13 Ways to Outsmart Your Facebook Ads Competitors

Facebook Ads is a fiercely competitive landscape. To win, you need smart and effective strategies. This article reveals 13 ways to outperform your competitors on Facebook Ads.

Optimize Your Attribution Settings

Most advertisers use the default attribution setting (7-day click, 1-day view). Change this to 7-day click and 1-day view to better understand the customer journey and optimize your ads more effectively. This setting helps you pinpoint which ads are truly driving conversions, allowing you to focus your budget accordingly.

Set Up Custom Columns

Eliminate distracting metrics and focus on the key performance indicators (KPIs) by customizing columns in Ads Manager. Important metrics to track include: Cost Per Click (CPC), Outbound Click-Through Rate (Outbound CTR), Frequency, Purchase Conversion Value, and Return on Ad Spend (ROAS).

Monitor Secondary Metrics

Don’t just focus on primary metrics. Track secondary metrics like CPM, frequency, and outbound CTR to predict future ad performance. Compare these metrics weekly and monthly to identify trends and adjust your strategy accordingly.

Advertise Your Best Products

Apply the 80/20 rule: 20% of your products generate 80% of your revenue. Focus your ad budget on your best-selling products to maximize profits.

Combine Images and Videos

Use a variety of images and videos in your ads to reach customers across different platforms and placements. Facebook will automatically optimize ad placement based on content type.

Balance Interest-Based and Broad Targeting

Combine narrow interest-based targeting with broad audience targeting to optimize reach and conversion efficiency.

Separate Campaigns for New and Existing Customers

Run separate campaigns for prospecting, retention, and retargeting to optimize budget and messaging.

Leverage CRM to Enhance Pixel Data

Connect your CRM data with Facebook Pixel to enhance data matching and improve targeting accuracy.

Don’t Turn Off Assisting Ads

Don’t prematurely disable ads with low ROAS if they are assisting other high-performing ads. Let Facebook’s algorithm optimize automatically.

Analyze Performance by Day of the Week

Identify the days of the week with the highest conversion rates and concentrate your budget on those days.

Understand Your Objectives

Set realistic ROAS goals aligned with your business objectives, not your competitors’.

Accurate Reporting

Build a detailed and accurate reporting system to comprehensively track ad performance.

Focus on One Main Objective

Choose one primary objective to track and optimize, avoiding spreading resources across too many goals.

By implementing these 13 strategies, you’ll gain a significant competitive advantage on Facebook Ads and achieve better business results. Continuously test and optimize to find the strategies that work best for your business.