You Can Now Spy On Your Competitor's Facebook Ad Strategy For Free
Facebook just released a new feature allowing you, with a few clicks, to spy on your competitor’s Facebook Ad Strategy, so you know exactly what’s being said by your competitors, discover new opportunities, and make sure they’re doing everything “by the book.”
This week we’re reviewing Facebook’s new ad transparency and the new “View Ads” tab Page and how you can use this new feature, initially launched by Facebook as a test in Canada, to see every single ad dealers around your dealership are running on Facebook. I don’t think I need to say much more for you to understand how valuable this information could be to your dealership’s marketing team.
You can now figure out what your competitors are saying to potential vehicle shoppers so you can adjust your ads and respond with the perfect message. You can also spy on larger players like the manufacturers, used car portals, and nationwide special finance lead generation companies to gain valuable insight to help you level the playing field.
Before this new transparency feature was added, it was virtually impossible to view your competitor’s Facebook ads unless you were part of their targeting, and lucky enough to catch the ads when they were displayed. For example, unless you were yourself a sub-prime customer, you would never get to see the special finance ads that dealers in your town were running. Now you can.
Here’s how it works to see your competitor’s Facebook ads…
To view the ads, you can simply go to any dealer’s Website and click on their Facebook icon. You can also go directly to Facebook and search for the dealer’s name and find them in the “Pages” tab. Once on their page, click on the three dots at the bottom of the cover image and finally click on the “View Ads” tab from the drop-down menu. Voila! If the dealer’s running Facebook ads from that page, they will all be there in plain sight.
Curious to see what popular used car portals are using for ads on Facebook to catch the interest of pre-owned vehicle shoppers. Go ahead and spy, watch and learn, and then mimic for your store what’s working for the big players spending hundreds of thousands of dollars in ads. I guarantee you that these guys are testing, measuring, tweaking and optimizing all their ads so why not benefit from what they’ve learned before spending your own money.
I know many car dealers would love to get in the special finance game and generate revenues from sub-prime and near-prime customers. But how do you launch your own initiative, when nationwide special finance lead generation companies are spending millions in Facebook ads each month, some of it in your own backyard? It’s not only intimidating; it’s virtually impossible to compete, until now.
Do you want to see what a massive player like CanadaDrives.ca is using for ads to compete for special finance leads against your store? Go ahead and spy. Want to see what other dealers or used car stores are doing to generate special finance business? Go ahead and spy. You’ll be able to do the same anywhere around the world, on any Facebook business page, once the test in Canada is completed.
Go, spy, to understand what tire companies are advertising before advertising your own tire sale. Go, spy, at what other body shops are advertising before running a campaign for your department. Go, spy, at what your competitors are advertising on Facebook before running a service and maintenance promotion.
Mimic, don’t copy…
Now you realize that I am advocating mimicking and not copying your competitor’s ads. Use this strategy to mimic the verbiage, keywords, colors scheme, style and other elements that might make the ad successful but don’t plagiarize the ads altogether, so you end up with a cease and desist order. I just wanted to make that clear before we move on, so there’s no confusion.
Make sure your Facebook ads are all “by the book.”
I bet governing entities like OMVIC, AMVIC, V.S.A. and other motor vehicle industry councils and consumer right protection agencies are also going to be using this new transparency feature from Facebook to catch dealers who, up to now, could get away with ads that didn’t provide vehicle shoppers with all the necessary disclosure. If you don’t already, make sure you have a quality control team that will review all your Facebook ads, the same way you would review ads placed on any other media.
You can also use the feature to “keep an eye” on dealers who you suspect might not be playing fairly.
Make sure you’re always in the know…
If you want to constantly have the first mover’s advantage on the release of cool new features like these, make sure to follow us on Facebook. Just search for “30 Days to Sell Cars” and like our page. You’ll join over 2,000 other dealers just like you who, daily, take advantage of tactics like these, to increase their sales and profits each month.
You can also call us at Turbo Marketing Solutions Monday through Friday to discuss how your dealership could leverage the most powerful automotive marketing tools and strategies to explode the revenues of all your dealership’s departments.
Sean Cassy is the Digital Marketing Specialist and Co-Owner of Turbo Marketing Solutions. You can contact him by email here or reach him by phone every weekday at Turbo Marketing’s head office