Businesses everywhere are learning the simple task of how to use their competitor’s Facebook ads to their advantage. When trying to create a successful Facebook Ads’ strategy, companies must study their competitors’ actions and how they use the powerful platform. Taking some time to conduct this research can help companies study what form of content and publicity resonates with their target audience. It also allows them to analyse what ads are performing successfully and gaining traction. Equally important, they are able to save money by not replicating their competitors’ mistakes, amongst other things.
Finding the ads that your competitors are currently running on Facebook is surprisingly easy and can give a lot of insight. On the left side menu of every public Facebook page, there is an “Info and Ads” tab that reveals every publicity that is being run by the company. After selecting it, individuals are able to see the ads that are currently being run by the page.
Using Fenty Beauty, a popular cosmetic brand, as an example, we notice right away after clicking on the ads tab that we gain instant access to the ads that are being run by them.
Furthermore, clicking the “Why am I Seeing This?” option on Facebook ads can also give users access to a ton of data concerning competitors’ targeting tactics. The feature might reveal, for example, that individuals are viewing the ad because the marketer is targeting a specific age demographic in a region of the world.
The focal point of doing all of this research is to be able to strategically use all of this data to your advantage. Despite findings revealing a lot of information about what could potentially work well for your business’ ads on Facebook, you will still need to further investigate and conduct experiments. By running tests on different hypotheses, you can evaluate the performance and accuracy of the many findings.
In conclusion, this information allows individuals to leap into the world of Facebook ads to study what makes them successful and how they can be further developed. Researching and analyzing the competition is an integral part of producing a great strategy. While it may be true that certain strategies work well for competitors, they might not necessarily work well for your company. By coming up with ideas that can be tested, you’re able to tangibly monitor what tactics could be a perfect fit for your business.