Are you struggling to come up with ideas for your ads but don’t know where to start?
Are you contemplating on hiring a creative ad agency but don’t have the money to invest?
The best way to create an ad – especially if you’re new – is to model your ads from your competitors.
But make sure you don’t copy it to the T – that’s an absolute big no no.
The goal is to see what type of ads your competition is running and create a similar variation of what they made.
This will save you a lot of money because this process doesn’t require a high budget and often times you can create a similar ad at a lower cost.
One thing I’ve learned in marketing is that not all “expensive” or professional-looking images/videos will translate into sales.
There will be times where the ad that you made for free will convert a lot higher than the ad that costed you $100s of dollars to produce.
Now you’re wondering what’s a cost-effective way to spy on your competitors?
There are tools out there that charge a couple of benjamins and some even charge less than that.
But the best tool I found that’s very useful and has also helped us create profitable ads is………
Drumroll please…..
Facebook Ad library!
https://www.facebook.com/ads/library
Yep, you read right!
This tool will allow you to see what ads your competitors are running and best of all you don’t need to pay to use it!
What a time to be alive!
Benefits of using this tool:
Using Facebook Ad Library, you’ll be able to see what’s currently working in the space and this gives you the luxury of not having to start from scratch.
You also get to see what other products your competitors are promoting and what’s trending in the market.
If they’re running a video ad, then pay attention to how long it is (duration), how many models or influencers they’re using, video effects, and how they’re presenting their product as the solution. Of course, there’s a lot of other things you can look into but these are just the basics to help you understand what goes into an ad.
The longer an ad is running is usually a good sign that it’s profitable. It cost money to run ads on Facebook, so it’s a no brainer that it’s producing results. Keep in mind that this doesn’t apply to fortune 500 companies, they have deeper pockets which allows them to focus more on brand awareness than looking to acquire new customers.
Other tips:
Tip #1: Saving videos from Facebook Ad Library:
Sometimes when you see a really good ad and want to save it for future use or show it to your creative team, then having a back-up copy can be very beneficial. It’s very easy to do this and all you need to do is right click on the video and click on “save video as”.
Tip #2: You can use similarweb.com to find out how much traffic is going to your competitor’s site every month.
Tip #3: You can also take a look at your competitors in Amazon and browse through their TOP customer reviews. Our best ads come from customer testimonials and using this type of ad has allowed us to scale one of our supplement brands to 7 figures.
Social proof is essential to any business and sometimes you can use it to make super profitable ads on Facebook. 🙂
Have fun spying on your competitors!
