How To Target Your Competitors' Customers With Facebook Ads!

0:00hi guys has been Heath from lead guru and in this video I'm going to show you how to target your competitors customers with Facebook Ads now why you would want to target your competitors customers with Facebook Ads is fairly obvious particularly if you have a product or service offering that's better price that you can undercut your competition on price or perhaps you've innovated in some way and the product or service that you offer is superior to your competitors product or service and why not advertise to their customers you know those people are going to be interested in what you have to offer because they're already buying and

0:31equivalent potentially in inferior equivalent and being able to put your superior offer in front of them might be a great way a very cost effective way of acquiring a lot of new customers and so the advantage is obvious how do you go about doing it because it's not as straightforward and in many cases as it would seem so there's basically two methods of doing this I'm going to show you both and it depends on how large your competitor is if you go out to do is it's a big business a well-known brand it's a lot easier to target their customers than it is if they aren't so

0:58let's say let's go ahead and jump into the steps before I do that which one of quickly mentioned at the end of this video I'm gonna be telling you about a new free resource about Facebook advertising but I think you're going to find really really useful so make sure you stick around to the end of video for that but with that said let's get into the steps on how we go about identifying your cutter your competitors customers and how we go about targeting them so that you can grab them for yourself and so I'm in a demonstration Facebook ad account here and don't worry about all

1:26the example campaigns and stuff I'm just gonna go straight to the the methods of doing this if identifying your customers competitors and targeting them so what we're gonna do is just I'm just gonna go into this example CBO campaign here and I'll create a new ad set and I'm gonna demonstrate the first method which is it the sort of easy way the works part of the time so let's just call this [Music] competitor customer and set okay let's save that to draft and I what you want to do very very simply the first thing you want to do if we do anything else is test to see whether your competitor this

2:06business is an interest targeting option so for example I produce a lot of content on Facebook advertising so if I was to think I who are some of the big content producers to do with Facebook advertising online and one guy one of the guys that comes to mind is Jon Loomer so if I go ahead and pop him in here okay that hasn't come up maybe I've spoke John wrong I'm sure he's an option if I put in Leela oh yeah so John without an H so Jon Loomer digital now if I wanted to target his audience his customers this would be a fantastic way of doing it because he has

2:42come up here as an option Jon Loomer digital now he's come up with an interest and as you can see if I if I hover over this you can see what Facebook says so the people that will be included in this interest targeting option are people who have expressed an interest in or like pages related to Jon Loomer so that's gonna include people that like his page primarily most of these people have been people that like John Lewis page they could face but can include some people that have interacted with this content and things like that on Facebook but primarily is gonna be people like his page now the people that

3:13like his page aren't necessarily going to overlap a hundred percent with his customers there's going to be people that like is page then interact with his business on Facebook that haven't become paying customers particularly in his scenario because he's very much a Content producer in other businesses people that like the page are far more likely to be an existing customer but you can sort of gauge that depending on what sort of industry you're in what the competitor is etc but well you can basically guarantee is that the majority of his customers are going to be in that group there might be other people in there but his customers are going to be

3:48in there so using this as an interest targeting option if I wanted to target John Loomis customers let's say I've got better quality content I mean by the way for the record I think John would produce fantastic stuff but if I thought I had better quality content or something better to offer the more he offers then that's something that I could go ahead and test so the person you want to do and this is particularly effective if your businesses are if your competitor that you're trying to basically steal customers from is well known and established brand in your industry if they're not when you go to

4:21search for them in this little search box here they simply won't come up as an option and if they don't come up as an option you can't use this the new type is an option great go ahead and target this audience that's how you target your customers competitors with Facebook units so that's method number one very very straightforward but as I said the business name won't always come up here as an interest particularly if the competitor isn't that large if that's not the case if that if they don't come up then you want to go ahead and use a second method so for the second method assuming that

4:51your competitor did not appear as an interest targeting option here at the ad set level you want to go ahead click on these three down lines and go ahead and go over to audience insights but I say three no lines and Facebook uses different interfaces for different ad accounts so depending on whether they've changed you over to the new version or kept you in the old version like this this is being recorded in 2020 it is not today video but but yeah Facebook changes different interfaces different time so don't worry about that whatever if things are in a slightly different place the functionality is still going

5:20to be there and that's the most important thing anyway you want to go ahead and come over to audience in size and you want to select everyone on Facebook okay and the first thing need to do when using audience insights is select the locations that you want to target so for example I'm truly this is the US for demonstration purposes but if I was just advertising in the UK I would want to change that to just the UK okay that makes sense because whatever the data whatever data is displayed here is going to be representative of that location only some believe it is the US you will leave everything else open age

5:52gender code etc and then you want to go ahead and pop that competitor's name in here now you'd only reached this stage assuming that the first method didn't work but let's say for example I wanted to pop in Jon Loomer in here I'll use him as a demonstration for this for this video so the starters you can find some really interesting information about your competitors audience your competitors cust customers in this section here so I can see that for example John Loomis audience is slightly more male than female and bearing in mind that 55 percent of Facebook users are female so Facebook is more slightly weighted female and I can

6:31see that people are far more likely to be married they're more likely to be highly educated if they follow Jon Loomer so you can find interesting data in here that you may find useful but the part that I find really interesting is if you come in to pay trikes let's go take a second to load and what you're looking for and these options up here so these sort of these are page likes by category so people that like the Jon Loomer page you're interested in Jon Loomer are also likely to be interested in ezra firestone and leadpages and add espresso this things all make sense to me the

7:06people be more like to be interested in that if they're interested Jon Loomer so what you want to do is make a note of all of these interest targeting options you know Marie Smith these are names within the industry so make a note of these targeting options and try and gather as many as you can you may need to sense check these so it might be that some that come up just aren't really that applicable you know so these actually all look fairly applicable to me but for example you can see that one of them you go oh okay people that like my competitor liked that page but that page isn't really

7:39that's not really relevant to my audience or something like that it's us finds to discard those otherwise make a note of all those so you grab this top section and then you also want to come down and you want to grab this this this bottom section down here and here's we can see affinity scores so affinity is how likely the audience that you're researching is to like another page okay so for example people who are interested in Jon Loomer so they have a Jon Loomer interest are unsurprisingly 10,000 times more likely to like the Jon Loomer paged in the average Facebook user okay no surprise there but here's the

8:17interesting part they're eight the half thousand times more likely to like Rick Rick more ready and five thousand times more likely to like social mouths except etc and you go down the list okay now that's really interesting because you want to make a note of all these targeting options now I call these targeting options some of them will be and some of them won't be okay so what you wanna do is you want to make a note of these click see more grab a whole bunch so you can grab ones that are larger you can see Mary Smith's got a big one that's great but just make a note of all these

8:52options here as I said you can keep seeing more if you need to find 2030 that's absolutely fine you make a note of those now let's assume that Jon Loomer digital wasn't a targeting option when we went to our ad set some of these options from the combinations up here or the ones you find down here will be you will be able to find some that are targeting options are interest targeting options in at the answer level when you set up your Facebook ad campaign and those you can target okay does that make sense so let's say for example let's try and do this as an example so let's say I

9:28was to start here and I wanted to grab me Edgar or Facebook for business or let's just jump from from one to the other so if I now jump back into ad manager we can have a look to see whether that's available or not so now that we're back in an ad manager we can go back into our example CBO campaign we can hunt down our competitor customer ad set that's one we were working with before click Edit don't worry about all these warnings mr. demonstration had accounts that's all fine so this is where we were adding in Jon Loomer but let's say John Neumann wasn't an option we went over to

9:59Facebook audience insights we researched John Lumas audience to find those other options and we could pop those in so we could pop in for example Facebook for business okay that sounds like a really good option and if you want to target those people or even Mary Smith was one of the options we could target that audience instead of okay and if you wanted to have a number of different options than fine now because we know that Marie Smith is the audience is overlap very heavily there's a high affinity score with John Loomis audience there's a good chance that this interest targeting option is going to contain

10:40John Loomis customers does that make sense if someone is very likely the people that like John Leamas page are very likely to be John nearby customers the people that might rip John Yuma's page are also very likely to be Mary Mary Smith's customers so by targeting Mary Smith assuming this is assuming John Newman wasn't available by targeting Marie Smith and and people who are interested in people who are including this audience we are going to have a number of jon memmer's customers crew included in our audience now it's not gonna be a hundred percent accurate and some will be more accurate than others okay so be aware that when

11:20you run this maybe only ten percent of that audience will actually be your competitors customers but that's still going to be a lot better than trying to find them just through other broad interest targeting options or something like that this is still a good way to go about targeting your competitors customers something I'd recommend you try it can get difficult targeting competitors customers on facebook it's only something I'd really recommend if your product or service is demonstrably better than theirs so it does it have a great new feature are you better than them on price otherwise you're gonna have a real hard time convincing those people just switch from

11:54the current business that they're buying the product service problem to yours unless it's much better but if it is this can work very well I've take a look at a number of campaigns that have used this this this strategy of targeting competitors audiences quite effectively so so yeah that's how you do it those are the two methods give that a go and let me know how it goes okay so I said the beginning of video I was going to talk about a free Facebook advertising resource that I think you'll be very interested in and that's a free training that I've put together called three killer Facebook and strategies to double

12:25all more your revenue and in that training I've broken down the three Facebook advertising strategies that we use all the time for our clients we've generated seven plus figures multiple times with each one of these strategies there try and trusted and work very very well and I sort of break them down I am straight exactly how to implement them I also very importantly tell you which one you should be using for your business specifically you know I give three strategies because one of the strategies is the one you want to use if you're advertising a thirty dollar product but that's not the same as if you're

12:59advertising a ten thousand dollar service you need different strategies and that's why we use three I'm not a big fan of and one-size-fits-all when it comes to Facebook advertising that just doesn't work as an agency owner myself I know that straight up doesn't work so so go ahead and check out that training is completely free there will be a link in the video description go ahead and click on that can watch that it's about 60 17 minutes long something like that I'd strongly recommend you go through the whole thing because at the end of the day no matter what you're doing with your facebook advertising no matter who you're

13:26targeting as we've covered in this video no matter how engaging your ad creative is if you do not have the right strategy for your products and services your Facebook ad campaigns will not work they will not be profitable it's not possible so number one mistake I see people make is using the wrong strategy for their products or services so go ahead and check that out and and yeah if you join this video please give it a thumbs up please subscribe to my channel I really spaceback appetising related content all the time and let me know in the comments you've got any questions if you enjoyed this video let me know in the comments

13:55that'd be much appreciated and I will touch your sin thanks a lot guys