If you’re running a B2B or B2C business, chances are you have competitors. We’ve all heard that a little competition is healthy and can lead to innovation. But what’s even healthier is staying one step ahead of your competitors, especially when it comes to your Facebook Ads.
Finding high-quality customers for your Facebook Ads can be a challenge. However, one effective targeting tactic is to reach people who are already being targeted by your competitors or to use similar strategies. Here are 4 tips to help you uncover your competitors’ Facebook Ad targeting and optimize your own campaigns.
Tip 1: Look at Competitors’ UTM Tags in Their Ads
Tagging your ads and links with UTM parameters is a fundamental best practice in marketing. It allows you to monitor where your website visitors are coming from and accurately attribute your conversions. Here are the 5 standard UTM parameters:
- utm_source: The channel where the traffic starts from, such as “Facebook”.
- utm_campaign: A name to identify the campaign.
- utm_medium: The type of link used, such as “ads” or “paid” or even “cpc”.
- utm_content: Often used for A/B testing to track what was clicked on to refer the user to the URL, such as “15secvideo” vs. “1minvideo”.
- utm_term: The search keywords you’re targeting for paid search campaigns, such as “b2bmarketing”.
To see your competitors’ retargeting campaigns, make sure they are running broad website retargeting campaigns and that they are tagging their ad links with UTM parameters. Visit their websites, click through their content, and then scroll through your Facebook News Feed to see if you get retargeted with any of their ads.
If you’re having trouble being retargeted by competitors’ ads, you can still get inspiration from other brands you follow. Click on their ads in your News Feed and check if they have included any UTM parameters in their ad URLs. This can give you valuable insights into their targeting and the type of ads they are running.
Tip 2: Click on the Ellipsis from an Ad in the News Feed
Another simple way to view the targeting for any ads in your Facebook News Feed is to click on the ellipsis (3 dots) in the upper-right corner of the ad. This works for competitors’ retargeting campaigns as well. Visit competitors’ websites and click through their content, then wait a few hours and scroll through your News Feed to see if you get retargeted with any of their ads.
When you see a competitor’s ad, click on the ellipsis and select “Why am I seeing this ad?”. You’ll then see some general details about their target audience. This is also a great way to get ideas for your own Facebook Ads by analyzing how other businesses with compelling ads are targeting you.
Tip 3: Use AdInboxMe to Track Competitors’ Ads
Looking at your competitors’ ad content and creative can give you insights into the audience they are targeting. AdInboxMe is a tool that allows you to track your competitors’ Facebook Ads and get notified about new ads they launch. Unfortunately, you need to add yourself to the AdInboxMe waitlist to gain access.
Once you have access, you can enter any competitor’s Facebook Page URL on AdInbox.Me and click the “Alert Me” button. You’ll receive email alerts whenever that business launches a new ad on Facebook. This is a great opportunity to analyze your competitors’ ads and tailor your own ads to stand out.
Tip 4: See Your Competitors’ Facebook Audience with Audience Insights
Facebook’s Audience Insights tool provides aggregated insights about people connected to your own Facebook Page and people on Facebook in general. While this is more of an indirect way to view your competitors’ audience, it can still provide valuable information about the people who like your competitors’ Facebook Pages.
Using Audience Insights, enter your competitors’ names individually to see the demographics of their audience and the other Pages they have liked. This information can help you build new buyer personas and tailor your Facebook Ads to target similar audiences.
To optimize your Facebook Ads targeting, remember to A/B test different techniques, creative elements, and messaging. Measure your ROI across Facebook Ads campaigns and other channels using tools like Smart Attribution. Sign up for a free 7-day trial of PixelMe to track your Facebook Ads ROI.
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Note: This article is written for Mr Reviews. Click here to learn more about Mr Reviews.