- Finding the right keywords is a challenge, and critical for the success of a business. Advertisers require effort, time and money to compile an effective keyword list, but there are ways to find keywords by using the competition. Well-established competitors have probably already found the correct keywords for your market. The right competitive analysis setup and tools can be identified with the right approach.
- Analytics are the key to an effective search strategy. The right keywords lead to profitable sales and conversions, and conversion tracking is easy with numerous programs. Online transactions and form submissions are the easiest conversions to track. Businesses need customers to call, chat, and make purchases. Data for all these actions is required to find keywords with the best results. The setup can be challenging, especially if there are offline conversions. Performance can only be improved by tracking paid search campaign results. Only approximately thirty percent of advertisers track important conversion actions, and lose over a third of their conversions. This results in a 33 percent margin error. Analytics are necessary for keyword traffic.
The Competitive Research
- It can be difficult to know if the success of a competitor is coming from landing page testimonials, ad copy or their keywords. There is no way to be certain, although you can make an educated guess. The same elements that are working for a competitor may not work for another business. This means as nice as competitive research sounds, the practical approach may be best. With keywords, competitive research becomes practical. The correct tools for competitive analysis can determine the keywords being bid on by the competition. Many sites provide the ability to enter the domain of the competitor to get their keyword list. The valuable keywords for the business can then be identified. Most advertisers bid on a lot of unnecessary keywords, and only six percent are producing conversions. All competitor keyword bids are not profitable.
Stealing the Best Keywords from The Competition
- To steal a competitor’s best keywords, you must know which ones to ignore, and which to bid on. This requires testing new keywords, ads and account changes, and should be about twenty percent of the budget for an established account. Once the keywords are identified, ads can be built, and they should be tried for roughly three months. The profitable keywords can be identified with a good analytics setup using this data. When keywords are filtered for conversions, you will see which have not produced conversions. The cost column reveals the funds spent for these words. Next, decide which keywords need to be refined, and which ones to cut. The filter can also be reversed to see the keywords providing the best results. Once the great keywords have been identified, all that is required is a little time to dial in the bids, landing pages and ad copy. This will successfully edge the competition out.
- Stealing the best keywords from a competitor is not difficult. It simply requires a competitive tool for analysis, good analytics set up and a large enough budget for testing. These three tools will identify the most valuable competitor’s keywords for your business. Now the ad money can be successfully spent on the best keywords. This means you can beat your competition with their own keywords.