How do you adjust your bidding or messaging strategy in response to competitors?

Adjusting your bidding or messaging strategy in response to competitors is essential for staying competitive and maximizing the effectiveness of your campaigns. Here's a detailed breakdown of how to make these adjustments based on competitor actions:

🚀 1. Adjusting Bidding Strategy Based on Competitors
A. Analyze Competitor Auction Insights
Use Auction Insights in Bing Ads (or other platforms like Google Ads) to track how your competitors' ads perform in the same auctions. Based on this data, you can adjust your bidding strategy:

Increase Bids if Competitors Outrank You: If competitors are consistently outranking you in ad position, it may be time to raise your bids for high-value keywords to maintain visibility. Prioritize the keywords where you want to improve your impression share.

Lower Bids if Competitors are Overspending: If your competitors are outbidding you, but they're not converting well, you might be able to maintain a competitive position with a lower bid. Focus on efficiency—adjust your bids to maintain a profitable position without overspending.

Adjust Bids Based on Ad Position and Conversions: If your competitors are bidding aggressively for top positions but your ad is converting better at a lower position, you may choose to bid lower while still capturing clicks. Use Target CPA or ROAS strategies to optimize for conversions rather than position.

B. Set Bid Modifiers for Competitor and Market Trends
Dayparting: If you notice competitors bidding aggressively at certain times of day, consider shifting your bids to maximize visibility during those periods or avoid overpaying for times when competition is fierce.

Device-Specific Bidding: If competitors are focusing heavily on mobile or desktop, you can adjust your bids to target the device that works best for your conversions. For instance, if competitors see higher conversions on mobile but you don't, adjust your mobile bids to capture more of that traffic.

Geo-Targeting: If competitors are targeting a particular region heavily, but you are seeing stronger conversion rates in different locations, adjust your location targeting and bid modifiers to target more profitable regions.

C. Use Competitor Keywords to Adjust Your Strategy
Track which keywords your competitors are bidding on using tools like SEMrush, SpyFu, or Bing Ads' Keyword Planner. You can adjust your bids based on whether these keywords are valuable for you.

Bid on Competitor-Branded Keywords: If competitors dominate certain brand terms, consider bidding on their brand name or related terms (with proper legal guidance) if you can convert that traffic efficiently.

Keyword Expansion or Refinement: If competitors are bidding on high-volume keywords but they're not converting as well for them, consider refining your keyword targeting to avoid unnecessary spending on these keywords. Alternatively, target long-tail or niche keywords that your competitors may have missed.

✍️ 2. Adjusting Messaging Strategy Based on Competitors
A. Analyze Competitor Ad Copy
Regularly review your competitors' ad copy to understand how they're positioning themselves. Look at their headlines, descriptions, calls to action (CTAs), and unique selling propositions (USPs). Based on this information, adjust your messaging:

Highlight Differentiators: If competitors are focusing on one feature (e.g., free shipping), make sure your messaging emphasizes a different benefit that sets you apart (e.g., faster delivery or a wider product selection).

A/B Test with Competitive Copy: Test variations of your messaging to see how your ads perform against competitors. For example, if a competitor is using "limited time offer," you can test adding urgency to your copy with phrases like "ends today!" or "limited availability."

Adjust CTAs: If competitors have compelling CTAs (e.g., "Shop Now," "Get Started"), test similar or even stronger CTAs in your ads, such as "Unlock Your Savings Today" or "Get Your Free Trial."

Test Emotional Appeal: If competitors are using logical appeals, try adding an emotional appeal to your ads. Use language that triggers desire or solves a pain point (e.g., "Feel the Difference" vs. "Shop Now").

B. React to Competitor Promotions
When competitors launch promotions (discounts, limited-time offers, special deals), adjust your messaging to stay competitive:

Leverage Your Offers: If competitors are promoting sales, you can counter with your own special offers. For example, if a competitor is offering a 10% discount, you might offer a 10% discount + free shipping or other value-added perks to differentiate your ad copy.

Emphasize Urgency: If your competitors are running promotions, make sure your messaging conveys urgency. For example, "Only a Few Left at This Price" or "Limited Time Offer" can encourage users to act quickly.

Create Competitive Offers: When competitors run high-impact campaigns, consider launching your own promotions or time-sensitive offers to keep your brand top of mind. This could be through exclusive deals or by highlighting a better value proposition (e.g., loyalty points, bundled offers).

C. Refine Ad Copy for Target Audience
Review competitor targeting strategies and refine your messaging to appeal more strongly to your specific audience:

Persona Alignment: If your competitor's messaging is generic, tailor your ad copy to appeal to your specific audience persona, highlighting pain points and benefits that resonate directly with their needs.

Localized Messaging: If you observe competitors tailoring ads based on geography, use location-specific messaging to appeal to regional preferences and needs. For example, if you're in a particular city or area, mentioning local context (e.g., "Shop the Best Deals in [City Name]") can make your ads more relevant.

🔄 3. Ongoing Monitoring and Adjustments
Once you adjust your bidding and messaging strategy, it's crucial to continuously monitor competitor activity and your own performance:

Monitor Auction Insights: Keep an eye on Auction Insights and adjust bids accordingly if you see competitors changing their bidding strategies or gaining more impression share.

Ad Performance Metrics: Regularly evaluate your CTR, CPC, and conversion rates to see how your adjustments are impacting results. If you notice certain competitors consistently outperforming you, further refine your bidding or messaging strategies.

Competitor Ad Changes: Use tools like SEMrush, iSpionage, or SpyFu to monitor competitor ad copy and messaging shifts. If they launch a new campaign or product, assess whether you need to adjust your bids or messaging to respond to their changes.

Conclusion
To stay competitive in Bing Ads (or any paid search platform), it's critical to adapt your bidding and messaging strategies based on competitor activity. Regularly analyze auction insights, ad copy, promotions, and keywords to adjust your approach. By being responsive and strategic, you can optimize your bids and craft compelling messages that attract more clicks and conversions while keeping your campaigns competitive.