Facebook Power Editor: Optimize Your Social Media Ad Reach
For many, advertising on Facebook involves the self-serve ad tool built into the website’s interface where ads can be created and stories can be boosted for a budget you select. With 1.26 billion users and an average daily use time of 20 minutes, there has to be a better way of marketing with the social media behemoth, right?
That’s where Power Editor comes in.
What is Power Editor? A browser plugin (most compatible with Chromes) that allows for the bulk-editing of Facebook ads. Power Editor contains a wealth of features to get the most out of your Facebook marketing. While in the future, many of these features may be available within the self-serve tool, you can be ahead of the curve by using the plugin now. Today we’ll be focusing on its audience targeting capabilities through the four segments available to Power Editor users: Custom Audiences, Look Alike Audiences, Saved Audiences and Partner Categories.
Facebook recently announced that it was sharing this particular feature to all Facebook advertisers in the near future, but for now, it is available through the Power Editor plugin. Custom Audiences allows advertisers to upload their email lists to be matched to Facebook user profiles so that they may specifically be targeted. For more information on Custom Audiences, please read my in depth blog post on the announcement and its implications for marketers.
Look Alike Audiences
So you can target your current customers and those who are on your email lists, but don’t you want to expand your reach to similar users who could love your goods and services as much as your current customers do?
With Look Alike Audiences, Facebook can take your custom lists and generate a new segment of users that is optimized for either similarity or greater reach. Optimizing for similarity creates a smaller list of Facebook users who are resemble your Custom Audiences, but is a more precise target. If you want a bigger list, optimizing for greater reach will also look for similar users but spares accuracy for quantity.
This feature allows you to create ads quickly and easily by saving audiences you have previously created. You are able to create a Saved Audience in two ways: by saving an audience you targeted through an ad you created or by creating a saved audience from scratch. With the latter option, you are able to create an audience with the same parameters you use when creating an ad (i.e. age, gender, country, interests, etc.).
Facebook has over 500 partners that provide the social network with data about what people do outside of Facebook. These big-name partners such as Acxiom and Datalogix have large, exhaustive demographic data, purchase history and more of U.S. consumers. Some of the Partner Categories segments include: income, whether you rent or own your car, what kind of beverages people drink, or housing situations.
This creates some very powerful possibilities. For example, if you were an online grocery delivery company, you could target audiences who were full-time workers, or based on past grocery spending habits.
When advertisers use these Partner Categories, they are unable to see specific users, but simply how many users on Facebook fall within the categories. Take a look at the example below:
The sheer number of targeted users under each demographic, purchasing habit and other data points creates a great deal of potential for relevant ads.
These audience targets will help advertisers to reach the right people. And the next step? Making sure those users viewing your ads are converting and engaging in the way you’d like them to. More on that in my next post about optimizing ads using Power Editor.