Competition stole your ad position. You're blind to it.
Have you seen a change in competitor bidding?
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Have you ever worked with a team that had you defending your channel weekly?
I worked with a leadership team that knew nothing about paid media.
There was one week when the pipeline dropped by 30%, and the spend remained stable.
The leadership team’s immediate reaction was “Let’s reduce paid spend”.
The paid channel became the main discussion in the Slack marketing channel.
Other channel owners started suggesting taking the paid budget and plugging it into their channel.
I saw that some of the leadership team were commenting in a thread agreeing with this change.
On top of this the CMO gave a thumbs up to shifting the budget.
It’s less about shifting the budget and more about the reporting dashboard.
I noticed that the marketing dashboard didn’t report competitor activity.
Competitors are bidding more aggressively to remain relevant in the auction.
The main marketing dashboard didn’t show the data from the auction insights report.
The auction insights report helps me to understand how aggressively the competitor is bidding.
This redirects my actions for the coming week.
Rather than just decreasing the budget, I will use the data to steer the next steps.
This will include:
Refreshing the ad copy to highlight wins unique to the business.
Adjusting the bids to be slightly aggressive in the auction.
Doing keyword optimisation on the keywords seeing a decrease in the impression share.
This week, ask yourself whether:
Does my ad copy say something that my competitor can’t?
Where am I being outbid and by how much?
Which keywords lost impression share last month?
If you answered no to any of these, book a competitor strategy call before your next leadership meeting.
Book Now - https://calendly.com/launchlanedigital-info/strategy
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An audience first marketing newsletter, helping B2B companies lead with their audience rather than the marketing platform.