How do you identify competitors' keywords and bidding strategies?

Identifying competitors' keywords and bidding strategies involves a combination of research, tools, and analysis. Here's a comprehensive approach to uncovering this information:

### **1. **Use Competitive Analysis Tools**

**a. **Keyword Research Tools**
   - **SEMrush**: Offers insights into competitors' top keywords, their estimated traffic, and CPC. Use the "Domain Overview" feature to see the keywords your competitors are bidding on.
   - **Ahrefs**: Provides data on competitors' organic and paid keywords, including traffic estimates and keyword difficulty.
   - **SpyFu**: Allows you to see the keywords your competitors are targeting in both organic and paid search, along with their estimated ad spend.

**b. **Bing Ads Tools**
   - **Bing Ads Intelligence**: A keyword research tool that provides insights into search volume, keyword suggestions, and competitor keyword data within Bing Ads.
   - **Auction Insights**: Available in Bing Ads, this report shows how your performance compares to competitors in the same auctions, including impression share and overlap rates.

### **2. **Analyze Competitor Ads**

**a. **Search for Competitor Ads**
   - **Manual Search**: Perform searches for keywords relevant to your industry and observe which competitors' ads appear. Take note of the keywords they use in their ad copy.
   - **Ad Copy Analysis**: Analyze the ad copy of competitors to identify recurring keywords and themes. Pay attention to headlines, descriptions, and calls-to-action.

**b. **Use Ad Preview and Diagnosis Tool**
   - **Bing Ads Preview Tool**: Use this tool to preview ads for specific keywords and see how competitors are positioning themselves. This can also help you avoid ad fatigue by understanding what users see.

### **3. **Review Competitor Landing Pages**

**a. **Landing Page Content**
   - **Keyword Integration**: Examine how competitors integrate keywords into their landing pages. Analyze the relevance of their landing page content to their ads and keywords.
   - **Conversion Elements**: Identify the key conversion elements on their landing pages and how they align with the keywords used in their ads.

**b. **Use Web Scrapers**
   - **Content Extraction**: Use web scraping tools to extract content from competitor landing pages to analyze their keyword strategy and page structure.

### **4. **Leverage Industry Reports and Benchmarks**

**a. **Market Research Reports**
   - **Industry Insights**: Obtain industry reports that may include keyword trends, average CPC, and competitor benchmarking data.
   - **Benchmark Reports**: Review benchmarks and performance standards within your industry to understand typical keyword strategies and bidding practices.

**b. **Competitive Benchmarking**
   - **Compare Metrics**: Use industry benchmarks to compare your performance with competitors in terms of keyword performance, CPC, and ad positioning.

### **5. **Engage in Competitive Intelligence**

**a. **Monitor Competitor Ad Spend**
   - **Estimated Ad Spend**: Use tools like SEMrush or Ahrefs to estimate competitors' ad spend and understand their investment levels for different keywords.
   - **Budget Allocation**: Analyze how competitors allocate their budgets across various keywords and campaigns.

**b. **Track Competitor Activity**
   - **Seasonal Changes**: Monitor how competitors' keyword strategies and bids change over time, especially during peak seasons or promotional periods.
   - **Ad Copy Changes**: Track updates to competitors' ad copy and landing pages to identify shifts in strategy or new keyword focuses.

### **6. **Conduct Manual Research and Testing**

**a. **Create Test Campaigns**
   - **Competitive Campaigns**: Set up test campaigns targeting keywords you believe competitors are bidding on. Analyze the results to infer their bidding strategies and keyword focus.
   - **Adjust Bids**: Experiment with different bid amounts to gauge how competitive certain keywords are and adjust your strategy accordingly.

**b. **Competitive Insights Gathering**
   - **Surveys and Feedback**: Gather feedback from customers or industry peers about competitor ads and keyword strategies to gain additional insights.

### **Example Implementation**

**Scenario**: You want to understand your main competitor's keyword and bidding strategies to refine your own Bing Ads campaigns.

1. **Use Competitive Analysis Tools**:
   - **SEMrush**: Conduct a domain overview for your competitor. Review their top keywords, estimated traffic, and CPC.
   - **Bing Ads Intelligence**: Use the tool to get keyword suggestions and see competitor keyword data within Bing Ads.

2. **Analyze Competitor Ads**:
   - **Manual Search**: Search for relevant keywords and note the competitors' ads that appear. Document their ad copy and keywords used.
   - **Ad Preview Tool**: Use Bing Ads Preview Tool to see how your competitor's ads appear for specific keywords.

3. **Review Landing Pages**:
   - **Content Analysis**: Visit competitors' landing pages and note how they integrate keywords. Look for patterns in content and conversion elements.

4. **Leverage Industry Reports**:
   - **Benchmark Reports**: Obtain industry benchmarks to compare keyword strategies and CPC with your competitors.

5. **Engage in Competitive Intelligence**:
   - **Ad Spend Analysis**: Use tools to estimate competitors' ad spend and budget allocation. Analyze trends and shifts in their strategies.

6. **Conduct Manual Research**:
   - **Test Campaigns**: Set up test campaigns targeting suspected competitor keywords. Evaluate performance to gain insights into their bidding strategies.

By systematically identifying competitors' keywords and bidding strategies, you can gain valuable insights to refine your own Bing Ads campaigns, improve your competitive positioning, and enhance overall performance.