Doing your research can be the difference between the success or failure of not only a campaign but a business. You need to get it right!
When it comes to marketing its important you are not only aware of what is going on around you, but that you have researched into your competitions tactics so you can implement those successful techniques in your own efforts.
First of all, we recommend you look at a range of around 5 competitors; specific to you.
Look at their strengths that you are wanting to improve in:-
PPC Campaigns etc
Also pay attention to the content they post on blogs, social media pages and websites, is it humorous? Does it inform? Is it relational? What are they trying to promote?
Remember, all this information should be used to your advantage, to help in your favour, it really is worth the extra time!