Competitor Analysis on Facebook: What are the right tools you need?
Facebook Competitor Analysis is a vital step for any organization trying to make it big on social media! Learn how even you with the right tools can do so!
Facebook Competitor Analysis: What is it all about?
Companies strategize on what the competition is doing out there. In this dynamic world that we live in, the tastes, trends, preferences of consumers change more frequently than ever. Organizations must adapt to these changes before their competitors deploy those methods in their workflow. Competitor analysis is so dynamic and fast-paced that organizations need to focus around the clock on the trends in the economy.
Facebook Competitor analysis is vital for growth as it gives the organization insight into the level of competition in the industry. It analyzes how the big shots of the industry use different marketing tactics to generate more revenue.
With the advent of technology, organizations have resorted to using social media platforms to market their products and services. Organizations everywhere use Facebook, and several organizations already have competitors on Facebook and other platforms. As Facebook grew, an analysis tool to monitor the performance of their social media posts and the reach and the impressions those posts made over the audience to facilitate their revenue making.
But before looking at these tools, we must learn why Facebook competitor analysis is necessary, like different social media platforms. Some reasons are:
- It helps in identifying the competition
- Analysis of said competition
- Comparison between your products/services with the competition
Anytime an organization releases a product, it advertises it on every social media platform to strategize and build information upon an organization. This examination of all that the competition is doing is called Facebook Competitor Analysis and is an integral aspect of digital marketing.
People on Facebook have been buying and selling for a long time now. But there is a lot of untapped potential in the platform, which can be unraveled by analyzing your opposition.
Learning from them is a difficult task, as with any aspect of digital marketing. It requires you to bring out deductions from data and usually requires skilled personnel to derive any information that can be deemed vital.
The easiest way to see what the competitors are doing:
Thankfully, there exists a tool a lot of advertisers use called PowerAdSpy. It brings you fruitful information in the form of metrics and insights which the competitors have already made, and you may also test if those strategies work for you!
PowerAdSpy is an efficient tool that lets you spy on ads by your competitors! It allows you to go through and break down every detail of their ad copy, and it provides you other insights such as the date on which the ad was last interacted with, its engagement on social media, and some targeting options you did not know!
It has a simple interface for an effective Facebook competitor analysis. It can search and filter them by domains, advertisers, keywords, their longest-running ads, etc. All of these make PowerAdSpy an effective tool for competitor analysis all over Facebook or any other social media you run your business on. Not just all of this, but you can also check which are the most popular ads that have been catching the audience’s eye, thanks to you being able to check on your opposition’s techniques and strategies!
Several companies decide their strategies and plan of action by looking at their competitors on marketplaces, such as Facebook. PowerAdSpy lets you analyze all of their ad campaigns for you to study their performance and adapt it to your organization.
Not just Facebook, PowerAdSpy also tracks advertisements over other different social media platforms like:
- Google Ads
PowerAdSpy as a tool is powerful and can be used to derive insights about the performance of an advertisement for a product owned by the competition. These insights tell you what is missing in your strategy. It also highlights the aspects where your organization needs work and which are better than your competitors. There are numerous more reasons for you to use PowerAdSpy for your Facebook competitor analysis, especially if you’re using Facebook. Some of them are:
- Search ads of all your competitors using exact keywords or relevant ones.
- Information about geo-targets of an organization: It helps you analyze which parts of the world people are already using the alternatives of your product.
- PowerAdSpy has a vast collection of video advertisements to help you cater your ads to your desired audience.
- It offers you real-time insights into the engagement of your posts. This information is what helps advertisers grab the attention of their desired targeted audience.
- All insights are visible in an intuitive and easily understandable manner, so no information slips through your eye. All information is worth a lot in digital marketing!
It is not just ads, offers, copies, creatives that the competitors are putting out that are also available for you to analyze and use for your benefit. All this research and derivation of information cost an organization a mass chunk of capital every year. Saving this money would be possible by using this competitor analysis tool for Facebook and other platforms.
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All in all, it is a huge deal when it comes to value for money. At the same time, it provides you a neat way of keeping track of what everyone is doing.
I have installed PowerAdSpy. Now what?
The dashboard might seem complicated at first, but do not get overwhelmed! It is all information waiting to be analyzed and studied upon, on which the conclusions of what the next steps would be of your organization will be formulated.
On the left side of the dashboard, there should be a column saying Keyword Type. All you need to search for your desired ad template or what the other competitors are doing can be searched through this column. Simply typing in your keywords and providing relevant information, you can uncover what everybody else in the industry is doing and learn from what they have done.
Keeping track of what your competitors are doing, and analyzing it, has always been a crucial task for any organization. In this day and age, with how fast technology and tastes, and the preferences of the public are changing, it is more important now than ever to take a look at these metrics and to find and put out ads that would yield higher and better results, even so than your competitors on Facebook.
Install PowerAdSpy and learn about the pricing and all the different ways you can use it to put your products on top of the others when searched for on Facebook and other marketplaces. We hope you have a bountiful analysis, and it yields you massive revenue for your organization!