it’s essentially competitive research. Depending on the scope of the work we’re doing for them, it can involve paid search (optmyzr, spyfu, serps, auction competitors, relevant KW CPC’s, expected costs etc), paid social (sparktoro, meta ads library, or other ad libraries, ad manager reports, creative), SEO (SEMrush, screaming frog) and web experience (core web vitals, urgent site alerts, etc). I try to continue doing past the initial onboard – I’d say I keep on top of it mostly for paid search because we’re keeping an eye on auction insights by habit, but others too. @timmhalloran

I think there’s an important distinction between monitoring and research.

Monitoring = Keeping tabs on competitor spend, creative, seasonality, etc.
Research = Uncovering deltas between Brands X and Y to inform strategic future decisions

Research for Google Ads should include copy decisions, organic vs. paid keyword themes, ad and campaign formats, and organic content (on YouTube). This informs whether or not you can keep up with the Joneses vs. zig where they zag. Given the more robust nature of true research, most contracts can only afford it woven in quarterly. Beyond that, it has to be an incremental service. @teabeeshell

Always do it at the beginning of any engagement (and any new campaign launches) as well as during any audit work. Admittedly don’t do it regularly enough with existing clients, but I always find good insights when I do. @robert_brady

I typically do it more heavily during ad account audits. I’ll look at competitors’ ads, landing pages, creative, and booking/checkout flows. I’ll also sometimes look at their loyalty programs and email marketing. I also do ongoing competitor checks using auction insights. @Austin_Dillman

Q2: What does your typical competitive research entail? What are you looking at? Where are you researching data?

During onboarding, I look at who the digital competitors are – which is usually a combination of looking at data like auction insight reports and doing my own searching to see the actual results myself. I look at competitors landing pages and overall web experience. Both so I can see and evaluate that piece, but also so I end up in their remarketing audiences. If I am looking on social sites, I definitely click on competitor ads so I can see what other competitor ads will jump into my feed. @NeptuneMoon

I answered this a bit in my first answer but:

SERPs: checking creative + who’s on there
Landing pages: creative messaging
Social reach: LinkedIn let’s you track specific brands as competitors
Auction insights: impression share insights
Optmyzr (shameless plug): competitive intelligence widget @navahf

I typically use our tools, as well as hearing from our clients on what competitors they want to watch, whether they’ve done an MMM and if they track brand love or ad recall with focus groups. @JuliaVyse

Auction insights, SERPs, Client-provided competitor list (although often these are not digital advertising competitors) SEMrush for sites overlapping on keywords. @beyondthepaid

Next phase after onboarding and working on the account, I will follow competitors on socials and join their email lists. So I can see how they are communicating with prospects and what their offers and positioning are. @NeptuneMoon

I also look at SERP and this is a bonus of distributed teams because many times PPCers in different GEOs see different results
I ask a question in onboarding and look at what clients think
Pull in other information from auction insights
If you spend a ton you can get some category information from Google too
Search term reports also have a wealth of information on competition thanks to matching… @runnerkik

The autocomplete for their targeted search terms can yield some interesting information too. @NeptuneMoon

Lately, auction insights have been an indicator of wrong targeting due to the wider match. Apart from that, been using SEMRush and PPCReveal. @alimehdimukadam

I do have a question specifically about tools coming up. @NeptuneMoon

Ads libraries and transparency centers can yield a treasure trove of information about what competitors are running. Not what their success rates are with the ads, but it is a nicely organized window into what they are running and have run. @NeptuneMoon

I would criticize using SERPs for anything more than directional information. It’s too variable based on past search history, location, TOD, etc. + the endless combinations that something like PMax can deliver. I advocate for using it, but it can’t be a primary tool. Other research that I value includes:

KW Planner – Cross-referenced with some other organic tool (preference for Ahrefs)
Ahrefs – Organic, non-Google glimpse into organic AND paid activity, robust competitor review segment, tracked over time
Transparency Center – Similar note as SERP usage above, slightly more reliable/constant
AnswerThePublic – Paid tier is worth the insights, esp. to uncover motivations, needs vs. wants, and product/service attitudes

All of this gets distilled into actionable insights, activities that can be put into motion (as soon as tomorrow). Anything “softer” than that risks being merely monitoring, which I would argue is juice not worth its squeeze. @teabeeshell

@teabeeshell I use the SERPs to get a feel for what another searcher is reasonably likely to see. And to uncover trends and positioning data. Primarily, how do the competitors talk about their product or service, what are they calling attention to and what is their offer/CTA. @NeptuneMoon

I like the SERP because it can help you see things the way a prospect sees it. Sometimes you have to use a clean browser and VPN, but it’s a great exercise. @robert_brady

@NeptuneMoon – I do as well, especially Incognito/InPrivate for a closer-to-neutral representation of said SERP.I agree there is value there but with a grain of salt. I think the Transparency Center delivers a more objective view against the things you’ve outlined.There are few things I loathe more than a client saying, “I don’t see my ad” or “Why is competitor X here, and we’re not”? These are activities I coach OUT of clients. @teabeeshell

Q3: Do you use any tools in your competitive research?

Reposting from the previous Q, where I got a bit overzealous!

KW Planner – Cross-referenced with some other organic tool (preference for Ahrefs)
Ahrefs – Organic, non-Google glimpse into organic AND paid activity, robust competitor review segment, tracked over time
Transparency Center – Similar note as SERP usage above, slightly more reliable/constant
AnswerThePublic – Paid tier is worth the insights, esp. to uncover motivations, needs vs. wants, and product/service attitudes

The end result needs to be a concise deck, visually oriented, with actionable next steps. These should all be able to be executed immediately. There is little value exposing “problems” without solutions paired. @teabeeshell

I like Keywords Everywhere. It is a Chrome extension that will show you related keywords. It is like auto-suggest on steriods. Answer The Public has also historically been a really useful too to get into the mindset of your audiences and make sure your positioning and offers match with what is being generally sought. I take tools like Semrush with a giant grain of salt. I use data from these types of tools (SpyFu) as more of a proportional thing than absolutes. Like brand A is spending 3x brand B. @NeptuneMoon

SEMrush – and I use it exactly the way @NeptuneMoon describes, as a relative indicator rather than absolute. @beyondthepaid

On top of what was already answered, I would add 1 more. The Auction Insights report. It’s gold. Google continues to find ways to obfuscate and hide data so I’m always a bit skeptical of the findings but it’s really helpful. One of my clients was having some performance degradation and we used it recently to find that Survey Monkey has entered their space. @NicolasGarfinkel

I use data from the Keyword Planner in Google Ads the same way. I do not take the numbers you see there as absolutes (especially since they started showing grouped results) but indicators of relative volumes. @NeptuneMoon

Second auction insights. @Pete_Bowen

Search Console is also an interesting set of data if you can get access. @NeptuneMoon

Google Search is a good one too. Just type in your key terms and see who shows up. @NicolasGarfinkel

@NeptuneMoon – Search Console is excellent, especially when you exclude branded terms. It is arguably the best “look in the mirror” for how your brand appears to search engines and therefore the queries it’s eligible to attract. Great way to surface ways to pivot brand/product/service descriptions. @teabeeshell

I’ve been planning on building a tool that helps automatically exclude exact terms in PPC where we rank 1st in SEO using the Search Console data. @NicolasGarfinkel

At different times I’ve used SpyFu, iSpionage and SEMrush to help with competitive research. The numbers aren’t gospel, but they add a lot of context to the overall picture. @robert_brady

If you are doing PPC for a product, don’t sleep on searching on Amazon! Even if your brand is not selling there, TONS of people are looking there. @NeptuneMoon

Q4: Are there areas where you wish you could have more insight into the competitive market for your clients or brand? What makes it difficult to access the information?

Conversion rates, CAC/ROAS, monthly spend. I see some of this data published annually by some of the big agencies, but it’s at the industry level, not competitor level. Google’s account management teams will sometimes provide competitor data. @Austin_Dillman

It’s tough with international clients because it’s harder to accurately search for keywords. Yes, you can set a location or use a VPN but I find that hit or miss. @beyondthepaid

Market Caps and headroom data so I can backtrack and understand if a clients goals are even achievable. @runnerkik

Getting reasonably accurate SERPs for more local campaigns. The tools that let you simulate searches from locations other than your actual location are not as available as they once were. @NeptuneMoon

Other things to pay attention to that you have to dig for:

Earnings reports for competitors
Industry and trade news
General economic news as it relates to your client or brand
Any laws or regulations that are about to change that will impact the industry
Tax changes @NeptuneMoon

I would love more insight into: @teabeeshell

Search IS lost due to Rank
Click Share

Both of these are metrics I leverage to determine potential spend ceilings, but projections are difficult to stand behind. It would help to know things like:

X% spend unlocks at Y bid
Competitors outbidding you are willing to spend $Z per acquisition
tCPA vs. tROAS projections

@teabeeshell It would be nice to have more actual insight into what more could be gained with greater spend so we could better identify the likely point of diminishing returns ahead of upping spend. @NeptuneMoon

@NeptuneMoon – When available, the in-platform “Limited by ___” can directionally get there. I don’t fully trust these projections, but two scenarios to depict my point:

Spending $X more/day unlocks Y conversions but at a $X higher cost-per – May not raise budget if outside defined performance bounds
Loosening tROAS/tCPA bid by X% unlocks Y conversions at a -$Z cost-per – Feels like a no brainer, assuming more budget is approved @teabeeshell

Another note:
Search Themes (via PMax Insights) can be helpful, especially if exported. The catch is, individual themes/phrases are nestled under “umbrella” themes, so treat these as totals. If not, you risk over-reporting performance, potential volume, etc. As keywords (unfortunately) fade into the distance, this is a valuable resource, albeit a clumsy one.@teabeeshell

Q5: What is your biggest frustration or roadblock that you encounter when doing competitive research for your clients or brand?

Sometimes it is the client… being resistant to seeing their actual competitors vs. who they think their competitors are. @NeptuneMoon

Some of the tools on the market are just incorrect…and executives love reliable data. @runnerkik

At the top, it’s clients identifying poor/inaccurate competitors. I push folks to ID the following buckets:

Direct Competitors – These entities sell the same (very similar) product/service but with a different USP. From a consumer POV, they are alternates or viable subs.
Aspirational Competitors – Same as the above, but potentially with a broader product/service spread, later stage maturity level, or greater market share.

Beyond that, there is the reality of what Auction Insights delivers in terms of Auction Competitors, which is a reality any brand must grapple with. @teabeeshell

We always explain it is directional! @runnerkik

I will add this, as someone who has been doing this for a LONG time…A client who does not want to see what is truly happening in their market is going to be difficult to satisfy. Mainly because they can be reluctant to test things that need to be tested against what their true online competitors are doing. @NeptuneMoon

PPCChat Participants