There is a new software that was launched on 27th March called Under Cover Profits. It basically helps you sniff out profitable campaigns by monitoring Adwords ads for a period of time. If the ad is running everyday for a month for a specific keyword then its very likely that the advertiser is making money. You would of course have to key in all the keywords that you’d like to monitor and Under Cover Profits does the rest. There are only 300 licenses available and I would have signed up for it had it been a little cheaper. The software is subscription based and costs a whopping $291 a month.
Keyword Elite pretty much offers the same feature but Under Cover Profits does provide additional analysis and rates the profitability of each keyword/ad. In my most recent campaign I’ve pretty much relied on competition analysis to determine profitable keywords. This is beneficial especially in highly competitive niches where the CPC’s are high. Relying on competition analysis saves you the money that you would have burnt in testing the keywords on your own.
It is of course despite the claims not as simple as copying your competitions keywords and ad copy and bam…you’re making money. That would have very likely been the case for direct linking ads where all variables are the same e.g just use the same keyword, ad copy and direct link. With the constant Google slaps I’ve noticed fewer direct linking ads and more landing pages. Unless you’re copying your competitions landing page word for word (which of course is highly unethical) it is difficult to get the exact same results as even the slightest differences in the landing page such as font size or background colour will effect your profitability.
In a nutshell, there will still be a fair amount of testing required on your part but competitive analysis does give you that edge. As long as you have this in mind you won’t be dissapointed with competition analysis software that claim instant plug in profits.
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