Today, I want to share something very important with you. Because not knowing this could be the reason your marketing efforts are failing.
I’m talking about knowing what your competitors are doing.
If you don’t know what your competitors are doing, how can you make sure your products and services are better than theirs?
Now, you might be thinking…
“Ok, Manuel, that makes sense. But, how do I figure out what my competitors are doing?”
I’m glad you asked.
It’s by a process we call reverse engineering.
And don’t worry. The process is easier than you might think.
So what is reverse engineering?
Reverse engineering is looking at what your competitors are doing, drawing inspiration from it, and then mimicking what they are doing.
For example, if you sold pet food for your business, your competitors would be businesses like Pedigree, IAMS, etc.
But let’s just say those are the main ones, so wouldn’t you want to know what they’re doing for their advertising?
Of course! They’re clearly doing something right if they’re generating all that revenue!
So this is how you find out what kind of ads they’re running for their business, and remember, these are just to draw inspiration from.
You should never ever steal someone’s ideas or written copy exactly as they posted them.
Okay, now for the steps to spy on your competitors.
Step 1: Go to The Facebook Ad Library
Step 2: Type in your biggest/relative competitors in the search
Step 3: Spy on them!
That’s it; it’s that simple. And if you have a hard time looking for your competitors’ ads, it just means they’re not running any.
And if you find a competitor of yours not running any, it means there’s an opportunity for you there.
But you might be asking what to do once you see your competitors’ ads. What do you do with that information?
Here’s what you can do, take note of what the ad consists of.
What kind of copy did they write in the ad, and does it grab your attention?
Are they videos or images?
Is it a giveaway or quiz?
How long was the video?
Dissect the ads as much as possible to see what their strategy is behind them.
This way, you don’t have to spend hours and hours or even money hiring someone to come up with ad ideas.
You can simply look at what your competitors are doing and just create them!
It’s a lot easier, and you get an idea of what’s been proven to work for them versus what might not be.
You can also use this as an opportunity to improve on their ads, make them better and add your touch to them.
For example, if you see that they’re using videos but the videos are really boring, you can make your videos more entertaining.
The power will really be in your hands, but you now have the power of inspiration!
