5 reasons why small businesses need to master Power Editor
CIMMFest (Chicago International Movies & Music Festival) celebrated its 6th annual fest in May. As a non-profit with 75 bands and 75 films in a variety of Chicago venues, had big ticket sales goals but a relatively small budget to drive ticket sales.
In the months leading up to CIMMfest 6, we leveraged Facebook Power Editor to help drive record ticket sales (ticket sales increased 28 percent in 2014). Just as the festival grows year to year, the tools available to us via Power Editor this year are a full cycle better than what was available last year. For example, this year we utilized custom audiences based around ticket buyers from last year’s fest, similar audiences to find people like them, targeting around Band and Film Interests as well as 3rd party information like targeting online buyers.
None of these options even existed in Facebook ads one year ago. We optimized campaigns to drive ticket sale conversions, song downloads and website clicks. All campaigns and ad sets promoting over were created and housed through Power Editor, and we were able to run lean campaigns focused only on selling tickets and adding new people to the top of the CIMMfest funnel.
Small businesses that are looking to begin advertising on Facebook usually go to one of two routes: they use the simpler Facebook Ads Manager tool or use a PMD tool through an agency. The problem for small businesses is neither address the need for small businesses to execute ‘bang for the buck’ campaigns. Ads Manager is focused on simplicity and mass market usability, and the cost for a PMD to build a custom ads tool is often best recouped by big brand ad spends. If you are concerned with ROI and ad spend effectiveness, learning Facebook Power Editor is worth the time to master the tool for 5 primary factors:
1) Cutting Edge Speed
Facebook launches and tests its newest targeting capabilities through Power Editor. Small businesses can’t wait for Ads Manager or PMD tools to catch up — they are always months behind. There is a real competitive advantage to being among the first to use a new targeting option, for example. The facebook ads platform gets more robust by the day, and if you aren’t using Power Editor, you will always be competing with advertisers who have master tactics that you’re just starting to use.
The targeting in Power Editor is superior for 2 main reasons. One, the placement tool is far more granular and small businesses can’t afford to waste clicks. Far more importantly, the 3rd Party Data Provider targeting provides more options while also cross filtering with Facebook’s own data to ensure a smaller, and more accurate audience.
Many small businesses make the mistake of not having a clear goal (or goals) when they begin social advertising (‘more likes’ is generally not the best goal). Power Editor allows a business to optimize ads for multiple campaign goals, i.e. optimizing for clicks and sales, or email submits and sales. Ads manager in its simplicity currently only allows to optimize for one action at a time.
4) Organization and time management
Power Editor’s ability to handle bulk changes in importing, editing, and copying ad campaigns allow the business to quickly launch and perfect ads. The new tags feature allows for great organization.
5) Save Money
Ultimately, maximizing profit via eliminating waste in spend allows marketers to prove ROI – all vital to a resource-sensitive small business. The ability to test more targeting options or decreasing costs can mean the difference between a campaign that exceeds expectations and one that is unsuccessful or hides behind unclear goals.
As Facebook’s ad products continue to multiply it only makes taking the time to learn Power Editor now, all the more imperative.
Co-authors Brian Davidson and Chris Madden are the co-founders of Matchnode Digital Marketing.