To give businesses more insight into a company’s measurement tools to calculate the impact of advertisements on its platforms, Facebook has introduced new labels on some of its metrics. “Starting today, we will begin labelling some metrics in ‘Ads Manager’ as estimated or in development, to provide more clarity on how they are calculated and how you should consider using them,” the company said in a blog late Thursday. Also Read - Google, Facebook make vaccination mandatory for employees returning to office
“These labels will appear in tool tips within the ‘Ads Manager’ reporting table and in the customise column selector for ads running across Facebook, Instagram and Audience Network,” the blog read. Facebook has been facing flak for not scrutinising the advertisements before they are being published on its platforms. Also Read - Instagram now lets you post 60 seconds Reels: How to post longer Reels
According to emarketer.com, Facebook earned a whopping $17.37 billion in digital ad revenue in the US in the third quarter of 2017 and is expected to reach $21.57 billion in 2018 and $25.56 billion in 2019. Recently, Facebook faced hefty fine after the city of Seattle, Washington, accused the social media giant of violating its political ad transparency law. Also Read - How to temporarily deactivate Instagram account: Follow these steps
Facebook is also removing some other metrics to help businesses focus on the more meaningful ones and would make it easier for advertisers to get the most actionable insights to improve ad performance. “In July, we will remove approximately 20 ad metrics that marketers have told us are redundant, outdated, not actionable or infrequently used,” the company said.
It would also roll out a new programme called “Measure What Matters” in March to educate marketers more broadly about measurement. The programme would offer two tracks — one for advertisers focused on brand objectives and one for advertisers with direct response objectives.