Your brand is different from the competition. You sell better products and services. You have more talented people. And you’re truly committed to serving your customers. The only problem is: Prospects don’t always know that.
You have to educate them on why your brand isn’t like the others selling in your space. But to do that, you need to get your message across more effectively than the competition does. After all, if the only advertisement a prospect sees is for your top competitor, it doesn’t matter how much better you are—they don’t know who you are or why you exist.
The first—and most important—step to countering the competition’s message is understanding which sites they advertise on. To do this, you’ll need an ad intelligence solution. Ad intelligence solutions like Pathmatics use proprietary data to track where and how brands spend on digital ads, and the impressions they receive. This data, in turn, provides a competitive advantage to brands serious about maximizing their return on ad spend.
Here are four reasons you’ll want to learn what sites your competition advertises on as soon as possible.
1. You’ll counteract competitor moves.
The most obvious—and important—reason to see where competitors are advertising is to battle them directly for the attention of consumers. If you and a competitor both want to reach people who visit CNN and similar sites, there’s zero reason to allow your competition to advertise in these places unopposed. After all, every inch of digital real estate you give up to the competition is one more place where their message will reach prospects—and yours won’t.
2. You’ll identify opportunities they don’t see.
It’s not just about where your competition is advertising. With ad intelligence, you can see all the places they aren’t advertising. Now they might be avoiding some sites for good reasons: the audience isn’t qualified, it’s too expensive, etc. But, there may be plenty of other sites where they just didn’t think to advertise or didn’t have the budget to cover.
These opportunities give you access to a qualified audience completely unopposed by the competition. That’s a solid advantage when you’re under pressure to get the most return for every ad dollar you spend.
3. You’ll better understand their overall ad
Deep dive into the sites on which your competition advertises and you’ll start to pick up on their strategy. You’ll never know everything going through your competition’s head. But seeing a list of the sites they advertise on for any given time period and how that changes over time? That’s a pretty powerful way to understand their motivations. Pair that with information on how much they spend on each site, and you’ll start to build a clearer picture of goals and motivations.
You can combine other data points from your ad intelligence software to learn even more. You’ll be able to see which channels your competition is using to advertise on certain sites. A competing brand may be only running mobile video ads on YouTube, but a combination of desktop and mobile video on a different site.
4. You’ll get an inside look at specific ad campaigns.
With ad intelligence software, you can click into an expanded view of brand activity on any site. For instance, in the example below, we can see exactly which products Netflix is advertising on YouTube over a given time period. We can also see the ad paths at work. Why is this information important? It allows you to reverse engineer how the competition is promoting specific products, and see exactly how those are being advertised.
Armed with that information, you’ll be able to not only counteract their efforts, but identify ways to advertise better and/or more efficiently using this data.
The result? Your competition better watch its back.
For even more information on how to get ROI from ad intelligence software, see the related reads below.
- How an Ad Intelligence Tool Provides ROI for Marketing Departments
- How to Convince Your Brand Manager to Spend More on Digital with Competive Intelligence