Facebook Ad Auction Insights provides valuable data and metrics that can be used for competitive analysis to gain insights into how your ads are performing compared to your competitors’. Here’s how to use Facebook Ad Auction Insights effectively:
1. Accessing Ad Auction Insights:
Navigate to Facebook Ads Manager and select the campaign, ad set, or ad you want to analyze. Then, click on the “Breakdown” dropdown menu and select “Auction insights.”
2. Reviewing Key Metrics:
Analyze key metrics such as impression share, overlap rate, and position above rate. These metrics provide insights into how often your ads are shown in the auction, how much overlap there is with competitors’ ads, and whether your ads are typically shown above or below competitors’ ads.
3. Understanding Impression Share:
Impression share indicates the percentage of times your ad was shown out of the total opportunities it could have been shown. A high impression share suggests that your ads are competitive in the auction, while a low impression share may indicate that your ads are not being shown as frequently as your competitors’ ads.
4. Assessing Overlap Rate:
Overlap rate shows the percentage of times your ad received an impression when another advertiser’s ad was also shown. A high overlap rate suggests that your ads are frequently competing with those of your competitors for the same audience.
5. Analyzing Position Above Rate:
Position above rate indicates the percentage of times your ad was shown above another advertiser’s ad when both were shown in the same auction. A high position above rate suggests that your ads are typically displayed in higher positions compared to your competitors’ ads.
6. Identifying Competitors:
Review the list of competitors provided in the Ad Auction Insights report. Pay attention to the competitors who have a significant impression share, high overlap rate, or low position above rate compared to your ads.
7. Comparing Performance Over Time:
Track changes in Ad Auction Insights metrics over time to identify trends and patterns in your competitive landscape. Analyze how your performance relative to competitors has evolved and adjust your strategy accordingly.
8. Benchmarking Performance:
Use Ad Auction Insights metrics as benchmarks to assess your performance against industry standards and competitors. Identify areas where you can improve to gain a competitive advantage in the auction.
9. Optimizing Strategy:
Use the insights gained from Ad Auction Insights to optimize your bidding strategy, targeting options, ad creatives, and messaging. Adjust your campaign settings to improve your performance relative to competitors and maximize your ad’s visibility and effectiveness in the auction.
By leveraging Facebook Ad Auction Insights for competitive analysis, you can gain valuable insights into your ad performance relative to competitors and optimize your strategy to achieve better results in the auction.