Spy Like a Pro: Mastering Google Ads Competitor Analysis in 2024

Digital Marketing / August 13, 2024

Your competitors’ chances of using Google Ads to boost brand awareness and drive conversions are extremely high—they might even be doing it better than you. 

As competition grows fiercer on Google Ads, staying ahead is crucial. Understanding what your rivals are up to can help you sharpen your strategy, optimize your campaigns, and ensure you don’t just keep pace but lead the pack.

Read our Paid Search agency’s best tips to create a comprehensive Google Ads Competitive Analysis so you have all the information you need to outperform your competition. 

Step 1: Find Your Main Google Ads Competitors

As a marketer, you probably already have a list of competitors you’ve been keeping track of, but it’s crucial to understand that this list might not fully align with your competitive landscape in Google Ads.

While your traditional competitors may be vying for the same customer base in a physical or general online sense, the dynamics of Google Ads can introduce new players who strategically target keywords related to your business. 

Here is how to get a better understanding of your competitive landscape in Google Ads: 

Search Your Target Keywords

The obvious way is to perform Google searches for the primary keywords relevant to your business and take note of the companies that frequently appear in the ad spaces above and below the organic search results. That’s a good first step, but this will leave gaps in your research. 

Look at Google’s Auction Insights Report 

The best (free) way to gain insights into who’s bidding on the same keywords as you is to look into your Auction Insights Report in Google Ads. This built-in feature provides valuable information on how your ads perform relative to competitors in the same auctions. 

It reveals data on other advertisers who are targeting the same keywords, including metrics like impression share, top-of-page rate, and overlap rate. By examining these insights, you can identify which competitors are most active in your auctions, how often your ads appear alongside theirs, and where you stand in terms of visibility. 

Take a look at your different campaigns and add these businesses to your preexisting list of competitors. 

Ask ChatGPT

If you prompt ChatGPT with a lot of information about your business (location, target audience, size, products or services) you can get a pretty extensive list of potential competitors in your market. 

Check SEMRush

SEMRush is a great tool to feed your Google Ads competitive research. Using the Advertising Competitors report, you can find out which websites compete with your Google Ads campaigns the most.

Step 2: Look at Your Competitors’ Keywords, Creatives and Ad Copy

Once you have a list of competitors, it’s time to really dig in and dive into their ad creatives and copy. 

Analyzing their ad copy can provide insights into their marketing strategies and help you identify gaps in your own approach. Are there any common themes or approaches that seem particularly effective? 

Google Ads Spy Tools

Let’s look at two of our favorite tools that provide insights into keywords, ad copy, and strategies used by your competitors.

Google Ads Transparency Center

In 2023, Google launched its Ads Transparency Center. Similar to the Facebook Ads library, anyone can see the ads that a specific advertiser is running across Google.

Yep, you read that right.

All your competitors’ Google ads are available, for free, in a few clicks. 

Look up your competitors’ ads and examine the language they use, their calls to action, and the value propositions they highlight. Look for patterns in their messaging—are they focusing on discounts, unique selling points, or brand prestige?

You should also look at:

• Which country are they advertising?
• What languages are they using?
• What platforms are their ads being served on?
• Are they using a specific ad format?
• What products are being advertised?
• Are the creatives more product-focused or lifestyle-driven?
• What tone are they using?
• What callout are they using?

SEMRush

SEMRush offers a comprehensive suite of tools for analyzing competitors’ PPC strategies. You can see which keywords they are bidding on, their estimated traffic, and their ad spend. It also provides detailed reports on competitors’ ad copy and landing pages. Take a look at SEMRush’s blog article on how to perform a paid media competitive analysis. 

Step 4: Analyze Your Competitor Landing Pages

Your competitors’ landing pages are just as important as their ad copy. 

As you click on your competitors’ Google Ads, you’ll be sent to their landing pages. Are they driving traffic to a specific conversion-focused page, or their main website? What are their primary and secondary conversion actions? Are they using engaging visuals, clear CTA and persuasive copy?  What unique selling points are they highlighting? How easy is it to navigate their site and complete a conversion action? Are they showcasing a compelling offer? Are they using any social proof components like testimonials, reviews, case studies, etc?

Asking yourself these questions will help you identify gaps and opportunities on your own landing pages and increase your conversion rate. 

Step 5: Find Insights and Make Recommendations

After gathering all this data, the final step is to synthesize your findings and make actionable recommendations. Are you noticing any trends in your competitors’ strategies? How can you differentiate yourself from your competitors?

Remember, the key is to use this analysis not just to mimic what’s working for others, but to find opportunities for differentiation and gaps in your own strategy. Use this information to test new tactics, different ad copy or call to action.

Also, note that a competitive analysis isn’t a set-it-and-forget-it document. Digital advertising is very dynamic, new competitors emerge, and strategies change. To maintain a competitive edge, continuously monitor and reassess the activities of your rivals once in a while. 

If you need expert help to make your competitive analysis on Google Ads, write us a note, our paid media strategists would be happy to help.