Enhance Facebook Marketing with the Power Editor
Posted by Joy
Facebook marketing is one of today’s most effective online tools at any business’ disposal. No matter how big or small your company is, or what size of budget you have to work with, Facebook can offer ways to reach your target demographic and increase sales. Since 85% of all social media originating sales come from Facebook, and the average value of a Facebook generated sale is $55, directing some adspend to the platform makes a lot of sense.
Small business owners will find Facebook a powerful tool they can leverage for increased revenues and brand visibility. The site has over a billion active users and is one of the most heavily trafficked social media sites in the world. Many plugins and applications that have been created to supplement the core functions of the site; of these, the Power Editor is the most useful.
Statistics for Facebook sales are skyrocketing. Both sales originating directly on Facebook and sales from sites that receive traffic from Facebook are seeing increasing success. In fact:
- Ad clicks are increasing 70% year over year, and ad click-through rates are increasing 160%.
- Users bought $234 million worth of virtual goods and gifts on Facebook during Q2 of 2014.
- Facebook’s user base grows by eight people per second, or 7,246 people every 15 minutes.
Businesses that target ads correctly can achieve incredible ROI. Determining your “most likely to buy” demographic is key to running successful Facebook Ad Campaigns. In 2015, several small businesses stood out with their leverage of Facebook to increase revenue, including:
- Mikes Bikes. This small business ran a back-to-school ad campaign targeting college students using Facebook’s Carousel. A $2,000 investment over 3 months raked in a staggering $40,000 worth of sales, and 1,400 clicks through to the company website.
- Six Month Smiles. A network of dentists sought to increase consultations for their fast tooth straightening system by targeting women aged 18-40. They used Facebook Custom Audience ads to offer a $500 discount on the program, and only spent $7 per lead to rake in over 11,000 potential patients’ contact information.
- This ready-to-eat food delivery service used Facebook’s Geo-Targeting and Look Alike Audience features to specify potential customers in its delivery range in Seattle. The company launch garnered 70% of its new leads from the Facebook Campaign.
Companies ranging from start-ups to big names like Land’s End, A&W, Heineken and Zynga also had success with Facebook Advertising in 2014/2015.
Advertising Your Business on Facebook
While Facebook has a robust Ads Manager, with a variety of functions, using Power Editor is key to creating strong, targeted ad campaigns, running split testing, and taking advantage of reports.
There are three levels to the ad process.
- Campaigns. All of your ad sets can be found within your campaigns.
- Ad sets. When targeting separate audiences with different characteristics, develop an individual ad set for each before creating the actual ads.
- Ads. The actual ads can be found within the ad sets. Each ad set can hold a variety of ads that vary from ad to ad for split testing.
There are two potential methods for handling your ad campaigns. The first is the familiar Ad Manager, which is great for those new to ad creation. The second is the Power Editor, which provides much more control and more specific targeting for a higher ROI.
If you are already using Ad Manager, it’s simple to switch over to the Power Editor. Just install the Power Editor Plug-In (it works best in Chrome), and download your data to the Power Editor. This will port all of your existing ad campaigns and associated data.
Why Power Editor is the Best Choice
Creating ads and posts in the Power Editor gives you more flexibility than the simple Ads Manager does. You can create longer posts and headlines, create Unpublished Posts (or “Dark Posts”) that don’t have to be published to your page to test on audiences, and update or edit multiple ads at once (to change offer dates on AB split test ads, for example.)
You can easily drill down in the Power Editor to view campaigns, ad sets, and individual ads. You can also edit and compose ads in the Workspace, and create a pixel to track conversion rates. The Power Editor will allow you to track multiple objectives and conversions, and optimize your bidding to get the most out of your allotted adspend.
Depending on the action you wish to see taken, select what kind of conversion should be tracked. This could be a viewer:
- Liking the Page or Post.
- Visiting your website
- Making a purchase
- Submitting contact information
- Downloading a free gift
Once you have selected an objective for your ad campaign, add the name of your ad campaign in the proper field. Then you are ready for the most important step – creating an ad set designed to generate the most response and refining your audience for maximum ROI.
Refining Your Audience With Power Editor
The Power Editor is a tremendous tool for easily creating campaigns, ads, and ad sets (and for split testing ads), but where it really shines is in the targeting portion of the campaign creation process.
Facebook allows you to target potential customers in a wide variety of ways. The most obvious demographics break down by gender, age, and interests. The Power Editor allows you to target even more specifically.
- Device Selection is now an option. Do you want to target PC users, or refine your audience to target mobile users? Mobile ads typically have a higher ROI, and you can even choose to specify mobiles which are connected to wifi signals, all mobiles, feature phones, or specifically android or iOS devices.
- Local Audience targeting lets you zero in on Facebook Users by as narrow a specification as zip code. You can further optimize your audience by choosing to include or exclude people who already know about your business.
- Custom Audiences can be created by importing data from your own files or email lists, including data gathered from previous web traffic or visitors to specific pages or portions of your site. The tool can also be used to generate Look-Alike Audiences by searching other Facebook Users to pull out those who match your best demographics.
- Call to action buttons allow you to generate a “Call Now” option or a “Get Directions” option on mobile, driving actual foot traffic towards your brick and mortar location. When combined with a coupon code or special sale, this kind of add can increase day to day revenue exponentially.
- The Facebook Groups App lets you target those who have had contact with your brand before, and expressed interest in new product launches, sales, and more.
- Instagram Marketing can be managed via the Power Editor, allowing you leverage the highly visual image sharing platform and expand your reach with Facebook Ad integration.
Once an audience is created for you, you can save it in the Power Editor for reuse later, without having to go through the steps to recreate it.
Power Editor is definitely the strongest tool provided by Facebook to help you create effective ad campaigns that deliver increased revenue. Start using Facebook Ads as a major component of your online marketing plan, and see your business grow!