Importance of ad measurement for Facebook
Facebook has a complex way of measurement. Calculations on the amount of time user’s spending on the platform to watch videos, measuring a page’s audience and an amount of time users spending to read Instant Articles have often been wrong. Often, Facebook page owners see a in their 28-day reach by an average of 55% due to the platform counting double counting daily visitors. Even the Instant Article publishers have been witnessing a rise of 7-8% in a number of time users are spending to read their articles, instead of the accurate time.
This error in the measurement of Facebook is bad for the platform as well as its potential ad buyers. Facebook has nearly 4 million advertisers and this wrong measurement could lead them to make misinformed business decisions, which involves a large amount of money. Though Facebook’s size and reach is immense, if the data cannot be trusted, they would not invest further in it.
In over 4 million Facebook business activity, around 55milion are small businesses that are using the platform to convert their visitors into consumers. These small businesses have limited ad budgets which make them rely mostly on Facebook’s measurement to track the effectiveness of their advertisements. With wrong Facebook measurements, these businesses would not be able to trust the platform anymore.
This could make the small business more to other alternative platforms such as Google or other social media channels. Although Facebook offers a wide array of potential customers, moving away from the platform, and diversifying to other advertising platforms is not that difficult.
While Facebook is considering third party measurement tools, most of these are inaccessible for small business with restricted budgets.
Facebook’s management has been forthcoming in understanding the issue of wringing measurement and its effect on the brand’s trustworthiness. Facebook’s vice president of global marketing solution, Carolyn Everson has said that the company is striving to be known as a listening organization. They are trying to learn every single day and improve their services for the clients.
Facebook’s top priority is to get its business clients the most of its advertising budgets. Improvement in the value of ads will lead to higher ad prices which in turn would lead to Facebook’s increased revenue. This makes it essential for the platform to correct their measurement metrics.
Facebook has 4 million people actively using the platform every day, thanks to its reach. However, average users are spending around 50minutes of their time daily on Facebook, Twitter, Instagram, and Messenger. The only company that can seem to rival Facebook is Google. Google too, offers a wide spectrum of engaged audience through its web services, search engine YouTube as well as an ad network. However, Facebook's size and engagement often makes it difficult for businesses to leave the platform. Therefore, focussing on the client’s essential point and working with the advertisers is the best way for Facebook to repair the damage of measurement it has caused.