In recent years, Facebook’s Advertising algorithm for Campaign Management Automation has improved so much that it can now easily outperform a human manager. All these changes over a period of time came through several updates, best practices, and new features. Facebook Power 5 is one set of features that has completely revolutionized Digital Marketing. It contains all the current best practices for Social Advertising and includes all the major changes that have taken place in recent years.
When used together, the Facebook Power 5 tools produce better results for advertisers, resulting in a better ROI for E-commerce campaigns as Facebook uses its data, Statistical Models, and Machine Learning to drive better business-oriented results. Upon a complete walkthrough of this article, you will be having a decent understanding of each aspect of Facebook Power 5. You will also be learning how to leverage them to boost your revenue to new heights. Read along to learn more about Facebook Power 5!
Table of Contents
- An active Facebook Business Manager account.
Introduction to Facebook Power 5
Facebook recently announced a new strategy called Facebook Power 5 for structuring Advertising Campaigns that can be leveraged by advertisers. This method outlines 5 intuitive tactics that require less manual labor and rely more on Facebook’s Machine Learning Algorithms and Automation. You can implement these strategies individually, but to get the maximum throughput, Facebook recommends you to run them in conjunction.
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5 Key Pillars of Facebook Power 5
To understand the full potential of Facebook Power 5, you need to take a closer look at the pillars of Facebook Power 5. There are five key elements to the Facebook Power 5. They are as follows:
1) Auto Advanced Matching
Auto Advanced Matching is one of the key pillars of Facebook Power 5 which simply refers to giving Facebook more details about your customers. Holistic customer data means bigger, better, and more meaningful audiences, which ultimately results in better targeting of your Advertising Campaigns. Automatic Advanced Matching may or may not have a huge impact on performance, but it surely makes a lot of things easier and gives Facebook additional data to feed into its algorithms.
Every customer has a unique Facebook ID and this information is sent to your Event Manager by Pixel so that you can read the data. Thanks to the Auto Advanced Matching, Facebook can use any input field such as Name, Phone Number, Email, State, and Zip Code to better match the visitors on your website to your conversions.
For example, let’s say a customer clicked on your Facebook Ad and made a purchase from your website. In order to make the purchase the customer has to enter credentials, Facebook uses this information to match with their unique Facebook ID in order to create a more precise profile of your customer.
To turn Auto Advanced Matching on, follow the steps given below:
- Step 1: Log in to your Business Manager Account.
- Step 2: Navigate to the Settings of your Event Manager.
- Step 3: Toggle Auto Advanced Matching on and you can also select the fields that you would like to match.
2) Campaign Budget Optimization
Campaign Budget Optimization is one of the most used Facebook Power 5 tactics. This feature helps finalize the budget for your Advertising Campaign at the Campaign level. Facebook then uses Machine Learning to allocate and distribute its budget to the Ad groups that are performing the best.
You can leverage Campaign Budget Optimization by following the steps given below:
- Step 1: Go to your Facebook Ads Manager and click on the option Campaign.
- Step 2: Toggle the Campaign Budget Optimization on and enter the amount that you want to spend on the Ads Campaign.
3) Simplified Account Structure
Instead of creating multiple Facebook Campaigns (with multiple ad sets) having the same goals and trying to get to know your target audience every time you set up a new campaign, Facebook recommends using a Simplified Account Structure as one of the key tactics of Facebook Power 5 to make sure your Ad sets resonate with the prospects.
If you use multiple ad sets, you can end up competing with yourself trying to reach the same users via different Advertising Campaigns which might eventually lead to an audience overlap and wastage of resources.
4) Automatic Placements
Facebook allows you to place your ads across different platforms like Instagram, News Feeds, Messenger, and many more. You can showcase your ads on these platforms based on your target audience and campaign objective. Selecting different platforms to promote your Advertising Campaign might be tedious at times and this problem can be solved by Automatic Placements. Automatic Placements is included in Facebook Power 5 as it leverages Machine Learning algorithms to understand your target audience and on which applications they are most likely to spend their time on. This enables Facebook to place your ad in front of your target audience at the right time which increases the number of conversions at a lower cost.
Managing your Advertising Campaigns with multiple Ad sets can be time-consuming. Hence, you can also use Facebook Ads Automation to reach out to your potential customers while saving a lot of time.
To use Automatic Ad Placements, you can follow the steps given below:
- Step 1: Go to Facebook Ads Manager by signing in with your Facebook credentials.
- Step 2: Navigate to the Ad Set section.
- Step 3: You will see a list of options in the Ad set section.
- Step 4: Click on Placements and then select Automatic Placements which is the recommended option.
5) Dynamic Ads
Facebook Dynamic Ads are shown to Facebook users, only after their actions have triggered a specific event on your website. For example – if a customer visited your website and added some items to their shopping cart, but didn’t complete the purchase. You can use this event to trigger an ad encouraging the customer to complete the transaction. Dynamic Ads are powerful because they target a customer based on their exact behavior and deliver a highly relevant ad.
To have a Dynamic Ad you must upload your product information to the Product Catalogues. Most of the E-Commerce Platforms work with Facebook and allow you to create a Product Catalogue in a few simple steps. You can also upload a Product Catalogue manually or use a CSV file to create it with all of your product information. Follow the steps given below to do so:
- Step 1: Navigate to the Assets section in the Facebook Business Manager.
- Step 2: You will see a list of options in the Assets section. Click on Catalogues.
- Step 3: Once you click on Catalogues, you will be prompted to upload information about your product and connect your website to a list of Facebook’s integrated partners.
Facebook Power 5 is meant to decrease the manual work for advertisers who primarily rely on Social Media to promote their business. Facebook Power 5 provides granular data to the users to tailor their Marketing Campaigns and efficiently optimize the results. However, to carry out an in-depth analysis of your customers, you would often need to extract data from multiple sources to have all insights. Integrating and analyzing your data from a diverse set of data sources can be challenging and this is where Hevo Data comes into the picture.
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Hevo Data is a No-code Data Pipeline and has awesome 100+ pre-built integrations(including 30+ free sources) as well that you can choose from. Hevo can help you integrate data from numerous sources such as Facebook Ads and load it into a destination to analyze real-time data with a BI tool and create your Dashboards. In addition, Hevo supports Facebook Ads Connector as a free data source, hence you can leverage Hevo’s No-code data pipeline to leverage data from Facebook Ads for absolutely free. It will make your life easier and make data migration hassle-free. It is user-friendly, reliable, and secure.
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