50 million businesses use social media platforms like Facebook to launch marketing campaigns for their companies. That’s not all it can be used for; in fact, Facebook is the perfect place to keep an eye on the ads your competitors have put in place.
Are you ready to learn about how to pull off the ultimate spy mission? We’ll share some need-to-know information about the Facebook ads spy tool, otherwise known as the Facebook Ads Library, and how to use it to your advantage.
The only thing left to say is don’t get caught!
What’s the Point of Spying on Competitors?
The first thing you’re probably wondering is why you need to use the spy tool in the first place. There are several reasons you need to use it, including it gives you a leg up on the things your competitors are doing that do and don’t work.
This means instead of wasting your time doing the same things, you can avoid making these errors altogether. It’s like being taught how to create a Facebook ads campaign the right way and ensure you don’t waste valuable company time and resources.
Another reason you need to monitor what your competitors are doing is to gain insight into what your target audience is responding to. If they respond to specific types of content more than others, you must begin implementing this content in your marketing strategy.
When it comes to your target audience, there are features in the ad campaign section that allow you to target your ads appropriately. If you don’t know who your target audience is, it means your ads won’t be seen by the right people.
Still not seeing a reason to watch your competitors? Okay, we’re going to let you in on the most significant reason of all, and it’s that it’ll save you money.
Where Can I Find the Ads?
We’ve told you why it’s beneficial for you to check out your competitors ads, so it’s time to figure out how to find them. Most people searching for ads launched by others use the Facebook ad library.
The ad library is in place because it’s one of the critical components of Facebook’s policy to increase transparency. This policy was created because of issues in transparency that occurred during the political election season.
It aided in preventing people from interfering with the election in any way. In the ad library, you’ll be able to see things including:
- How much was spent on the ad
- Who the ad reaches
- Who backed the creation of the ad
Using the Facebook ad library to find ads created by your competitors, you will first need to visit your competitor’s profile. Once on their profile, scroll to the bottom until you find the words ‘page transparency.’
In the top right-hand corner of the section, you’ll see the words ‘see all’, and you need to press it. After the tab has expanded at the bottom, you’ll find the button to take you to the ad library, where all of your competitor’s ads are archived.
If you don’t want to go through the trouble of doing all this, you can use the Facebook ads library app. The best part of this app is you don’t have to have a profile on Facebook to use it.
What to Make Note Of
Now that you know how to spy on competitors’ Facebook ads, you need to know what to devote your attention to once you’ve found their ads. If you don’t see what you’re looking for, you won’t understand what you should be doing as you create your own ad campaign.
If you’re starting to feel a bit crazy, rest assured your competitors are spying on your ad campaigns too. Performing competitor research is a massive part of doing business.
To maintain a competitive advantage over others, you’ve got to consistently know what they’re doing. This will help you stay one foot ahead, maintaining your position as the preferential company in your industry.
As mentioned above, you need to implement certain forms of content in your ad campaign that will increase audience engagement. This is to ensure you maintain balance and cohesion throughout your campaigns.
Producing too much of one form of content will have the opposite effect on your audience. If you’re not sure which form of content gets the best reaction, you can use the impressions metric to monitor this.
Speaking of impressions, this is something else that needs to be monitored. Impressions are when an ad is showing on a screen. As you monitor your competitor’s ads, you’ll be able to see how many times their ads are being shown.
This can help you determine what you set your ad frequency at within the Facebook ads manager section. Running your ad too many times can become overwhelming and annoying for consumers.
Not running the ad enough means you’re not standing out in the minds of consumers, which can directly affect your business sales.
Duration of Current Ads
To monitor this metric, you need to know which ads your competitors are still running. This means you might have to go as far back as sixty days to find them.
As you do this, you might begin to see a trend in the types of ads they run. The reason for this is that if a specific ad has been know to do well, your competition isn’t going to deviate from that.
In fact, they will continue to create future ads to monitor the one that brought them the most success. You’ll also find examples of others ads your competitors are testing to determine if they will get the same interaction as the previous ones.
53% of millennials have admitted that when they are shopping, they look for some type of deal or coupon. People love to save money when making purchases.
If you notice more people are shopping with your competitors, see if they are running specific deals or coupons. If you find that they are, make a note of what they’re doing and find ways to improve upon their method.
By doing this, you’ll increase the number of people that begin shopping with your business. Why are these discounts being provided? Are they only provided for products that aren’t selling?
What type of coupon is it?
You can click on the ads and checkout the landing page that the advertiser is using (if they’re not using Facebook Lead Ads). This can also help you generate idea to help improve your own landing pages and increase conversions.
Messaging / Copy
If you want your ad to connect with people, you need to pay attention to every aspect of the copy. This means creating a title that will get people to pay attention to, then hopefully click on your ad.
If the title of your ad isn’t captivating, people are going to scroll over it. After the message’s title, you need to think about what you’re writing in the body.
Just because you’ve captured someone’s attention doesn’t mean you can’t lose it if you’re not sharing information they find beneficial. Remember, when you create products or offer services, it needs to fulfill your target audience’s needs or problems.
Otherwise, they won’t have a need to buy from you. Make a list of the points you wish to address, and ensure you touch on each of them in the body of your message.
Using the Facebook Ads Spy Tool
If you haven’t started using the Facebook ads spy tool yet, we’re sure you’re doing so after checking out everything we had to say above.