This chapter covers the basic research we should conduct as we consider advertising with AdWords. Before we start competing in an online ad auction, we need to understand how saturated the market is and what our competition is doing in the online ad space. The first recipe explains how to identify our pay-per-click (PPC) competitors, while the next two recipes will help us analyze how much our competition is spending on AdWords. The final recipes will guide us on how to use this competitive information to set our own spend-and-bid goals and then calculate the potential return.