Tips to Apply Competitor Insights
Gathering insights on competitors is valuable, but applying those insights is what makes the difference. Here’s how to make the most of your competitor analysis:
- Ad Inspiration Library: Document best-performing ads from competitors. Categorise them by theme, message, format or creative elements.
- Regularly Test and Adapt: Use insights to inform your A/B testing. If a competitor is doing well with a particular ad type or message, test it for your audience.
- Stay True to Your Brand: While inspiration from competitors is useful, authenticity is key. Adapt strategies to fit your brand voice and values.
Video Content for Meta Ads
Video is a key ad format, especially short-form content like Instagram Reels and Stories. When reviewing competitor ads, look at:
- How do competitors structure their videos for maximum engagement?
- What type of video hooks do they use to grab attention quickly?
- Call-to-action within video ads.
By understanding competitor video strategy, you can create stronger content for your brand.
Privacy and Data Considerations
With increasing privacy regulations, such as GDPR and platform updates, some ad data may become limited. To stay compliant and effective:
- Check for updates on ad transparency guidelines.
- Be aware that targeting information may become less detailed due to data protection rules.
- Use the insights wisely and ethically, focusing on overall strategy rather than specific targeting.
Ms Frankie’s Social Media Success
Ms Frankie, an Italian restaurant in Cremorne and Carlton, approached us with sluggish post-Covid recovery issues. By analysing competitor ads, we saw an opportunity to pivot from basic boosted posts to a full-funnel Meta ads strategy.
We focused heavily on targeted location-based ads, using competitor insights to refine audiences interested in celebrating milestones, food, and drink. Additionally, we implemented base code tracking to optimise ad spend and avoid redundant targeting.
The results were impressive:
- 182% increase in website engagement
- 349% boost in restaurant bookings
- 1,220% increase in event enquiries
Ms Frankie’s case demonstrates how informed competitor analysis combined with strategic ad optimisation can drive tangible, measurable business results.
Businesses that know what their competitors are doing have an edge. Competitor analysis with the Meta Ad Library will keep you innovative, reactive and effective. But balance competitor insights with your brand and audience to create ads that truly work.
Get started with competitor analysis today using the above methods.