Absolutely huge news from Facebook over the weekend. Facebook has just become completely transparent in its’ advertising policies, opening up the floodgates for savvy marketers to analyze their competition’s advertising strategies.
What did they do exactly?
Facebook has just allowed anyone with or without a Facebook account access to search all ads run on any Facebook product.
Here’s the statement and explanation straight from Facebook:
“The Ad Library provides advertising transparency by offering a comprehensive, searchable collection of all ads currently running from across Facebook Products. Anyone can explore the Library, with or without a Facebook account. … We’ll keep each of these ads in the Library for seven years.”
Facebook Ad Library is now open for everyone to see — and if you’re saavy, you should start scoping out what your direct competition is doing.
A Real Life Example
For instance, I work for a company called Nabtesco Motion Control. We are the biggest cycloidal gearbox manufacturer in the world. We have a niche product in a wide-ranging motion control industry, but we have the absolute highest precision product for our potential applications.
With that being said, there are points of overlap with our competitors in North America. Trying to see what your competition is doing is not always the easiest.
Companies sometimes resort to signing up to their competitors’ email lists to see what they’re up to; and they should. There are also software platforms like SEMRush, Similar Web and Ahrefs that allow you to scope out your competitors Google Paid Ads.
But you haven’t been able to look at how your competition is running paid social ads….until now.
How To Scope Out Your Competition
Here’s how to do it:
Search for your competition’s Facebook page.
Of course you’ll have to analyze what type of ads they’re running.
When you do:
PAY ATTENTION to the type of split tests they’re running, what products they’re promoting, and how they’re positioning the ad copy.
Is it a hard sell? Is it for brand awareness?
You can now use all this data to your advantage to run your ads in a more strategic way.
Below are examples of Nabtesco’s competitors using Facebook Ads:
This feature has only been available for about a week, and not very many people even know about it!
They say knowledge is power; and in a competitive business world, you need to take every piece of data you can and use it to your advantage.
Even if it’s your competitors.
I enjoy writing on topics such as SEO, Lead Generation and Digital Marketing Trends.
If you got value from this article, I would love for you to tweet me @RichPriebeJr and let me know your biggest takeaway 😉