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If your budget is tight due to the current economy and you still want to promote your internet business, I would recommend that you take a close look at keywordspy.com. It is one of the best keyword spying tools on the market today if you are looking to find out what your competitors are doing to launch some profitable PPC campaigns. It is a paid service but it also provide a limited free component that allow you to launch some small campaigns and than when you have some success, you can migrate to the full service.

In the following example I will provide you with some tips as to how you can use the free keyword spy portion of the service to spy on your competitors and manage your PPC campaign risk by a significant factor.

Let’s assume that we are looking for profitable PPC ads in the forex market. Let’s log into keywordspy.com and type forex trading up top in the free search box. Keywordspy will display your top 10 paid competitors and also your top 10 organic competitors. Our focus is on the top 10 paid competitors as we are trying to identify the most successful ads. The first competitor forex.com/beginners shows only one keyword so we should probably look at the rest as they show a significant number of keywords that we can analyze.

On the top right corner there is a time machine tab and if you click on it it will provide you with the top 10 competitors for the month of Feb 2009. The next step is that we want to manually cycle thru the previous months and find out which competitors were showing up in the top 10. Once you find out the most consistent domains, than you can start drilling down and analyze their ad content, position and cost.

If you spend enough time here, I can assure you that you will be ahead of the game and you will hopefully make money faster and cut down your risk by a significant factor.