Running Facebook Ads is among the most successful strategies when growing your brand, generating sales and leads, and establishing loyal consumers.
However, for marketers, Facebook Ads are even more critical. This is related to the size of the audience, targeting possibilities, social network attention, and a decrease in organic reach.
It’s reasonable to think that you have a few rivals among the ten million-plus Facebook advertisers. When it comes to competition, you should preferably be aware of their assets and how successfully they are doing it. The same is true if you’re running ads on Facebook.
You may boost the effectiveness of your Facebook Ad campaign by identifying the fans of your competitors’ pages. However, there is one distinguishing feature of your competitors’ consumers that you may use.
Remember, your opponent’s audience represents a set of consumers that are already poised to purchase what you have to offer.
Therefore, as a marketer, you simply cannot afford to squander this valuable real estate. Hence, you need to know how to tailor your Facebook advertising to your rivals’ audience.
A brand is set apart by the additional value it offers. And this is established through different marketing and promotion campaigns.
Not only are inventive ideas needed in the marketing business, but one also needs to monitor their rivals’ advertising efforts, targeting their consumers.
Here is how you target Facebook ads to the competitor’s audience:
Lookalike audiences are a powerful tool on Facebook that may assist you in obtaining an audience similar to that of another business.
Install Facebook pixels on your website and establish a Custom audience for the most remarkable ad results. These audiences share certain qualities – Facebook will look for people who have these characteristics.
Using a Lookalike audience to reach audiences of a rival is a successful strategy. This is because your items are so similar; there is a lot of overlap in your targeted traffic. Therefore, adopt the same traits as your competition and fans. For example, you may find rivals’ Facebook Page fans using the Lookalike audience technique.
Lookalike audiences that target Facebook advertising to rivals’ sites do not appear overnight. Targeting the correct audience and analyzing the precise characteristics of competitors’ Facebook followers takes time.
Therefore, you should examine the advertising audiences of marketers to develop the most accurate bespoke audience.
You cannot directly target the followers of your rivals’ pages on Facebook – there isn’t a button for that! However, Facebook Ads make approaching people with common interests more accessible as well as huge competitors.
Therefore, you can give more value to your advertisements once you’ve researched the material that connects with the audience you’re trying to target.
All you have to do is go to the “Interests” area and enter the name of the competing fan page.
For example, suppose you’re producing advertisements for a local bakery business. In that case, you may target visitors in the region who “like” or have expressed interest in pages linked to top local bakery companies.
But unfortunately, there is no one-size-fits-all method for reaching your competition through interest-based audiences.
However, by assessing client interests, you will profit from a highly targeted audience. You may then use the information on shared interests to develop bespoke audiences. These will help you target individuals with interests likely to coincide with your contenders and your business.
Getting the focus of your rivals’ audience is less about deliberately targeting relevant page fans and more about aligning to their interests and characteristics.
This enables you to send more relevant messages by improving your Facebook Ad targeting possibilities. Additionally, customizing your Facebook. However, to prevent wasting advertising expenditures on possibly rigid consumers, this method must be implemented correctly.
As a result, hiring a qualified advertising firm with the ability, tools, and knowledge to manage such parts of your PPC campaigns is recommended.
Compile a list of particular competitor pages that you wish to target. These pages can be found using a variety of methods. As you conduct your investigation, make a note of the page titles and URLs.
With that said, these are the best ways to locate relevant competitor pages:
Please make a list of all of your top competitors and find their Facebook pages. For example, you can locate the corporate Facebook pages or the founders’ pages.
Fill the Facebook search box with relevant terms and then choose the desired pages. You can go through this list for more sites relating to your profession.
Consider your sector’s brands and public figures as an excellent tactic. Locate and add their Facebook pages to your list.
If you’ve liked a page relating to your sector, they must be doing something well. So it may be helpful to examine your own Facebook profile and make a list of the relevant pages you have liked in the past.
You may access your likes by appending ‘/likes’ to the end of your Facebook profile URL.
When you click on the Community tab on any Facebook page, you will find a list of top fans.
Navigate to their profiles and add ‘/likes’ at the end of the URL.
Now you’ll be able to look at other pages that they’ve liked.
Go to a Facebook page that is relevant to your industry. Then, in the sidebar, look for ‘Related Pages’ or ‘Pages Liked by This Page.’ These alternatives allow you to delve down the rabbit hole and uncover competition pages you may not have considered otherwise.
Add interests that are important to your business to Facebook Audience Insights. Then, click the ‘Page Likes’ tab to get a list of pages liked by individuals with those interests.
To signify significance, Facebook arranges this list by affinity score. Pay special attention to sites with a high-affinity score.
Enter your search terms into YouTube to check who has the highest-ranking videos. Look out for their Facebook sites as well. They most likely have a valid, high-quality audience you can address.
When you go straight on your competitor’s Facebook page from the Audience Insights dashboard, you’ll get many content ideas and research data. Examine your rivals’ pages and take notice of the user involvement and the content as well.
Examine the left side of your rival’s Facebook profile. You will notice direct connections to their material categorized as:
Connect each of these links and dive deeper to see what kind of engagement they are receiving.
Once you’ve determined if their engagement is favorable or harmful, you may devise strategies to adjust your Facebook Ad approach accordingly. Here are some critical questions to assist you:
Examine how relevant platforms and your rivals engage their audiences in ways that progress them along the sales funnel. You may use this information to create your audience targeting techniques that will take visitors away from your competitors.
This strategy is quite successful since you effectively retarget an already engaged Facebook audience with material they have already expressed an interest in. To pique the interest of these followers, you may add your own distinctive and personal touch.
Split testing your target audiences helps you determine which ones produce the most remarkable outcomes for your ad campaigns. Since you’ve gathered important information about your competitors’ audiences and their likes (based on data from your page list), the Facebook split test audience factor is an excellent tool for precise targeting.
This tool separates your audience into random, non-overlapping groups and enables you to collect statistically meaningful data. You can have up to five versions of your test variable in the Facebook split test. Facebook computes and compares the price per result for every ad-set.
And then, the ad-set with the lowest possible cost per outcome (cost per video view) prevails. Next, Facebook uses test data and hundreds of simulations to calculate the Confidence Level, which is displayed as a percentage. Thus, estimating your chances of having similar findings if you repeated the split test.
As a result, in this scenario, you may use an audience split test and a goal to discover which audience delivers the lowest cost per video view. The steps for building a split test campaign includes:
When your winning ad set is discovered, Facebook will stop the test. You can now apply the split test to your whole sales funnel and pit your rivals’ audiences against one another to see where your subsequent efforts should go.
Targeting competitors in Facebook is not as clear-cut as it is in Microsoft Ads and Google Ads. Despite that, it can still be a worthwhile strategy to examine.
The point to keep in mind is to be careful with what you type in as your target and observe any performance to judge whether it can work for you or not.