Before you start spending on ads, it helps to know what your competitors are already doing. Competitor analysis means studying the ads, keywords, and landing pages of businesses similar to yours. This shows you what is already working in your market and what gaps exist that you can fill. If all your competitors are bidding on the same keywords, you might find cheaper and more targeted ones they are missing. It also helps you write better ad copy by seeing what messaging is already out there. How much time do you spend on competitor research before launching a campaign?