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Unfortunately this is not an option as your competitors’ actions have as greater affect on your campaign as you do.
More importantly though you want to get the best return you can for your money and you can only do this by knowing what is happening to your and your competitors’ adverts.
There are various online tools such as Google Analytics™ that let you understand the Pay Per Click market but they are complex and require a great deal of time to master.
I wouldn’t advise this course of action, afterall it would be a bit like a turkey voting for Christmas, however I do have my reasons.
The main one being it requires a great deal of monitoring and daily tweaking and if you give it to someone in house without actually creating a new job, it will probably be neglected.
If this happens it won’t work very well and if it doesn’t work well you’ll ditch it.