Third party tool providers have struggled in justifying why Facebook advertisers should use their system versus what they can do in the ad manager user interface already. The recent addition of the power editor makes it that much easier to create hundreds, if not thousands of ads. Thus, the value proposition of third party tool providers who say they can create thousands of ads in minutes is now neutralized.
Here’s what the power editor does not do, which still provides opportunity for tool providers to add value:
Sponsored stories— the like and post stories provide fantastic performance in click-through lift and reduction of cost per fan.
Bid management— if you’re bidding to a cost per conversion or a cost per fan, Facebook doesn’t help you here. The ad with the lowest cost per click is not necessarily the one that converts the best, just like in paid search.
Creative optimization— The new creative library is a good first step to categorizing old ads, but doesn’t have awareness of what images work best with certain interest targets and demographics or what messaging ties with what images (nobody does this yet, to be fair).
Sophisticated reporting— The new reach and frequency reports are interesting, as they do help you better see creative burnout, but there is not yet target based bidding against thresholds, trending, keyword research, and so forth.
To be fair, a common refrain we hear from tool vendors is that Facebook releases new features in the UI before they are available in the API. This reduces incentive to use the API. Our recommendation to Facebook is to make features available in the API first and then the UI, since the most sophisticated users will be accessing PPC campaigns programmatically, just as is done with traditional PPC.
Following is a guide to using the new feature.
What Is the Facebook Power Editor?
The Facebook power editor is an upgraded version of the previous bulk uploader. It allowed you to mass multiply, edit, create and optimize ads in just a couple of minutes. This little tool will save you hours of work as opposed to manually uploading each and every ad. Comparatively, a regular ad on Facebook may take 3-5 minutes each. But with the copy and paste functions of the Power Editor, these little tasks should take no more than 30 seconds!
How do I download the Facebook Power Editor?
1. First off, you’re going to need the Google Chrome browser.
Google Chrome is the premiere web browser from Google, and is a free download. Go to www.google.com/chrome and download.
2. Now, visit your Ads Manager at www.facebook.com/ads/manage and click on your Ad account
Then click on the power editor tab on the left side of the Ads Manager
Now click “Install Power Editor”
Alright! You now have it installed! Click on “Download”. You can choose to download all your accounts or select certain ones only.
How to Navigate Within Power Editor
Before using power editor to make changes to your ads or campaigns or create new ones, you can start by analyzing the performance of your current ones.
You can customize the metrics you want to see about your ads and campaign by clicking on “Settings” in the right hand corner and selecting or deselecting each metric for both the Ads and Campaigns tab.
You then need to click on the “Stats” drop-down button in the top navigation bar in order to select a date range and get stats from this range.
4 Ways To Edit Your Ads And Campaigns
3 Ways To Create New Campaigns
4 Ways To Create New Ads
Note: The power editor currently only allows you to create ads, but not Sponsored Stories. The Sponsored Stories must be done manually.
Upload Your Changes
Tips for using Excel with Power Editor
And there you go! Now go forth and create some ads!
Dennis Yu has helped brands grow and measure their Facebook presences. He has spoken at Search Marketing Expo, Search Engine Strategies, Web 2.0, The American Marketing Association, PubCon, Conversational Commerce Conference, Pacific Conferences, HostingCon, Affiliate Summit, Affiliate Convention, UltraLight Startups, MIVA Merchant, and other venues. Yu has also counseled the Federal Trade Commission on privacy issues for social networks. Yu has held leadership positions at Yahoo and American Airlines. His educational background is finance and economics from Southern Methodist University and London School of Economics.