With social media marketing becoming another major sector of digital marketing, it is really important to get to know how your competitors are using the social media platform to market their products and services. Facebook is one of the most used social media platforms and hence advertising your product on facebook in the right way will help you gain leverage over your counterparts. Studying the competitors facebook ads and their advertisement strategy will help you spice up your campaign and make it unique and innovative to attract more customer base.
Why do we need competitive analysis?
Competitive analysis makes use of the competitor’s campaign data to study the customer reaction patterns tocompetitors facebook ads. It is very important to study advertisements that attract more customers as well as those that manage to not create a buzz among the customers. Studying this data will help you manage your campaign in such a way that you can target the competitor’s customer base too.
Analysis will help you save innumerable time invested in split testing(A/B) and also money spent on creating valuable advertisements. Also, targeting your competitor’s fan base is easier as you are already aware that these people are interested in the product or service. All you have to do is convince them to use your brand and experience your customer centric service through your advertisements. You can also use facebook to start a customer service for all your customer’s queries and problems
Ways to spy on competitors facebook ads
Use the “Info and Ad” tool on facebook
Facebook had launched this feature to increase more transparency. However, as a brand owner you can use this feature to your advantage. All you need to do is , visit the competitor’s facebook page and scroll to the Info and Facebook Ads tab on it. Startups can use this feature extensively to analyze how competitors are marketing their product. The geographical feature will inform you if the competitor has launched the advertisement in your area or other areas too.
But, you also need to know that competitors can also use this feature to study your advertisements. Most competitors mark advertisements as inappropriate to enable facebook algorithms to push advertisements down. The Ad and Info tab does not show you the likes, comments or shares that the advertisement has received.
You can learn more about the targeting information by clicking on “Why Am I seeing this ad”
The competitor’s targeting tactics can be analyzed with the help of this tool. All you have to do is click on the three dots near the ad. Select “Why am I seeing this Ad”. The details mentioned in this section will help you understand what prime tactics and strategy have your competitors used to target their customers. In the above image you see a detailed explanation as to why you are seeing this advertisement.The above details mention that the ad is being shown as you have recently visited the website. It will also specify what age groups the competitor is trying to target.
How to find competitors facebook ads
However, one major concern about using this feature is how would the competitor’s ads start appearing in your facebook profile. Here are a few steps find competitors facebook ads :
Liking competitor’s facebook page or their advertisements
Many facebook ads are targeted for people who like the facebook page and regularly view posts and updates on the page
Visiting their website
Many marketing campaigns are designed in such a way that when you visit websites, a notification is sent to facebook to enable advertisement viewing for you.
Joining their mailing lists and subscribing to their email updates
You can visit their website and register with your email Id. Make sure you choose the “subscribe to email updates” option
Use Facebook’s Ad Library to find competitors facebook ads
Facebook has launched its own Ad Library. You can filter advertisements based on the name, topic, or organization.All you have to do is type the name of the topic and you will see all the ads related to that topic.You can also search advertisements based on the country where they are launched, all active and inactive ads,Specific page feature to check if the company advertises using that term.With its granular filtering options,facebook ad library is a very cost effective and efficient platform for all its customers. You can easily spy on competitors facebook ads through this feature.
How to find competitors facebook ads using external tools?
There are many external tools available in the market today that will provide you a detailed insight about the competitor’s advertisements campaign, how many people they have managed to target and the locations where these advertisements are viewed the most. They also allow you to analyze and study the competitor’s top ranking content.
How to use the data collected about the competitor’s facebook ad?
Know about the competitors
There are some competitors that are established and there are some that are still budding. Make sure you determine what is your correlation factor with such competitors.Also, check the strategy of established companies and look for the kind of content, concepts and designs they are using to lure targeted population.
Study for how long the facebook advertisement is active
If an advertisement disappears instantly, analyze it to know what went wrong. Make sure you do not make the same mistakes that they had made. Also, go through those facebook advertisements that have been around for a long time.Make sure you document even the minute details and use the information to plan your ad campaign.
It will take some time to attract more potential customers through new facebook launched ad campaigns. Hence, make sure you launch a campaign only after studying the competitor’s strategy to eliminate maximum mistakes. This will help you save more time and money wasted in launching advertisements that will not attract any customers.