Facebook Ad Library is a useful tool for marketers as it gives them everything they need to fine-tune their digital marketing efforts. It gives them critical insights into their competitors’ marketing campaigns for free, letting them improve their ad imagery, copy, and formatting. But that’s not all! There’s a lot more you can do with the Facebook Ad Library and explore some cool ways to use this handy tool to your benefit.

Here’s how you can take advantage of this wonderful tool.

1. Explore New Industries to Expose Your Business

For most of us, the Facebook Ad Library is a way to analyze our direct competition and come up with a better strategy to beat them. But there is more! There are a lot of other brands and industries worth looking into, and you can get some amazing ideas from there.

You can start by searching for a brand complementary to your industry and see what their competitors are doing. Try to figure out what strategies they are implementing to beat the competition, how the two campaigns are the same, and what you can take from them to improve your marketing efforts. Start testing and see the results.

2. Pick Up the Trends

Just make a few searches and browse through the Facebook Ad Library, getting to know the latest trends in copy, design, layouts, offers, etc. For instance, you can try to establish what type of ads are brands are currently using. Are they more inclined towards video ads or image ads? Do they prefer slideshow ads or carousel ads? You can also know the length of time for which different ads have been live. If they’ve been running for a long time, they are bringing great results. It indicates that the ads are performing well with the users on Facebook. You can then tailor your efforts accordingly.

3. Reverse Engineering Funnels

You’re likely to have a funnel of your own ads, finely tuned to meet your marketing goals. However, not all ads are made equal, even when they have to serve the same audience and purpose. You can get some critical information by clicking through your competitor’s ads and reverse engineering their funnels. Research their funnels and pull out all necessary information to get an idea of exactly how they set it up. Look into their landing pages and the personalization and uniqueness of these pages. Figure out what’s missing and what they are doing better. See if they have any special offers or discounts in place. Compare it with yours and see where you need to improve.

4. Improve Your Copywriting

Copywriting can be daunting, and sometimes, you even spend hours staring at a blank page, not knowing where to start. Fortunately, you can use Facebook Ad Library to get some inspiration. There is no better place to get new ideas for your ad creative than your competitors. If you don’t want to imitate the style of your competitors, you can search for other companies, even from other industries.

5. Use Filters for Searching for Particular Media Types

You can now search for ads in the Facebook Ad Library and filter them according to their media type. Your filtering criteria can specify if you want to look at ads containing images, videos, memes, or video transcripts. Get some inspiration for your campaigns and figure out what type of content brings you results with your target audiences. If you want to experiment with memes, first explore what kind of results your competition received using this tactic.

While Facebook Ad Library isn’t yet the most sophisticated tool on the horizon right now, it gives you a wealth of information related to your competitors’ ads and campaigns. Marketers can easily leverage all this information for setting up ads that bring huge returns.