Your Facebook ad strategy doesn’t exist in a void. What others are doing can influence how many people see your ads in their news feed, how many convert, and the return on your investment. It makes sense: if their targeting is more precise than yours, their ad copy more alluring, and their CTA more actionable, then your prospects are more likely to respond to your main competitor’s ads than yours.
Now, picture a tool that allows you to spy on your competitors Facebook ads. Imagine how valuable this information can be and how you can use it to tweak your Facebook advertising strategy.
Is such a thing possible, we hear you ask with excitement. Is there a spy tool that would let me peek at my competitors’ ads?
The answer is yes. Let us introduce you to the Facebook ad library and how it can make spying on your competitor possible.
Back in 2018, Facebook released an ads transparency tool that allows users to view all the active ads a Facebook page is currently running. The social media giant took this step in an effort to address privacy concerns following the Cambridge Analytica scandal.
Although the tool was initially designed to allow users to check on political ad campaigns, it quickly modified its options as people started criticizing it for not allowing them to check on other type of ads too.
Now, you can use the tool to search for ads from your competition, see what they are doing, and deconstruct their strategy. Sure, savvy advertisers might be aware of the fact that the competition may try to view their ads and they might throw a few dead leads to confuse you. But, if you monitor their ads regularly, such as once per month, then you could get a good idea of their strategic goals.
In addition to viewing your competitors’ current social ads, this tool provides extra information too, such as the date the Facebook page was created, whether it changed its name and if so how many times, and so on. Note that you can view past ads only for political campaigns as this option is not available for regular marketers.
It’s extremely easy to search for ads from your competitors. All you have to do to view ads is to search their name in the library. You can also go to their Facebook page and click on the transparency box on the right side.
Next, go to the Ads From This Page option and click on View in Ad Library.
The tool will show you not only their current ads, but their location too. That way, you can see if your competitors are focusing on a new region or country.
If we were to tell you a few years back that someday you would be able to use a tool that would allow you to see any ad on Facebook that your competitor is currently running, you probably wouldn’t have believed us. Now, not only that you can get a close look at what others are doing, but you can also use their campaigns to draw some inspiration from them.
Let’s say that you own an HVAC store and your main focus has been getting traffic to your landing page in an effort to convert prospects. It’s not going as well as expected. So, you use the Facebook ads library to peek at your competition.
You notice that the top brand in your niche is creating ads promoting their YouTube channel or their blog in addition to marketing their products. You realize that they are focusing on creating and nurturing a community, something that is missing from your strategy.
You use this newly acquired information to revamp your ads strategy and try a new direction.
Social media is ever changing. New tools and trends seem to emerge overnight, making keeping pace with everything quite challenging. If you’re feeling a bit overwhelmed, but don’t want to miss on the opportunity that this medium provides, then you should get in touch with us. We can help you build your strategy, set up ads, and monitor them to ensure a high ROI. We will also keep an eye on your competition and adjust everything accordingly.
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