Facebook’s advertising partners have begun receiving the social network’s guide to purchasing premium ads using its power editor, which the company announced in May that it would introduce.

Premium ads were first reported on in February and officially introduced at the Facebook Marketing Conference in New York Feb. 29.

This doesn’t mean that just anyone can start purchasing premium ads, however: The service is still limited to Facebook application-programming interface partners who apply to get “white-listed” and complete premium training.

According to Facebook’s guide, embedded below, once advertising partners are enabled for premium ads, they will see a (P) next to their account, and premium (multi-objective) will appear as an option.

Advertisers can then select a daily or lifetime budget for their campaigns, with no minimum buy sizes required, and then choose the countries they want to target. Once that information is input, Facebook’s power editor will calculate the maximum number of impressions available at that budget and at that rate. Changing the impressions total will change the budget.

Once the campaign is created, creating the ad itself is similar to the process for a marketplace ad, and advertisers can then choose between right-hand column only, news feed only, or both.

Here are some more key points from a Q&A document Facebook provided to its ads API partners:

  • The ads will be bought on a cost-per-impression (CPM) basis, and not via auction. The CPM will not be affected by budget size.
  • Facebook will not guarantee the delivery of a certain amount of impressions, meaning that clients might not always be able to spend their full budget.
  • All current premium ad and sponsored story types will be available.
  • There is no difference between newsfeed ads bought by premium or marketplace.
  • Clients buying premium in self-serve can use all of the targeting functionalities available currently in marketplace.
  • All reporting available in marketplace will be available for premium ads bought on self-serve. Premium reports currently only available on IO will not be available.
  • Facebook is working on a dashboard for sales to see on an account-by-account basis spending between premium and marketplace.
  • Facebook Exchange only allows demand-side platforms to bid on standard marketplace ads, not premium ads
  • All premium ads available through self-serve will be required to go through ad review.

Guide- Premium Inventory Available via Self-Serve in Power Editor Copy