Facebook apologizes for latest metrics errorsBy Gladys Abbott Nov 18, 2016
It also overstated how many users were interacting with businesses' Facebook Pages, as the result of a bug that has been live since May.
So, what's new on Facebook's ad service? Most profiles will see a drop in followers of less than 5 per cent, the company said.
While Facebook adamantly opposed the assertions that it is violating the law, it seemingly conceded the fact that it needs to improve how it measures marketing capabilities. By excluding those video views with an average time of less than 3 seconds, Facebook had overestimated average time spent watching videos by 60% to 80%.
"Third-party verification does not unlock all the information, which I believe and others believe is important to advertisers' decision-making", said Rob Norman, GroupM's chief digital officer.
Martin Sorrell, the chief executive of WPP, the world's biggest advertising group, said that the latest revelations were clear proof that marketers have been right to call for more independent oversight of Facebook metrics. This is something Facebook is now considering, said Ms. Everson. Nestle, said Everson, is one of the clients who will join the new council.
The changes and the metrics misses will have little to no effect on Facebook's billing, ad rates or business standing, according to an investor response from Peter Stabler, senior internet and ad equity analyst for Wells Fargo.
Facebook wants to give the industry and its partners more confidence into the company's metrics and data reporting methods.
Twitter adds new options to curb abuse, harassment
Twitter already allows you to mute accounts, which prevents you from seeing their tweets in both the timeline and notifications. Furthermore, it has adopted its policies to better define the unacceptable discrimination which can be flagged up by users.
And the network has found multiple other miscalculations in the review process.
This week Facebook told marketers that it found more glitches in its data reporting on their pages.
Instead of showing how many unique visitors were looking at the page, the number showed a sum of all views, including repeat visitors.
The blog will also be the place to communicate or clarify any metric-related news.
Total number of followers for profiles that created interest lists was overstated by 5%.
Two years ago, industry stakeholders hardly even discussed viewability and measurement concerns, Knoll said. The FYI Blog is already up within Facebook's Newsroom, and the first post depicts in detail the new changes coming to the site. "We sincerely apologize for the issues this has created for our clients", he wrote.
The unveiling of the additional errors may trouble some advertisers and web publishers that rely on Facebook for distribution and monetization. Without that, said Folkmann, "It's a bit like marking your own homework". This is a critical move, as advertising is Facebook's main revenue stream by a significant margin. "This is just more of the same, but compounded with the fake news problem, it makes advertisers question Facebook and just generally makes the environment less appealing". Part of this shift, includes the formation of a Measurement Council and increased third party verification such as Moat and Comscore, both of which have worked with the social network in the past.
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Nov 18, 2016