Overview

Maximize the efficiency of your paid advertising strategy by adjusting your ad spend based on real-time competitor performance. With insights from Grips, you can make informed decisions on when to ramp up your ad budget or scale back spending to ensure optimal returns on investment (ROI).

Target Audience

Marketing Managers and Leaders

The problem you face

Marketing leaders often find themselves making ad spend decisions without a comprehensive understanding of market dynamics. This lack of visibility can result in misallocated budgets—spending on ads when the market is underperforming or missing opportunities for high ROI when demand is strong. Decisions based on limited knowledge can lead to wasted ad spend and missed revenue potential.

Our solution

Grips Intelligence offers invaluable insights into market and competitor performance, enabling marketing leaders to optimize their ad strategies effectively:

Market Demand Insights: When competitors are experiencing lower revenue while the overall market performs well, Grips indicates that increasing ad spend could capture additional market demand.

Competitive Performance Monitoring: If competitors are generating significant revenue from their paid ads or promotional campaigns, Grips recommends holding back on ad spending to avoid wasted resources.

Market Condition Alerts: Grips provides real-time updates on both market and competitor performance, guiding marketing leaders on when to pause ad spend if the market is declining, ensuring they spend wisely.

Benefits

Increased ROI: By aligning ad spend with market conditions and competitor performance, businesses can enhance their ROI from paid advertising campaigns.

How to guide

Creating a New Report

1. Set Up Your Competitor Report
   In the Head-to-Head Analysis section, start by selecting Create a New Report. Choose the competitors you’d like to include, and save your selection.
2. Navigate to Performance Over Time
   Scroll down to the Performance Over Time section to view daily and overall revenue performance for each competitor. This section provides valuable insights across several metrics—use the Metrics Dropdown to switch between revenue, conversion rate, sessions, and other key indicators over time.

Using Real-Time Data to Optimize Paid Ad Spend

Analyzing your competitors’ real-time performance can guide your paid ad strategy. Here are some scenarios where adjustments to your ad spend could make a difference:

• Competitor Revenue Surges
  If you notice a competitor’s revenue increasing due to promotional activity, it might be wise to temporarily reduce your ad spend. This prevents you from competing directly against their promotion, helping you save budget.
• Competitor Sales Dip on Specific Days
  When a competitor’s sales decline on certain days of the week, you have an opportunity to increase your paid ads to capture additional market share. Timing your spend strategically allows you to capitalize on competitors’ weaker days.
• Industry-Wide Decline
  If a competitor’s sales are declining, check whether other competitors are experiencing the same trend. A broader market decline may indicate that it’s best to pause or reduce paid ad spend until conditions stabilize, preventing you from overspending during a period of low demand.