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.