Facebook Ad Library Research: Want to know what ads your competitors are running on Facebook and how to use the information?

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Sometimes you wonder how other companies like your own are running their ad so you can learn from them. That was just a dream from many small business owners but now companies big and small have access to the Facebook Ad library.
In general, what the Facebook ads library will show you are information such as:

When the page was created;
Countries where the people managing the page are from;
Facebook ads that are run by the page; and,
Whether the page has run ads related to politics

In terms of Facebook ads run by other companies in your niche, you will be able to find out:

If your competitor is running an ad or had run ads
What ads they are currently running
Different ways they are split testing their ad.
How much money they are spending on their ad.

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2 ways to find out about the ads your competitors are running using the Facebook Ad library:

Option 1: Page Search

If you know the name of the Facebook business page of the company you want to check, do the following.

Go the Facebook page of the company you are interested in.
Click, “See More” in the “Page Transparency” section below your Facebook page’s CTA.

In the “Ads From This Page” of the “Summary” dashboard, click “View in Ad library.”
All ads about the company in your niche will show. You can filter it by country and you can also look for active or inactive ads.

Option 2: Topical or keyword-related search

If you just want to see what ads are running out there in your niche, just search for keywords, or a topic, in your industry by going directly to the Facebook Ad library, link here.

You can filter the search by:

Country
Active or Inactive
All Page or select from the drop down. (Note: Not all pages will appear here.)

With such information you have in your hand how should you use it?

Your business is as unique as your competitor – staff, ads budget and time.
My suggestions as for the best ways to use this much information at your disposal?

Create a unique ad copy to stand out. Research the Facebook Ad library to make a better ad version. Creating exactly what others are publishing in your niche will make you just like the rest of them; besides the fact that it is unethical.

Research to stand out.Click To Tweet
If you merely copy what others are doing, you will never stand out from the rest of the competition. Be different. Be yourself.
Split test your ad. Never run your ad that is only based on assumptions. Assumptions can be costly. Split-testing your ads is the best way for your business to dominate your niche and save money in the long run. You will be surprised what works out well in your industry.