The goal is to know the competitor’s brand name, the type of ad networks they will be using, and the keywords they have chosen to target and recognise the budget they have and are going to be using.
Today you can bid on the person that is one of your competitors and their brand name, but the one thing that you are not allowed to do is mention their company name when you are making an advertisement copy.
The Pros of Bidding on Competitors’ Brand Names
One of the pros of being able to bid on your competitor’s brand name is that the keywords that they might be using are way less competitive than the usual keywords that they might use to describe their business.
Another thing to think about is brand awareness and how they represent themselves.
This can also be done through the way that their audience engages with them because of the brand name that they have made for themselves.
If you have a new avenue to find out about their brand name and see where they are currently in the market, you can do this by making yourself available and getting those conversions that you deserve.
The Cons of Bidding on Competitors’ Brand Names
When you first start bidding on your competitor’s brand names, you will find out that you will begin with a low click-through rate.
Often, this is because they are looking for that one brand.
In PPC terms, you can consider a leading competitor’s brand name to be middle and low when keywords are involved, so this is because that name/ brand might not be that well known to you.
By doing this and digging into these different competitors’ brands’ names, there is a possibility that you are going to start a war.
This is because you are more than likely going to spend quite a lot of money to bid on the keywords they use so that they will charge you more for the advertisements.
When bidding on your competitors has been done correctly, it can provide a helpful boost to the online advertising performance that your business may need.
What Are the Main Mistakes to Not Make When Bidding on Competitors Brands?
Mistake #1 Thinking That Everyone Should Bid on Competitor’s Brand Names
Bidding on these competitors’ brands is an excellent tactic to have.
But you might need to think about how it is not necessarily the correct route to go down, nor should it take place if they are just starting to get some leads on their business.
Mistake #2 Bidding on The Wrong Kind of Competitor
One of the biggest mistakes that marketers and advertisers usually make is when they start and do this; they are more than likely bidding on the wrong kind of competitors.
Make sure you choose to bid on the kind of competitors that you have an instinct that you have a competitive advantage over.
whether the price of your business is better, have better and bigger supply options or anything else you can think of.
Mistake #3 Bidding Aggressively on Mobile Devices
As the use of mobile devices becomes even more popular and a more significant part of how all these marketers are advertising.
It has been suggested these advertisers need to have these mobile devices as this is how customers find out about all of these different campaigns.
In this case, it is only familiar to, and I assume that when bidding on these competitors, when this is done on a mobile device, it is the same as when you are already advertising on a desktop.
But no, this is not the case whatsoever.
What is Trying to Be Put Across Through Advertising is Different on a Mobile Device
When a reader is looking for a specific business name on their mobile device, they are looking for that particular location when bidding on their competitor’s brand name.
So, overall bidding on your competitors and the kind of keywords they use can be an excellent opportunity for competitors with the right tools and budget to support what their business is about.
This is also a good tactic when growing your business by yourself. But do remember to try and avoid any obstacles and pitfalls along the way so you can start earning the rewards you and your business deserve.
What to Do When Competitors Buy Your Brand Keyword?
It is crucial that when you notice that these competitors you have looked at bidding on are trying to buy your keywords. So here are some helpful tips.
- Own Your Name
A great way to protect you and your brand is to regain the clicks you might have lost because of this, as a competitor’s advertisements have shown up under one of your main keywords.
- Talk To Someone in Your Business and File Paperwork
Before you decide to do anything, it is good to contact the competitor and ask them to remove the ads they have decided to include.
This is an excellent thing to do as the competitor you have been bidding on might not have realised this has happened, and it was a simple mistake.
How to Bid on Your Competitor’s Brand Names for PPC
If you want to know how to bid on your competitor brand names for PPC, call us. We would love to talk to you. Email, [email protected] phone tel:016170620012 Or fill in the contact form page