How to Target Competitor Audiences on Facebook
In digital marketing, gaining an edge is vital. One potent strategy is targeting competitors' Facebook audiences.
In this article, we'll explore four effective strategies for reaching and engaging your rivals' Facebook audience.
How to Target Competitor Audiences on Facebook
Targeting your competitors' audience on Facebook involves competitor analysis, using Facebook’s lookalike audiences, ad targeting with competitor keywords, and leveraging Facebook page engagement.
1. Competitor Analysis
Before undertaking your quest to capture your competitors' audience, it's critical to conduct a comprehensive competitor analysis.
Identify your main competitors on Facebook, analyze their content, and assess their engagement strategies. Social media monitoring software can help you track their activities.
By understanding your competitors' tactics, you'll be better equipped to devise a successful plan to target their audience.
According to UX24/7, competitor analysis uncovers opportunities by understanding what customers like about competitors and where competitors have shortcomings, guiding businesses to meet customer needs better.
2. Using Facebook’s Lookalike Audiences
One of the most potent tools in Facebook's arsenal is lookalike audiences.
Leveraging this feature allows you to create audiences that closely resemble your existing customers.
Begin by uploading your customer data to Facebook, and the platform will identify common traits and characteristics.
It enables you to target individuals who share similarities with your competitors' audience, increasing the likelihood of conversion.
However, according to Hootsuite, you'll need at least 100 people from the same country in your source audience for Facebook to generate a lookalike audience.
Here are five steps to effectively use Facebook's lookalike audiences:
1. 1. Prepare Your Custom Audience
Create a custom audience in Facebook Ads Manager, consisting of people who have already interacted with your business.
1.2. Select Lookalike Audience
Choose "Lookalike Audience" as your audience type in Facebook Ads Manager.
1.3. Choose a Source Audience
Select the custom audience you want to find similar people with.
1.4. Set Audience Size
Adjust the audience size to balance resemblance with reach.
1.5. Use in Ad Campaigns
Target your lookalike audience in your ad campaigns to reach people who share characteristics with your source audience, increasing the chances of engagement.
3. Ad Targeting with Competitor Keywords
Harness the power of keywords associated with your competitors. Incorporate these keywords into your Facebook ads to ensure your content reaches the right audience.
Design compelling ad copy that resonates with users who have shown an interest in your competitors' products or services.
By associating your brand with well-established competitors, you can attract potential customers who are already engaged in the industry.
Competitive keyword analysis, according to Wordstream, is essential in a crowded industry to gain a significant advantage over competitors.
Knowing your rivals' targeted keywords helps optimize strategies to stand out and attract more customers.
For instance, Burger King playfully used "Big Mac" in their Facebook ads to show up when users searched for McDonald's, potentially luring some of their customers.
4. Leveraging Facebook Page Engagement
According to Sprout Social, video posts have a 0.08% engagement rate on average, while status posts have a 0.11% engagement rate.
Monitoring and engaging with your competitors' Facebook page followers can be a strategic move. Respond to comments, answer queries, and participate in discussions on your competitors' pages.
By providing valuable insights and solutions, you can position your brand as a viable alternative. This engagement can interest your competitors' audience and entice them to explore your offerings.
For example, Samsung engages with Apple's Facebook followers by posting content that directly hits on their competitor, Apple.
Wrapping Up: How to Target Competitor Audiences on Facebook
By implementing the following strategies, you can efficiently access a pre-existing market of potential customers within your competitors' audience:
Competitor analysis
Lookalike audiences
Keyword-driven ads
Engagement on competitor pages
In digital marketing, staying ahead demands creativity. Targeting competitors' audiences sets you apart.
