Before you run Facebook ads, it’s vital you conduct a competitor analysis. This activity helps you improve your strategies and know what is working or not. It also helps you pay attention to the activities that makes your competitors facebook ad succesfull which in turn shapes yours. When you skip conducting research on your competitors, you might miss out on potential ideas that could grow your business.
Benefit of conducting competitors research
- It helps you know your competitors strength and what they’re doing to get certain results.
- It helps you identify your competitors weakness, gaps and opportunities you can take advantage of.
- You can get better ideas for social media ads.
if you are wondering how to conduct competitors research, here are some of the most important ways you can use your competitors’ ideas to the success of your campaign.
1. Visit your competitors landing pages:
When you see your competitors ad on Facebook, follow the ads. Click on the learn more or any call to action you see. Read up the content on the landing page. Take notice of your competitors’ choice and structure of words, graphics designs and ad copy.
2. Visit the Facebook Ads library:
The Ad library is a place where you can search for ads that are running across both the Facebook and Instagram platform.
The tool is designed to offer advertisers and marketers ways to improve their own ads by studying the active or inactive ad campaign on Facebook.
This way making your own campaign effective. Check this video to get a walk through on using Facebook Ads Library.
3. Using the Facebook ad “Why am i seeing this ad?” option:
Whenever you see a competitor’s ad on your feed, the best thing to do is to click on the three dot at the top right corner of the ad, then select the Why am i seeing this ad?” option. It provides you additional information and insight into your competitor’s audience targeting options. [see the image below].
The image below is an example of such. This is an ad for Semrush. From the image below, you can see that the reason why i am seeing that is because Semrush target people who are interested in E-commerce, people who have exhibited a consistent action such as liking pages and clicking on ads.
This does not necessarily mean that this Facebook follows Semrush. But they are a lookalike audience to the warm or custom audience of this advertiser.
4. Check and analyze your competitor’s top-performing Facebook content.
In addition to getting Facebook targeting insight from the ‘why am i seeing this?’ option, you need to analyze their top performing organic content to get more insight on the type of content they put out that performs well.
You can also check their community and comment section to get access to their customers complaint. This aids you in writing your Facebook ad copy.
Here are tools to help in content analysis. These tools will enable you discover everything that is being said about your brand and your competitors on Facebook and any other social media platform.
This is content marketing tool built to give marketers insight on content analysis, competitor analysis, monitor brand mentions, identify trends, gather topic ideas and more.
- Hootsuite Stream
This offers an easy way to engage with your audience and keep track of social activities such as; conversation, mentions, keywords etc. happening across all your social media channels.
Brandwatch is a social media analytic tool that tracks billion of conversations happening online everyday, including blogs, news, forums, videos, twitter reviews etc., and allows brands to understand consumers insight and trends.
In conclusion, if you want to run a successful Facebook ad campaign, conducting a competitors research gives you an edge.
What strategy do you find most valuable when conducting competitor research on Facebook ads? Tell us in the comment section.