LONDON – Facebook is paying off some advertisers after campaigning one wrong after the other. Measures of potential effectiveness of their advertisements over the course of a year.
The company’s “conversion lift” equipment suffered a glitch, affecting thousands of advertisements between August 2019 and August 2020.
Facebook fixed the error in September and is now crediting customers as being “meaningfully affected” by the bug.
According to the explanation of the tool on Facebook’s website, the conversion lift helps brands understand how advertisements use “gold-standard methodology”, which connects ads on Facebook’s platform to commercial displays, including Instagram.
The free tool shows ads to different test and control groups and then compares the sales conversions for each. Then, based on the results of the study, an advertiser can decide how much to spend on social networks.
According to a report by the AdExchanger website, advertisers were alerted to the error only this month. Facebook was not immediately available to comment on the issue when contacted by CNBC on Thursday.
According to a Facebook spokesperson in an email to CNBC, “while improving our measurement products, we found a technical issue that affects some conversion lift tests.” “We have fixed it and are working with advertisers who have influenced studies.” A “small number” of advertisers were affected, and they would receive “outright loans” according to the company.
This is not the first time Facebook has admitted errors in reporting. In September 2016, it said people reduced the average amount of time they spent watching video ads over a two-year period, and a report in 2017 found that Facebook compared official population figures to some U.S. states and cities Claimed to reach more people. Regions.
Facebook is a major advertising platform, whose revenue comes largely from small advertisers. Its third quarter advertising revenue reached $ 21.2 billion, up 22% from the previous year, and it expects holiday demand to increase advertising revenue in the fourth quarter.