Google recently announced that their Keyword Planner tool will now include Google AdWords competitive analysis data alongside their normal reporting.
These enhancements add new two new keyword competitor tools to Google's keyword planner interface and are intended to help the user compare his or her search term coverage to other advertisers.
Specifically, they've added two new metrics by which you can review your relative ad impression share:
Market Leaders: The first metric displays the top five market leaders across all of the user's generated keyword ideas. It looks like this:
Similar Advertisers: The second new metric serves up similar advertisers from various keyword categories. See below:
Okay, so what do they actually do?
In Google's own words, the user is intended rely upon the Market Leaders metric to "prioritize where keyword expansions may be most impactful." The example they provide is that of a user entering a new market space that might need a shallow glimpse into the keyword strategies for leaders who have already invested in the space.
The Similar Advertisers report can help the user find underutilized keywords where "ad impression share is low compared to other advertisers," opening up opportunities for keywords that could be easy wins compared to the more sought-after terms.
There's a lot of great data contained in these reports, but Google's competition metrics only scratch the surface of what you'd need to do a full-scale competitive analysis.
If anything, Google's new tool only serves to show how necessary a tool like SEMrush is to obtaining a more complete picture of your competitive landscape.
When you use Google's new metrics as the jumping off point to begin a deeper dive into competitive analytics, you see where SEMrush truly shines.
Let's look at some of the ways SEMrush differs from and complements these new tools from Google.
Time and Monetary Investment
To take advantage of this competitor data from Google, the user must already have an active AdWords campaign.
Depending on your level of sophistication with these tools, creating an account from scratch might represent a pretty significant investment of time on your part.
Additionally, the AdWords account in question requires an undefined level of historical data from which to mine these suggestions, which means that your account must have an established history of activity to get this feedback.
So, in addition to the time you need to get a truly representative sample, you've also got a monetary investment to contend with before you're able to take advantage of these new reports.
Lack of Context
Because Google's competitor data is based on keywords from a list of proposed ideas, the final results may not be as narrowly focused as expected. For example, the suggested keywords in the Ad Group Ideas List may contain keywords that aren't exactly relevant to your site.
That's why professionals perform so much regular maintenance on their AdWords keyword lists. If PPC management meant simply using the words that Google's Keyword Planner tool suggests, without refinement or testing, anyone could do it. But anyone who has worked with AdWords knows that your account would hemorrhage money with little result if that was your strategy.
Working without the proper context while identifying your competitors could result in a campaign built around similarly spurious logic. That's why SEMrush also shows you our suggested Phrase Match Keywords and Related Keywords for your queried keyword.
Another missing piece in the contextual puzzle for this data is that of historical performance. Google's data shows you the competition right now. But having access to historical data gives a lot more context to the information you're seeing. Could these be seasonal terms? How long has this advertiser been ranking for these terms? These are important questions that can't be answered without historical data.
Transparency and Depth
The data contained in Google's competitor reports lacks both transparency and depth. How are these competitors chosen? What are the criteria? There's little transparency to the process by which the competitor domains are suggested.
As far as depth of data, SEMrush also shows you copies of the ads themselves AND any Product Listing Ads (PLAs) that are related to your competitor's domains and your keyword.
How many of the keywords in the Suggested Keywords list are Google's supplied competitors bidding on? What's their ad budget? What's the estimated cost-per-click (CPC) for those terms? Is the keyword trending?
The competition metrics from Google's Keyword Planner tool don't show any of this data. SEMrush does:
And keep in mind that suggesting these keywords and domains ultimately increases bidding on those same terms, which is advantageous to Google. I'm not saying this in a cynical way, but it is something to consider. It doesn't do Google much good to incentivize bidding wars on keywords that don’t cost much money to bid on in the first place.
The Dynamic Duo
It may sound like I'm saying that the data Google is supplying here is without value.
On the contrary, the data gleaned from Google's Keyword Competitor tool can be extremely useful – it just needs some fleshing out with additional data to make it truly actionable.
SEMrush takes the competitive intelligence that Google's new tools provide and gives it both the context and depth you need to make informed decisions about your digital marketing strategy.
What do you think? Sound off in the comments!