Get a leg up for your business by establishing a presence with your competitor’s audience. You may as well bid on your competitor’s names and products, because they are bidding on yours. It’s imperative to bid on the names of your industry’s competitors, well known brand names and industry experts so that you can better establish your business and generate awareness (keep all trademark infringements in mind). This is an easy and often cheaper way to find new customers, primarily if you’re not well known or your products don’t have a large fan base. This allows you to piggyback on someone or something that does. 
Zappos, Overstock and Amazon are just a few of many companies who have done tremendously well and have generated a lot of business by bidding on competitor’s products and names.

(Above is an example of several companies that are bidding on Nike’s name)

In addition to utilizing the sponsored ads available through the search engines, you should also use your competitor’s keyword phrases and names in the content network, which can be of a great advantage to you. The content network allows you to display your ads on other websites that may mention your competitors or pertain to your industry. Utilizing image ads in the content network can help you start to associate yourself as a top competitor and a company that someone should look into before engaging with other companies. If your competitors or their competing products are getting a lot of press or coverage, you can capitalize on their coverage. Piggybacking on your competitor’s popularity and following is a great way to find new customers and establish a larger fan base.

MoreVisibility has been managing hundreds of company’s online marketing efforts for over ten years. Through the years we continuously stress the importance of knowing who your audience is. In order to best position yourself in the competitive paid search world and get the best ROI, you must first know who you are targeting. Your target audience is out there and looking for you, you just need to know how to capture them, and help them find you. Who you think you should target may not be who your target market really is. Knowing who to market to and how your competitors are marketing themselves will help you to create a more strategic paid search campaign. You are capable of reaching a worldwide audience 24 hours a day and seven days a week, but you need to know who in that audience you’re targeting.

The best way to establish who your target market is and how to position yourself to them is by conducting research. Conduct both primary and secondary research to evaluate and establish this. You can conduct polls or surveys of current or prospective clients to get a better understanding of your audience. You should network and use friends, family, co-workers, acquaintances and social media networks. Your relationships are invaluable resources when trying to figure out who your target audience is. It’s hard to take yourself out of the situation and look in from an outside perspective. Rely on your relationships to give you that outsider’s perspective. Read the industry newspapers or magazines that pertain to your particular trade. See what your industry is buzzing about and what the current marketing and advertising trends are. Research your competitors as well to see how they position themselves. Subscribe to industry blogs, feeds, discussion groups and forums to keep up with current market trends.

It is very important to tailor your online marketing campaign to suit the needs and wants of your target market. Keep your audience and market in mind when developing the website or landing page that will capture the paid search leads. Your website’s copy, navigation and aesthetics can be either positive or detrimental to successfully capturing your audience. It’s important to know who you are targeting when you are establishing your online presence. 

Knowing your audience is just the first hurdle in developing a strong paid search campaign. Always be sure to consistently ask yourself, does this properly suit the needs and wants of my target market?