Understanding and learning from your competitors is essential in today's competitive landscape. By deconstructing a competitor's advertising strategy, you can uncover insights into their messaging, positioning, landing pages, and priorities. This exercise allows you to leverage successful tactics and apply them to enhance your own advertising strategy efficiently. Let's dive in and discover valuable insights from your competitor's advertising approach.
Analyse and deconstruct a competitor's advertising strategy using Facebook and LinkedIn ad libraries to gain valuable insights and avoid reinventing the wheel in your own marketing efforts.
Identify a Competitor:
Choose a competitor in your industry whose advertising strategy you want to analyse. Ensure they have a presence on Facebook and LinkedIn.
Find Their Ads:
Visit the Facebook and LinkedIn ad libraries and search for your competitor's ads.
- Facebook: Visit facebook.com/ads/library
- LinkedIn: Visit [linkedin.com/company/<COMPETITOR>/posts/?feedView=ads](https://www.linkedin.com/company/<COMPETITOR>/posts/?feedView=ads)
Create a Swipe File:
Document and store examples of compelling ads from your competitor. Capture screenshots, copy snippets, or save links for future reference. Organise these assets into a swipe file that inspires your own advertising creativity and strategy. Use a tool like Airtable or Notion to store them.
Evaluate Landing Pages:
Click on the ads in the ad libraries to view the landing pages your competitor uses. Analyse the language and content on these landing pages to understand what messaging is used to convert visitors into customers. Pay attention to the flow of the website and the steps they take to guide users towards conversion.
Understand Company Priorities:
Look for patterns and trends in your competitor's advertising efforts. Identify any recurring themes, campaigns, or promotions that suggest their priorities and focus areas. For example, if a competitor is consistently running ads promoting a specific product or service, it indicates a significant priority for them.
Learn Profitability Insights:
Observe where and how frequently your competitor advertises. Take note of the platforms, channels, or locations where they consistently invest in advertising. Analyse the duration and frequency of their campaigns to gauge potential profitability. You can estimate high-performing ad creatives by the fact that they use it for several months in a row.
Compile Findings and Insights:
Organise your findings into a comprehensive report or presentation. Summarise your competitor's target audience, messaging, positioning, website flow, priorities, and potential profitability. Draw insights from the data to identify gaps, opportunities, or potential areas for improvement in your own marketing strategy.
By deconstructing your competitor's advertising strategy, you can gain valuable insights into their messaging, positioning, landing pages, priorities, and profitability. This exercise will help you understand how they appeal to their target audience, convert users into customers, and allocate their resources effectively. Use these insights to inform and refine your own marketing efforts, identify competitive advantages, and stay ahead in your industry.