Market Intelligence provides you with a competitive edge by measuring your brand performance relative to your competitors on a daily basis, these insights can be leveraged to help you craft better advertising strategies and improve overall business performance.
If you're monitoring your brand terms and notice a decline in brand coverage and/or product ranking, you may have a new competitor targeting you. Defend your brand coverage by increasing spend on your branded terms.
Target and Track Competitor Performance:
Tracking your competitor's performance for specific terms allows you to identify where your competitors are performing better than you. If you find you're consistently ranking below your competitors, start by increasing spend on these terms.
If ranking is still not improving, review your competitor's products to see how they're differentiating themselves in the market, this will help you discover new keywords that may help to improve your product ranking.
Maintain Product Ranking:
Make sure you're ranking low for the terms you want to be. These are typically your high-value keywords or terms that if you lose ranking could cause a significant decline in overall performance. Review the performance of these terms on a bi-weekly basis and make adjustments to your advertising strategy based on performance trends.
Increase Market Share:
To increase market share identify search terms with low brand coverage and create a separate campaign for these terms. Isolating these terms provides you with more control over spend allowing you to increase your bids on these terms without overinvesting in terms you're already ranking high for. Evaluate the performance of these terms every 1-2 weeks to see if the blitz in spend made an improvement in your ranking.
Identify Areas of Improvement:
Comparing your paid vs organic ranking for terms will help you understand where you're overinvesting and under-investing in your advertising.
For example, if you're consistently appearing in the top 3 spots on the first page organically for a specific term, there is less of a reason to target this term with paid traffic. Conversely, if you're not ranking (or ranking low) organically, you may not be investing enough in paid traffic.