Knowing how your competitor is performing and working on your strategy to getting a better edge over them can help you get better leads.
Research is the Key for Better Success Rate
If you already have a Facebook Ads page, but not getting much ROI from it, then you might need to improve on your strategy. Here is where you need to check out your competitors’ ads and see how they are faring. This can help you get additional tips or information on how you can work on your ads.
If you are new to internet marketing, you can hire any reputable FaceBook ads agency such as Australian Internet Advertising located in Sydney, Melbourne, and Brisbane. Their team of professionals will understand your requirement and come up with the perfect Facebook Ad strategy to get you conversions.
Competitive analysis is important. It helps you determine your weaknesses by assessing your competitors’ strengths. Secondly, you might be able to learn about discounts or offers they are offering, which you might have missed out on your campaigns.
Getting information about your competitors’ Facebook Ads is not a difficult task, provided you know which tools to use to extract the campaign information. There are different ways in which you can make the most of your research:
- Subscribing to their Ads page
- Using Tools to view their Traffic Source
- Analyzing their Ads Content
- Checking out their Google Ad Campaigns
- Making use of the Facebook “Why Am I Seeing This Ad?” feature
- Creating a Facebook Ad Swipe File
One of the easiest ways to collect information about your competitor is by subscribing to their webpage. Here you will be able to an overview of the latest trends they follow and what marketing strategy they are using to generate sales. You can even filter by geographic locations or products to understand, which locations or customers they are targeting.
You can even make use of analytics tools that can help track the traffic sources on your competitor’s ad page. This also gives you information if they solely rely on social media to generate leads or use other promotional methods to attract their audience. You can even gain information about your competitors’ weaknesses by analyzing the content of their ads.
Every ad page will have comments or issues faced by customers. You can make the most of these comments to improve your ad page. What is lacking in their content can be used best to your advantage. Your competitor might also be using other ad platforms like Google Ads to generate leads. Many spyware tools are available that can help track different ad campaigns and let you know which ad platform is generating good leads.
If you are an avid Facebook user, you might have noticed those small ads popping on your screen along with captions like “Why Am I Seeing This Ad?” If you think from the advertising point of view, you can use this option to get a better understanding of their advertising strategy. Last, but not least you can create a Facebook Ad Swipe File with Google Sheets or other tools and gain enough information about your competitors’ campaigns.
You can also make use of Facebook’s Info and Ads tools wherein you can view all the current ads posted by your competitors. Similarly, you can even make use of analytic tools such as AdEspresso that can give you valuable insights about your competitor and help you improve your ad page. This tool also helps you to filter by company or brand names if you are looking for something specific.
Be Focused on Your Ad Goals
Now before you go about researching your competitors’ advertising strategy, you might want to understand what your focus is on. Is it to build your brand image, boost sales, or attract new customers for your business? Secondly, you might even want to understand what exactly you want to achieve by researching your competitors.
You can even check out their landing pages to see how they are driving traffic to potential sales. What is the different Call to Action phrases they have used that have led to better conversion rates? You can then try experiments with these tips and see how you can improve upon your ad campaign.
You might have heard of the popular saying “Keep your friends close, but enemies closer”. The same rule applies to advertising campaigns also.