Canny Business Owners Use These Powerful Tools to Spy On Their Competition's Marketing Tactics
Potential clients often lament they’re at a disadvantage due to the dominance of one or more competitors. When they express this sentiment, I simply explain they are in a far better place with stiff competition because the alternative would put them at a disadvantage. While counterintuitive, this is true because having strong competitors is a blessing in disguise.
Why?
Well because it’s a much more preferable situation when one, two, or a few brands have a sizable market share merely demonstrate genuine need, and the good news is that their track record of success can be emulated. In other words, if there is no competition, there’s a reason for its absence.
However, when an organization successfully makes a name for itself, there is always room for more consumer choices. And this is precisely where any remaining gaps can be filled. What’s more, since the roadmap has already been created, and the potholes clearly marked, it’s entirely possible to follow it.
Why Businesses Should Spy On Their Competition
"Keep your friends close and your enemies closer." It’s an old, familiar adage - or shrewd strategy. While your competitors may not be your sworn adversaries (unless you're taking life a bit too seriously), they do pose a threat to your business if you don't keep a watchful eye on their strategies.
Below, I'll share nine effective ways to monitor your competitors' ads, ensuring that your marketing approach remains agile, relevant, and impactful. By staying informed about your competitors' tactics, you'll be better equipped to adapt and thrive in the ever-evolving online advertising landscape.
But before we get into the various tools, let’s take a look at why you should be spying on your competitors in the first place - for which, there are several compelling reasons:
Learning the best tactics. By analyzing your competitors' marketing strategies, you can identify what works for them and potentially adapt those tactics to your own business.
Identifying gaps in the market. By studying your competitors' marketing efforts, you can identify areas where they may be lacking or not fully capitalizing on. This can provide opportunities for your business to fill those gaps and gain a competitive advantage. This includes, but is not limited to keyword gaps.
Staying ahead of the competition. By keeping a close eye on your competitors' marketing tactics, you can anticipate their next moves and adjust your own strategies accordingly. This can help you stay one step ahead of the competition and maintain a strong market position.
Improving your own marketing efforts. By analyzing your competitors' marketing tactics, you can gain valuable insights into what works and what doesn't in your industry. This can help you refine your own marketing strategies, improve your messaging, and ultimately drive better results for your business.
Spying on your competition's internet marketing tactics might feel uncouth or downright dirty, but it’s crucial for businesses looking to stay competitive, identify new opportunities, and continuously improve their own marketing efforts.
5 Tools Small Business Owners Can Use to Spy On Their Competitors
Small business owners can leverage several tools to gain insights into their competitors' marketing strategies and the long-tail keywords they are targeting. Here are some of the most effective tools:
SEMrush. This comprehensive tool provides insights into competitors' organic and paid search strategies, including the keywords they are targeting.
SpyFu. This tool allows you to see the keywords your competitors are bidding on in Google Ads, as well as their organic search rankings.
SimilarWeb. This tool provides insights into competitors' website traffic, including the sources of that traffic and the keywords driving organic search visits.
BuzzSumo. This tool allows you to see the content that is performing best for your competitors on social media, as well as the influencers who are sharing that content.
Google Trends. This free tool from Google allows you to see the search interest in specific keywords over time, as well as related queries and topics.
By using these tools, small business owners can gain valuable insights into their competitors' marketing strategies and the long-tail keywords they are targeting. This information can then be used to inform and improve their own marketing efforts.
4 Other Sneaky (But Effective) Ways to Spy On Your Competition
If you’d like even more resources to draw insight from, you can tap into more platforms. Although these are already familiar and you’ve probably used at least one, chances are that you’ve probably not thought about putting them to work in a different way than you’re accustomed to. So, let’s take a quick look at where you can gather additional information, starting with the most recognizable name on social media.
Visit the Meta (Facebook) Ads Library
Yep. That’s right. You can extract quite a bit of information from Facebook without resorting to hacking the competition’s account. It’s known as the Meta Ads Library and you can access it by going to: https://www.facebook.com/ads/library.
Once you’re on the platform, go ahead and search for your competitor by entering the name of your competitor's Facebook page. Then, you can review the ads. After you've found your competitor's page, you'll be able to see all the ads they're currently running. (Plus, you can also view ads they've run in the past.)
Next, analyze those ads. Take a close look at the ads your competitor is running. Pay attention to the ad copy, images, and calls-to-action. Also, note the targeting options they're using, such as location, age, and interests.
Finally, use the insights to improve your ads. By analyzing your competitor's ads, you can gain valuable insights into what's working for them and what's not. Use these insights to improve your ads and make them more effective.
But remember, the goal of using the Facebook Ads Library to spy on competitor's ad campaigns is not to copy their ads, but to gain insights and inspiration to improve your own ads.
Explore their Website Retargeting
Businesses with a strong online advertising strategy often employ retargeting ads. These ads are designed to target individuals who have previously visited the company's website. As a result, these users will encounter ads for the business on other websites they visit and on various social media platforms.
To effectively monitor a competitor's retargeting ads, consider visiting their website multiple times, clicking on various pages, and engaging in different actions. Keep a close watch on the social media platforms and websites you frequent in the days and weeks following your interactions with the competitor's website. This approach will provide valuable insights into the effectiveness of their retargeting ad strategy and may even inspire new ideas for your own digital advertising campaigns.
Run a Google Search
If you don't have access to a dedicated SEO tool, you can still gather valuable insights about your competitors by conducting simple Google searches. By entering your competitor's brand name or the specific service they offer, you can quickly determine whether they are running any Google Ads campaigns.
If your competitor is indeed running ads, you'll be able to view their ad copy and the landing page associated with each ad. However, it's important to note that conducting Google searches alone will not provide you with the comprehensive keyword data and position tracking that can be obtained through the use of dedicated SEO tools.
Leverage the Google Ads Transparency Center
If you're interested in gaining a more comprehensive understanding of the Google Ads campaigns your competitors are running, you may want to explore Google's Transparency Center. This platform serves as Google's ads library, allowing you to search for text, ad, and video ads from your competitors or other businesses. By examining these ads, you can gather valuable insights and inspiration to help you refine and enhance your own Google Ads campaigns.
Now, Use this Valuable Information to Your Advantage
Once you’ve uncovered and honed in on your competition’s marketing strategies, it’s time to put that information to work for you. It’s possible to mimic or even reshape their tactical approach. And, if you don’t have the time to write the content you need to market your products and services better, we’re always here to help! Just hit the “Order Custom Content Now” button below!