TommyCarey
Level X3
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Running a PPC campaign targeting your competitors names can work, or fail miserably because you waste money on clicks. But if done right you can siphon a good amount of traffic from long tailed keywords targeting your competitor. A few good examples would be if Coca-cola posting a case study about "Coke vs. Pepsi" and then they ran a PPC campaign on the specific page they created. They could target almost any Pepsi related keyword and pull in a good amount of clicks. Doing this is just shedding light on why Coke is better than Pepsi, because why would they run a story on their own website about how their product is inferior lol, they wouldn't 
Coca-Cola could target keywords like:
Pepsi
Pepsi products
Coke is better than Pepsi
Pepsi is better than coke
And so on
The power of this is to get dedicated Pepsi drinkers to see your ad and want to click on it because they want to come in and leave a negative comment, or are just curious to what's being said. If you can get them to the page, you've done most of the battle already. Getting them to sign up or purchase depends on how well your pages is designed
Of course with all of this you'll need to split test a lot of things in order to get the combo just right. You'll need to figure out exactly what keywords are gold mines and which are money pits that don't give you any ROI. A keyword may seem like a gold mine, but if you're not doing the proper tracking, it could actually be wasting you a lot of cash
I would recommend running 10 different ads for the same keyword group within whatever PPC platform you chose and monitor it like a hawk at least once a day. Go through all of your clicks to figure out which keywords have the best CTR combined with the lowest CPC. These keywords are usually your gold mines waiting to be exploited An example of this is when I was setting up a campaign for my marketing company and I was targeting a very large company who makes millions each year. I found a high CTR low CPC keyword and make a duplicated campaign just for this keyword. I increased my daily budget just for this one keyword and brought in 1-2 new clients each day. That may not sound like much, but I wasn't charging $3 to $10 per service ;) I was getting around, on average, 25 clicks a day from just this one keyword and it was making me a lot of money. I talked to my lawyers about what could possibly happen if the bigger company ever contacted me, and he said I was perfectly safe since I wasn't running a negative PR campaign. I was simple showing people that we did more work, for less money and gave higher results lol.
Go try this out, keep your budget low at first and monitor everything like a hawk. You can target multiple competitors at a time but I would do new campaigns for each one so you don't jumble everything together.
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Thanks,
Razzy
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