1. Identify Your Competitors

Start by identifying who your main competitors are. This can include both direct competitors (those offering similar products/services) and indirect competitors (those competing for the same ad space). Use the following methods:

• Search Results: Perform a Google search for your primary keywords and note the companies appearing in the top ad positions.
• Tools: Use tools like SEMrush, Ahrefs, and SpyFu to discover who is bidding on your keywords.

2. Analyze Competitors’ Keywords

Once you’ve identified your competitors, analyze their keywords to understand their targeting strategy.

• Keyword Research Tools: Tools like SEMrush and Ahrefs can show you the keywords your competitors are bidding on.
• Google Ads Auction Insights: This report within Google Ads provides data on your competitors’ impression share, average position, and overlap rate.

3. Examine Competitors’ Ad Copy

Analyzing your competitors’ ad copy can reveal what messaging resonates with your audience.

• Ad Copy Analysis: Look at the headlines, descriptions, and call-to-actions (CTAs) used in your competitors’ ads. Note the ad extensions they use as well.
• Split Testing: See if they are using different versions of ads for A/B testing.

4. Review Competitors’ Landing Pages

A successful ad often leads to a well-optimized landing page. Analyze your competitors’ landing pages to see how they convert traffic.

• Landing Page Elements: Examine the layout, content, CTA, and overall user experience of their landing pages.
• Conversion Optimization: Identify what elements (e.g., forms, testimonials, social proof) they use to boost conversions.

5. Monitor Competitors’ Ad Spend

Understanding how much your competitors are spending can help you gauge the level of competition.

• Budget Estimates: Tools like Adbeat and iSpionage can provide estimates of your competitors’ ad spend.
• Ad Scheduling: Observe if your competitors are running ads continuously or during specific times of the day or week.

6. Track Competitors’ Performance

Keep an eye on your competitors’ performance to spot trends and shifts in strategy.

• Performance Metrics: Look at metrics like click-through rate (CTR), conversion rate, and average position.

Adjustments: Note any changes in their strategy, such as new keywords or different ad formats.