Good brands get ahead of the curve with innovation. But great companies stay ahead of the curve by making consistent progress while keeping a keen eye on the competition.
Given the highly volatile business environment (thanks to COVID-19), advertisers can’t help but want to take a good peek at the competitors’ ads and offers. Wouldn’t it be great if you could type your competitor’s name and see all of their ads and spends, all in one place?
Well, the feature is here! The latest function added on Facebook is called Facebook Ad Library , and lets you take more than just a peek at all their ads.
Talk about accessibility. Anyone can explore the library. You don’t even need a Facebook (or Instagram) account. Well done, Zuckerberg!
But wait. Why is this exciting? And more importantly, why should you, or anyone in business care? Here’s why. Until now, the ability to keep a tab on the latest ads and schemes of the competition was just an advertiser’s dream.
But now you can see the advances they are making on the audience in real-time. Especially if they have custom audiences targeted and most of us don’t fall in that group. Now there is no hiding. For transparency reasons, Facebook has made the ads public.
If you have any questions or need assistance in anything that’s even remotely related to Digital marketing, you can reach out to our performance management experts. There are various aspects of competition analysis that our experts can simplify for your understanding while offering multiple digital solutions that make sense for your brand in particular.