One tactic in AdWords that is often debated, is the pros and cons of bidding on your competitor’s brand names. Some view it as a waste of money, while others see an opportunity to benefit where they couldn’t before.
Win Over New Customers
Bidding on your competition is a good way to get a new name in front of a more seasoned company. It’s also a way to win over some new customers looking for a better deal on a product or service.
Depending on the goods or services you offer, bidding on your competition could get expensive fairly quickly, but like anything in PPC, you won’t know the results unless you test it!
Setting up a competition campaign is a straightforward process. It’s recommended that you choose one competitor per ad group. In each competitor ad group, you can start with one or two keywords of your desired match type using their brand name.
Explain Why You’re A Better Choice
With your ads, you should really highlight any and all benefits of why it’s better to convert on your website. Highlight free shipping, outstanding reviews, free consultations, any hot sales you might have, or whatever else is enticing enough for someone to click your ad instead of something they’re familiar with.
Like any other keyword, bidding on your competitor’s names is not a guarantee, but for some businesses, it’s a successful strategy that brings in new clients and customers looking for a change.
Request a proposal and we'll take a deep-dive into your account and give you actionable next steps and suggestions to improve your ROAS - including whether bidding on your competition is a good strategy for your business.