Without machine learning reducing the cost of PPC for small businesses, it’s true that they typically aren’t willing to spend the necessary budget to see results. Traditionally (are you sitting down?), —anything under $500 a month is not worth it. In fact (take a deep breath), you probably won’t see great results with a budget of less than $1000 a month.
Competitive analysis is an exercise of comparing your business, product, and service to companies and finding similarities and differences. The most critical part of kicking off a competitive analysis is choosing the right competitors to analyze. Otherwise, you will spend tons of time on competitive research with very limited insight to show for it. In other words, the competitors you select determines how you will perceive your company and the final analysis.

It's quite likely that no prospect or customer reads your press releases as carefully as your competitors do. Press releases are helpful in understanding a company’s strategic focus. Sometimes PRs show your competitors’ customer count. The About section in a press release shows your competitor's strategic messaging. These two to five sentences are how your competitor wants their customers and prospects to perceive the company and its products.
Region-specific marketing is currently utilized in a variety of marketing campaigns. A fairly basic marketing concept can be used, but it is presented to a location or market that has shown a demand for that specific product or service. This can be a certain State, City, neighborhood or even a specific building. Programs like Google Adwords lets you target these specific locations and tailor your marketing. On a more broad scale, you can target a certain demographic based on their language.
3. Video Ads Become More Practical: Video engages viewers extremely effectively, but advertisers have sometimes avoided it because of the perceived difficulty in making a video and the high cost of running video ads. Remember, video ads can be very short, from 15 -30 seconds, depending upon where you run them. To keep production costs down, there will be more and more free video tools provided by advertisers who want your business, for instance, Boomerang, free Instagram video ad creator. In 2018, consider YouTube, which offers a variety of video ad formats and, as part of the Google ecosystem, makes a great bet to place effective PPC ads. Consider Bing advertising, especially for higher-end products, since one-third or their traffic earns over $100k. Look at options to advertise with Yahoo/Verizon, Facebook/Instagram, Amazon (for product ads), LinkedIn video ads (for B2B) and more.
This checklist is broken out into sections that reflect key elements from our Balanced Digital Scorecard. As previously mentioned, this checklist is to help you identify opportunities (and possibly areas not worth your time and budget). But this competitive analysis is not prescriptive in and of itself. It should be used as its name suggests: to analyze what your competition’s “edge” is.

A quick and easy way to compare your product or service with similar ones on the market is to make a competition grid. Down the left side of a piece of paper, write the names of four or five products or services that compete with yours. To help you generate this list, think of what your customers would buy if they didn't buy your product or service.
Many people believe that a competitive analysis is unnecessary because they feel that they have a good handle on who their competition is and what they offer. But a competitive analysis can also be used when trying to break into a new market. By conducting a competitive analysis for an environment you are unfamiliar with, you are able to model a new business that included many features that your competitors are likely to offer as well as some unique ones that may drive customers away from their typical company.
Geo-targeting in the most traditional sense uses IP addresses to figure out where users are. Every internet-connected device has a unique IP. It’s like an address for your computer, tablet, phone, or wearable. The first three digits provide a country code. The digits after that indicate specific areas within a country, down to state, city, and postal code. To learn more about the tech behind geo-targeting, geoedge.com is a good source.
Before we can create our campaign we must clearly understand our target audience. This will help develop the campaign structure and inform the way you create the campaign. The key to successful advertising is truly understanding the wants and needs of your customers. To understand our audience we can ask Who? What? Where? When? Why? This chapter discusses how to understand your audience and build a campaign around their wants and needs.
“Now that the “algos” are perfected, they can be used for accounts as small as 100$ monthly ad spend. While it’s difficult for the small guys to access machine learning on their own, agencies who are servicing SMBs should use tools like ours to manage, optimize and scale multiple accounts. Google Channel Partners, Publishers and Resellers that service hundreds of small-business PPC accounts benefit from our machine learning technology already.”
Beacons aren’t designed to know you’re you, where you were a moment ago, or where you’re going next. By and large, they’re just little stationary computers that react: when your device moves near the beacon itself, it triggers a ping, and your app—if you have an app with notifications enabled for the beacon’s particular location—goes to work communicating with you. When you move out of that beacon’s range, it’s basically a done deal.
Google is constantly refining and adding new tools to AdWords, so remaining active with your PPC strategies is critical if you want to beat out your competition. There’s never a set-it-and-forget-it approach that you can take–as much as one might wish–so it’s important that you test, analyze, re-test, and repeat to find out what is working for you and what is not. Also, keep in mind that while some strategies might work wonders for a particular business or industry, they may not be as effective with yours. Experiment with different approaches, but don’t be too quick to abandon ones that don’t show immediate results. Some investments require time to show their return.
Scanning competitor's ads can reveal much about what that competitor believes about marketing and their target market.[10] Changes in a competitor's advertising message can reveal new product offerings, new production processes, a new branding strategy, a new positioning strategy, a new segmentation strategy, line extensions and contractions, problems with previous positions, insights from recent marketing or product research, a new strategic direction, a new source of sustainable competitive advantage, or value migrations within the industry. It might also indicate a new pricing strategy such as penetration, price discrimination, price skimming, product bundling, joint product pricing, discounts, or loss leaders. It may also indicate a new promotion strategy such as push, pull, balanced, short term sales generation, long term image creation, informational, comparative, affective, reminder, new creative objectives, new unique selling proposition, new creative concepts, appeals, tone, and themes, or a new advertising agency. It might also indicate a new distribution strategy, new distribution partners, more extensive distribution, more intensive distribution, a change in geographical focus, or exclusive distribution. Similar techniques can be used by observing a competitor's search engine optimization targets and practices.[11] For example, by conducting keyword research, one may be able to determine a competitor's target market, keywords, or products. Other metrics allow for detection of a competitor's success.[12] Little of this intelligence is definitive: additional information is needed before conclusions should be drawn.
You may be thinking... Google can index my site and learn what my site is about without keywords now... keywords aren't as important as they used to be... I'm doing fine I don't need any keyword help I have been doing this for years... I said all of those things (and more). The truth of the matter is: as long as we use the written word on line to match intent keywords will be valuable. If you are going to treat yourself to one bit of continuing education this year, this needs to be the one.

Benchmarking is the important key factor for any marketing campaign. You should always keep an eye on your competitors. How their ads are appearing, what keywords they are using and plan your strategy accordingly. Never create ads, which looks similar to your competitor’s ads. You should smartly design your ad copy, which should look better than your competitor’s ad.
That’s right. Unfortunately, all those slight tweaks to your ad copy and bidding strategies actually do very little in terms of turning leads into customers. So, what exactly should you do to PPC campaigns to maximize conversion potential? Don’t fret—there are actually quite a few things, and we’re going to teach you about each one of them. Below, check out the strategies you should be focusing on to achieve ultimate results.
A logo offers a brief glimpse into a company’s branding language. This section will quickly provide your audience with that value, as the different colors and imagery will give life and organization to your document by separating the competitors’ brands from each other. When it comes to adding your competitors’ logos, make sure to use high-quality images. Including words like “vector” and “high-res” to your Google search will bring in superior results. Make sure your logos are consistent across the board. (Most companies have both with-text and without-text logo variations — double check to make sure it’s the same format for each of your competitors.)  
This is really helpful, i just find out the list of top 3 competitors and follow the same backlinks process for my site as well. But here i found some new tips of keyword gap analysis for competitive analysis. Thank you so much for sharing i will follow all your step to do new competitive analysis for my client and try to improve my ranking on most competitive keyword top realtor for Fastexpert.com. Thank you once again.
Competitor analysis is an essential component of corporate strategy.[3] It is argued that most firms do not conduct this type of analysis systematically enough[4]. Instead, many enterprises operate on what is called "informal impressions, conjectures, and intuition gained through the tidbits of information about competitors every manager continually receives." As a result, traditional environmental scanning places many firms at risk of dangerous competitive blindspots due to a lack of robust competitor analysis.[5]
Even national marketing campaigns can benefit from geo-targeting, as regional differences create opportunities to test multiple messages and refine them as a campaign continues. Geo-targeted experiments has been used successfully by businesses, charities and even political campaigns. Factoring out cultural and ethnic variations, there are still subtle regional differences in something as universal as language. A campaign for donations might be better served by using a “donate” button in one area and a “support” button in another. Similarly, customers might respond differently to the phrase “book your trip” than they do to “buy your ticket” or “schedule your trip.” The same goes for the look and feel of the advertising copy and other content.
Instead, SEO now takes a multi-faceted approach where you’re involving different disciplines (i.e. content, email, advertising, social), building a brand (i.e. investing in intangibles, not just conversions), and competing on multiple fronts (i.e. paid search positions, review & aggregation sites like Yelp, TripAdvisor, beefing up your local listings, and more) – all at the same time.
In the print days, taking out an ad in the Detroit Free Press allowed businesses to know that primarily Detroit area residents who could actually visit the business would see the ad in question. Not so in the era of mobile ads which, if delivered indiscriminately and without location context, can be less successful because they aren’t relevant or personal. Ad creative targeted at — and customized for — an Oklahoma consumer versus a New York City one is likely to be more effective in driving a physical sale.
Geolocation technology can also be used for planning virtual events or experiences that combine physical and virtual or augmented reality. For example, the Pokémon GO game was able to parlay geolocation into a great success. Advertisers can use the same strategy to develop virtual experiences around a brand or product. This can involve using geolocation at events to track attendees and deliver specific information that enhances their overall experience.

The first case is quite simple yet happens often. So for example, you have not sold tandem bikes for years (and had the word “tandem” in a negative list), then you started to sell them again. But your PPC specialist forgot to remove the word from negatives, and now you are left wondering why you are not getting any traffic for this keyword. To avoid this situation, check your negative keyword lists regularly and bring the relevant keywords back to life.
WooRank is a freemium tool that provides an “instant website review.” Without a premium account, you are only allowed to generate a limited number of free reports, but you are able to view previously generated reports. Also, the tool currently offers a 7-day unlimited free trial, which gives you access to unlimited reviews. If you’re interested in purchasing a plan, the cheapest one is $49/month.
Although more and more keywords are getting encrypted by Google every day, another smart way to come up with keyword ideas is to figure out which keywords your website is already getting found for. To do this, you'll need website analytics software like Google Analytics or HubSpot's Sources tool. Drill down into your website's traffic sources, and sift through you organic search traffic bucket to identify the keywords people are using to arrive at your site.

It’s easy to notice what your competition is doing wrong, but what about the things they’re doing right? In order to compete, you must dissect all aspects of your competition by completing a SWOT analysis.  What are their customers happy about? What are they complaining about? Use this opportunity to dive into some qualitative competitor analysis. Go online and gather YouTube and Facebook comments, check out conversations on Twitter. If you can interact with your competitors’ customers face-to-face, go out and talk to them. You can use all of this information to your advantage.
Trade AssociationsMost professional trade associations compile and publish industry statistics and report on industry news and leaders through trade association magazines and newsletters. Most trade associations also sponsor trade shows and other professional meetings. This is an opportunity to see first-hand what your competition is producing. It also provides the opportunity to discover new players who may soon become your competition.  
Why make the same mistakes your competitors have made when you can learn from them? As its name implies, SpyFu is a great way to spy on the competition so you can learn from their failures and more importantly, their successes. When you type in a competitor's URL, you'll be able to see how many keywords they are ranking for organically and even the ad value of those keywords. It also offers good analytics on backlinks driving the most traffic to your competitors' sites so you can see where you might want to  publish guest blogs or be listed. If they are running any paid advertising campaigns, you can even see what campaigns they're running and how much they're spending.  
Let’s start with an easy one: target the areas your business serves. If your restaurant has one location in Chicago, set your search campaigns to only show to searchers in and around Chicago! If you’re an ecommerce site that serves the Pacific Northwest, don’t show your ads outside of Washington, Oregon, Idaho, Montana, and Wyoming. This is the most basic way to ensure that you’re not wasting clicks – and money – on consumers who can’t convert.
It would be unreasonable to run a full technical audit of each competitor, but take into account your own site’s technical SEO performance if you know there are outstanding technical issues to be addressed. In addition to the previous checklist items, I also like to use these Chrome extensions from Ayima: Page Insights and Redirect Path. These can provide quick checks for common technical SEO errors.
Starting small will also help you devise a repeatable process that can then be applied across a wider range of search terms as your list grows over time. If you really want to go pro, keyword management tools like Moz Keyword Explorer or SEM Rush’s Keyword Magic Tool can help you streamline this entire process and will allow you to create lists that include hundreds of keywords. 

A competitor's capabilities can be analyzed according to its strengths and weaknesses in various functional areas, as is done in a SWOT analysis. The competitor's strengths define its capabilities. The analysis can be taken further to evaluate the competitor's ability to increase its capabilities in certain areas. A financial analysis can be performed to reveal its sustainable growth rate.
For example, “Austin gyms” or “coffee shops near Dupont Circle” or “uptown restaurants” provide location intent that you can target. Include location terms such as area code, ZIP code, neighborhood, community name, nearby landmarks, popular venues, tourist destinations, well known street names, local jargon and other keywords that will help you get found when a consumer is searching for businesses around you.
Hi Shashixx, there are some free or semi free tools out there. Some only free trial some free with some kind of limitation. smallseotools.com is one like that. You get maximum of 100 backlinks (but then again its free). You should also remember though that you get what you pay for. All these paid tools have lots of additional information or features that are valuable for improving on your seo. At the end i´d say they are worth their investment.