What Are Facebook Business Manager Assets And How To Cash Them?
Heard the surprising News about Facebook Stock? You must have if you are into Facebook Assets and everything about them.
Fb stocks recently fell.
Facebook MarketWatch confirms more than a 4% drop a few days back.
And the drop is attributed to a more surprising reason – the spread of the Corona Virus.
As disturbing as it is, it is startling how the virus is taking a toll on the technology now.
But one day, we hope that the news would be no more relevant, and Facebook assets would also be on the rise again.
Cheers to a Corona-virus free world!
However, while Facebook assets would be back on track for sure, these are not the assets we have gathered here to learn about.
Our point of concern springs and grows from Facebook Business Manager; Facebook Business manager Assets they are!
Where are Assets in Business Manager?
If you are following the series on Facebook Business Manager, you know where to head first.
If not, no rocket science here.
Just head to the left corner as you sign in to your business manager account.
Click on the Business Manager Tab, and your treasure is right there; 4th column from the start, 2nd last if you start from the end.
What are Facebook Business Manager Assets?
Indeed a treasure, if you look closely into it.
To learn the usage of this *Assets* tab in Business Manager, you need first to understand what the term refers to.
Assets in Facebook’s jargon refer to the Facebook business accounts that you are handling, their ads, and ad components – such as images, any apps, pixels, product catalogs, and even your audiences.
When dealing with the assets tab in the business manager (from the main menu), you might find it slightly different.
Here’s what you can access directly and handle from the *Assets* tab in the Business Manager?
4- Shop Locations
5- Brand Safety
What does Facebook Business Manager offer in Assets?
Let’s dig into each of the assets and see the possibilities of growth they offer.
What are the audiences in Facebook Business Manager?
When you are an advertiser, you advertise. Hopefully, we are all clear about this.
But the question is – to whom do you advertise?
To a small or large bunch of highly related people.
That small or large group of related people that care about your product or service and are interested in hearing more about it is your audience.
Exactly, the regular definition of the term *Audience* applies here too.
What are the Audience Options in Business Manager?
Facebook, like other Marketing platforms, has advanced in audiences because this is where the platform and the advertisers doom or boom for the most part.
So, on Facebook, you have the following audiences:
I- Custom Audience
What are Custom Audiences?
A custom audience on Facebook is basically a list of your existing customers that you feed to the platform.
Alternatively, you install Facebook Pixel on your website to track each sale.
Or, you use your own or Facebook’s resources to create a list of audiences that have taken a particular action.
When you are creating Custom Audience from the list, for each customer, the list contains some information – such as name, email, address or phone number, etc. These are called identifiers.
When you provide the information to the platform, it converts it to code and saves it for future usage. This process is called *Hashing*.
But the question is – Why does the system need to feed on your audience list? What does it do with the list anyway? Why do you track sales and keep a record?
Keep reading to find out.
Why use Custom Audience?
There are many uses of custom audiences. For instance:
- While promoting a product, you don’t want to advertise it to your existing customers when they have already purchased it. With a list of existing customers for a product, you can ask Facebook not to show the ads to these customers from your list.
- When you want to upsell only to the customers that have purchased a particular product, the custom lists of the purchasers of that product come in handy.
- And you get to use them in attracting new audiences – keep reading to find out more.
And that’s not all. Options to use Custom Audiences are boundless.
How to Access an Existing Custom Audience?
*Audience* is the first in the list of your *Assets* in the Business Manager. Here’s how you can access your existing Custom Audiences.
It is a simple One-Step process.
Click on *Audience* in the assets. You’d find yourself looking at ALL the audiences you have created so far.
To view all your existing custom, lookalike, and saved audiences, just scroll down the list.
How to Create a Custom Audience?
1- If you want to create a new audience, click on the *Audiences* under the Assets.
2- On the left of the screen on the same page (you saw in *accessing custom audience* step), you’d see *Create Audience*. Click on that.
3- You’d see a drop-down menu of different audiences. Click on *Custom Audience*
4- You’d see a list of options you can create a custom audience from. The options are to create a list of your own resources or from Facebook’s resources. For each case, Facebook would guide you on how to go about creating the audience.
If you are a new Business Manager user, you will find yourself looking at this screen instead:
Click on *Create A Custom Audience*, and you’d find yourself on the same track as the previous step. And again, Facebook would take care of you whether you want to create a custom audience from your own resources, including:
- Customer List
- App Activity
- Offline Activity
Even, if you want Facebook’s resources to create the custom audience, Facebook is there to get it done with:
- Instagram business profile
- Lead form
- Instant Experience
- Facebook Page
All you have to do is to choose the custom audience type, and Facebook would guide you exactly what to do. Enter the details Facebook asks you for, and you are already there.
II- Lookalike Audience
What is a Lookalike Audience?
A lookalike audience is an audience that is like an existing audience of yours that has taken a specific step or has shown interest in your product or services.
Lookalikes are more likely to be interested in your products or services in that they have matching data points to your existing audiences who have shown interest in services/products.
Therefore, for creating a lookalike audience, you have to have a custom audience to create a new audience off of.
Why use a Lookalike Audience?
Custom Audiences can come in handy in several ways. For instance:
- You can use the lookalikes of the people who have added a product to the cart in the last 30 days. That way, you are likely to find people that Facebook considers an excellent match to take the same action (or more i.e., purchase).
- Lookalikes of the audience that have engaged with your Videos would be a vast audience to target for your video or engagement audience.
- You might want to create lookalikes of the existing customers for Facebook to find the people with matching attributes
How to Create a Lookalike Audience?
1- To create Lookalikes for the first time, click on *Audience* under the assets tab and click *Create a Lookalike Audience* on the next screen.
If this is not your first time, clicking on the audiences tab would lead you to the list of existing audiences (view the images from Create a Custom Audience Section). Click on the scroll down menu saying *Create audience* and click on *Lookalike audience*.
2- Select a source Custom audience you want to create the lookalikes of.
3- Ad a location you want to limit the audience too.
4- Choose the audience size from 1% to 10% – with 1% having the highest number of matching data points while 10% with the least matching points.
At this point, you can create multiple lookalikes with different percentages for each (and split test them with the same offer and creatives to compare the results). For that, click on the drop-down saying *1* and pick up to *6* for creating lookalikes from the same source.
III- Saved Audience
What are Saved Audiences?
The saved audience is when you create a new audience – using Facebook’s location, age, gender, interest, behaviors, and other targeting options.
Why use Saved Audience?
When you are a new business or new to Facebook advertising, you might not have any custom audience (and lookalikes) in the beginning.
In this case, you’d have to create a new audience based on your understanding of your audience. The only option you have is to create a Saved audience.
How to Create a Saved Audience?
1- To create a Saved Audience, click on the Audience Section under the Assets Section.
2- Click on *Create a Saved Audience*. You’d find a pop-up menu in front of you that demands some information.
3- Give your audience a unique name that is easily identifiable in a long list of audiences.
4- You can add a Custom audience to your Saved audience as a part of your Saved audience as well as to exclude from it.
To do that, create a new custom audience right from here or pick an existing one.
5- Add a location (or multiple) and pick the status of people concerning the location. Your options are people:
- living in or recently in this location
- recently in this location
- living in this location
- traveling in this location
You can also add locations in bulk.
6- Pick age, gender, and language/s based on your audience research.
Here is the best part.
7- Detailed targeting is where you decide to make good use of your precious dollars or to run them down the drain – quite literally (though other targeting options are no less important here).
That means you do not just randomly pick interests, demographics, and behavior but base your picks on your audience research.
8- Pick your connection type. Here are your options:
- People who like your page
- Friends of people who like your page
- Exclude people who like your page
- People who have used your app
- Friends of people who have used your app
- Exclude people who have used your app
- People who have responded to your event
- Exclude people who have already responded to your event
- Advanced Combination
9- Click on *Create Audience*.
Alternatively, you can create this audience while creating an ad (at the adset level) and save it right there for future usage.
What does Image Section in Assets deal with?
When you click on *Business Manager* tab on the extreme left, click on the *Images* on the second position under assets, you land in the Assets Library.
If you are an old player of business manager, your images library looks something like this:
You see, the library would keep all your uploaded, used, or unused images here – with the name you saved it with, image size, and the date of uploading the image.
The Asset Library has two more tabs – shops and videos.
And we’ll discuss them both at the right time.
How to upload New images in the Images Library?
When you are new (that the odds are, if you are reading this), you need to know how to upload new images.
While a direct way is to upload the image at the ad level during the campaign creation, there is another way too.
Upload the images here in the assets library.
Here’s how you do that:
1- Click on the *Images* in the assets. You’d land on this screen:
2- Click on *Upload Images* to see a pop-up asking you to upload the image.
3- Click on the *Select Image* and wait while the image is being uploaded.
As you see *Done* written on the pop-up, you’d see an image uploaded in the background.
Congratulations on uploading your first image.
Now, while you are creating an ad campaign, you can directly use this image ad the ad-level from the images library.
So, you have prepared for a campaign beforehand and do not need to panic at the time of creating the ad as to what images to use and where to get them from.
How to add a label to your image?
1- If you check an image, you’d see previously dead buttons coming to life. One of them says ad *Add Label*. Click.
2- Ad a label (or many) each time by clicking *Create a new business label* that appears each time to begin to write.
3- Hit *Save*.
How to delete an Image?
1- Check the box before the image you want to delete.
2- Click on *Delete Image* right next to the *Add Label* button.
3- Tell Facebook that you know what you are doing and the repercussions. That calls for hitting *Continue*. If you are not ready to let go off the image right now, hit *Cancel*.
Congratulations! You have successfully seen us delete the first image we uploaded for you.
What is a Catalogue?
Facebook defines a Catalogue as the inventory of your sales products, along with the pricing and other product information.
“A Facebook catalog is a container that holds information about your inventory, such as images, prices, descriptions, and more.”
How do you create a Catalogue in Business Manager?
To create a catalog for your business, here’s what you need to do.
1- Log in to the Business Manager and click on the business manager tab on the extreme left.
2- Click on * catalogs* under the *Assets* section – third place if you are wondering.
3- You’ll enter Catalogue Manager, where you’d be asked to pick your business type to proceed.
Your options are:
- hotels and holiday properties
- home listings
What this means is that either your business falls in one of these categories or you can not create the catalog. In the case of travel, you get to choose between 3 categories.
4- Next, you are asked to *configure your catalog settings*.
- Either you add your Product details or connect with your E-commerce platform (website, online store, etc.).
- Add your business (this might sound insane if you are doing the stuff for the first time and planning to handle your own business, only. But in the bigger perspective, when you are a marketing student planning to offer digital marketing services to multiple businesses, this would make complete sense).
- Give your catalog a relevant, relatable name.
- Hit *Create*.
You can always go to the previous page to change your category or cancel right here if you are not ready to create the catalog yet.
You can now view your catalog you just created (or all the other ones).
How to use catalogues?
Facebook recommends following uses of a catalog:
- Dynamic Ads
- Instagram Shopping
- Facebook Page Shop
- Ads to drive traffic
On the left column, there are options for you to:
- Diagnose and fix errors in your catalogs
- Ad more products
- View sources of your catalog
- Set up tracking
- Create ads to use catalogs in
- And handle all the other settings
4- Shop Locations
You might be running a chain of stores, restaurants, or any business that has multiple brick and mortar stores.
If that is you, or you know one or want to run ads for one such business, this is the place for you.
The shop location is the option you find under the assets section in the business manager tab.
Assuming you have a business page associated with the business manager already, you’d be looking at the following screen when clicking on *Shop Locations*:
1- To add multiple locations, you’d have to have one Facebook page that would be the online representative of your offline business. So, Facebook doesn’t want your business page to hold any location (and gives errors if you do). Give Facebook permission to remove the location and hit *Next*.
2- Now you are ready to start adding shops when you enter *Add Shops*.
3- Facebook asks you to add accurate information and start adding the stores. Hit *Add Stores* again.
4- Now, you have 3 options to pick from:
- Add the details of each shop manually
- Use a spreadsheet to extract the information of all the locations from automatically
- Connect to an existing page so Facebook can automatically extract all the information
Based on whatever option you pick, Facebook would take you from there on the journey of creating new shop locations in a short process.
And trust us, it is no brainer.
5- Brand Safety
In the brand’s safety overview, Facebook refers to community standards that every publisher is supposed to comply with.
With the brand safety tools that Facebook offers, you are offered more control over your ads.
Keep reading to find out.
Inventory filters offer you to choose the type of content that you want your ads to show along.
Blocklists permit you to block specific placements for your ads.
Publisher lists allow you to view the placements where your ads could appear – in a list form.
Publisher delivery reports are the reports of where your ads have been displayed in the last 30 days. The placements include Facebook in-stream videos, Instant Articles, and the Audience Network.
The video section in the assets Library is the same as the images section (scroll up to number 2 again for a quick re-peek).
Just to sum up:
- You can add videos here to use them while creating an advert.
Each video is displayed with:
- a video ID,
- name you saved it with with a video thumbnail,
- the views it has received in your ads,
- the total duration of the video
- and the date you added the video in the assets library (or directly to your ads) on.
And that is pretty much all from us for the ASSETS that Facebook Marketing offers with massive value.
What next? Your Turn!
So, when you know what the Business Manager Assets are capable of and valued at, get on your toes.
Make the best use of these assets to promote your business.
If you are stuck with the Marketing somewhere, book your FREE CONSULTATION with our experts now.
Are you ready to cash Facebook Assets? It is time to use the name of the platform for your business’s fame.
Up for further reading on Facebook Business Manager?
Here, we have a few useful resources:
Happy reading 🙂