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The Adwords Advisor report takes a lot of the guesswork out of finding great ways to improve your Adwords campaign. But, choosing the right competitors is the one way to make the recommendations even better.
Let's look at a few examples. Let's say your domain is Homedepot.com. Your obvious direct competitors are Lowes.com and AceHardware.com. Choosing those domains as your competitors will give you good results.
But, you could also get more focused results by thinking of your domain in verticals. For example, Homedepot sells appliance AND electrical supplies. So, you could run an Adwords Advisor report naming appliance stores as your main competitors (AJMadison.com, AppliancesConnection.com, etc.) And you could run another one with electrical supply companies (WiringProducts.com, ElecDirect.com, etc).
The recommendations in those three reports will all be high quality, but they'll be very different. Feel free to experiment. Run multiple reports for the same domain but with different competitors to get a feel for it.
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