Facebook’s share price at time of writing stands at US$73.06, a 92% increase from its initial float price. As a result of becoming public, Facebook has faced pressure to better monetise its services and improve company value for shareholders. Part of their strategy is in providing tools for branded presences to facilitate and encourage paid promotion (as advertising contributes significantly to Facebook’s revenue), and one key way Facebook plans to do this is through their Business Manager.
The recently rolled out tool formalises and improves how agencies and enterprise users can manage Pages, apps, and advertising accounts. We go through some of the key advantages in detail below.
1. Separate workspace
Unlike conventional Page management window, the Business Manager moves all actions into a separate space, without the notifications, messages and options seen during the existing personal profile mode. This allows managers to clearly distinguish between the two more easily, and remove any distractions irrelevant to Page management.
2. Shift from personal profiles to ‘professional’
In addition to the separate workplace, Business Manager allows users to be added into admin roles via a work or organisational email. Users can now maintain a professional online identity to manage the Page, rather than linking to personal Facebook profiles. This is useful in separating identities and protecting Page manager privacy.
3. Collectively manage multiple assets
The Business Manager allows the in-house users to collectively view and work on all Pages, apps and ad accounts, making for easier and faster management. It also allows users to see and manage all the associated admins, and campaigns, all in the one workspace.
4. External partner integration
Now Page managers can grant third parties access to Pages, advertising account, and apps. This facilitates the integration with agencies or Preferred Marketing Developers (PMDs), and allows greater Page control through the differing levels of permissions and access available.
5. More specific roles and task assignments
There are ten role levels that can be assigned to users. These range from full access to viewing insights only. This tailored approach to management allows for Page management transparency without the risk of unauthorised or inappropriate modification.
6. Easier advertising management
Integration of the Power Editor into the Business Manager workspace streamlines the advertising process, and facilitates the creation of more complex and targeted campaigns. The tool also allows for more than one personal advertising account per user.
In all, the Business Manager is clearly targeted at the larger, enterprise Page managers, and the marketing and advertising agencies that manage Pages on a client’s behalf. There are many significant benefits to shifting to the Business Manager, particularly in the collective asset management, streamlined processes, and reduced risk via increased control and separation from personal profiles.
Of course, with the improved efficiency for managing advertising, comes Facebook’s hope that enterprise users will be spending more on campaigns. Time will tell how significant this tool will be in increasing Facebook’s value as a result.