Find offers your competition is promoting on Facebook

1. Go to the Ad Library under the Page transparency > Ads section on your competitor's Facebook page.

If the page is running ads, you’ll see This Page is currently running ads.

2. Use the drop-down menu to set filters so that you only see the types of ads you're interested in.

You can filter by country, platform date, and keyword. Pay particular attention to the date when the ad started to run. The longer the ad is running, the higher the likelihood that the ad is successful and brings positive results.

3. Create a document or spreadsheet of ads by taking screenshots that you can later use when creating your own customer acquisition process.

Also called a “swipe file,” these screenshots will give you inspiration whenever you’re staring at a blank white screen.

4. Click on the ads in the Facebook Ads library to see your competitors' landing pages.

Viewing the landing pages will give you additional insights into copy, offers, and calls to action.

5. Get insights into your competitors' marketing funnel by following any calls to action, including signing up for email lists.

By participating in their funnel, you will see what offers they have in place on the back end that maximizes customer lifetime value. You might need to purchase something to get the information about their offer, but this should be considered as an investment to see what’s working. If you want to refer to this information later, make sure to record your screen when going through the funnel. You can even record audio and talk through your first impressions.

6. Repeat this process for multiple competitors and borrow the best strategies and ad copy from each.

Resist the temptation to simply copy and paste what your competitors are doing. Instead, use their work as inspiration as you craft your own ads.