Instead of bidding on your own business name (which you should dominate Google for if you’ve done everything else correctly) – why not bid on your competitors names?
Isn’t the name of the game to try to get business from your competitors? Why not have an ad appear when someone searches that competitors name? There are several advantages to this.
- Your name shows up above the listings for your competitors name
- this gives you a chance to run an ad that says something to the effect of – Before you try the rest – try the best. Put something that might be compelling to a customer of your competition in the ad text. To figure out what that might be – do a little homework. Research the competition. Do they have a lot of complaints? If so, feature the fact that you have an A+ rating with the BBB in your ad. Are you the only one? Why not feature that?
- Low Cost of clicks
- If you do an “exact match” for the name of your competitor and the city someone might be searching – the cost of this click is likely to be VERY LOW.
- Opportunity to snag business from other competitors
- Very few of your other competitors are using this strategy. If you are the only one, you may snag business that they won’t have a chance at. Your business grows, theirs does not.
- Higher than average conversion ratio on the clicks
- If you run a highly targeted ad, to a specific demographic (those that might be disappointed int he service or product of your competitor), and that ad draws the attention (and the click) of the customer, they are way more likely to convert and become your customer.
- Better overall campaign performance
- If you can increase the overall performance of your campaign, all keywords will most likely get a boost to Qualtiy Score, which means a boost to Ad position, and lower cost clicks across the board. If your budget stays the same, but your cost per click drops – you get more clicks. This will equal more customers in the long run which in turn equals a greater Return on your Investment. Talk about a win, win, win!
As you can see, there are many reasons to research the competition, find their weaknesses, and then eventually bid on their business name as an exact match keyword.