Google recently updated its AdWords program to allow advertisers to analyse their competitors a little more closely.
Analyze Competition allows advertisers to measure how their campaign performs against their competition. It measures your performance over the past two weeks. Then, using categories stemming from your products or services keywords it then gives you perspective on how your competitors are doing in those same categories. For each category, users will see a bar graph highlighting the advertiser’s performance compared to the performance of its competitors.
The video below gives a thorough overview of the new feature.
Google’s Emily Williams explains the depth of the data available:
When you hover over the data in the ‘Competitive Range’ column, you’ll be able to see more details such as the exact size of your competitive range, the mean and median performance levels for this range, as well as data on the absolute top and bottom performers.
Emily has also outlined 3 suggestions on how to use this data to your advantage:
- Take action. Click the ‘Explore ideas’ button to see customized keyword, bid, and budget ideas for your account.
- Consider your advertising goals and focus on the most relevant metrics. It’s not always a bad thing to perform below competitors on a metric that’s not important to you.
- If you see that one campaign is performing poorly in comparison to the competition, you can get insight into changes you can make to improve that campaign.
At this stage, the “Analyze Competition” feature is only available to a small number of advertisers using the English language AdWords interface, but Google says it will expand availability in the near future.