Do you want to read a scary statistic? Recently, the Wall Street Journal reported that Facebook’s counting method overestimated the average time spent watching videos by between 60 and 80 percent. Moreover, the social network miscalculated this key metric for two years. While Facebook did claim to introduce a new metric to provide a solution, marketers and ad buyers were understandably upset.
Consequently, the 2017 Media2020 report by Media Sense discovered that 70 percent of senior marketers believe that media measurements are becoming “increasingly corrupted” and that audience data from online sources is becoming less than reliable. Ultimately, this paranoia is because of the big digital players, such as Google and Facebook, having way too much power and control. The obvious solution is independent data verification.
Because of miscalculated data, many marketers may likely be misjudging the performance of their paid advertising across multiple platforms. The mistrust is not only with Facebook, but also Google, Twitter, YouTube, and others, Even television and on-demand services may have the potential for corrupted marketing metrics data. Facebook’s miscounting of video watching has ignited worries from both media companies and advertisers about the closed ecosystems and limited access to data that companies like Facebook and Google operate under.
Sequentially, marketers are losing sleep and patience with the large digital and media channels and their issues with advertising measurements. The Media2020 report also revealed that marketers are aggravated with the slow pace of platform improvements, and that there is outright mistrust of measurement currencies. This has made the issue of greater transparency a major concern and push.
Most people understand that errors happen. Nevertheless, it was the failure of anyone at Facebook to actually identify that there was an error for two years which contributes to the idea of needing strict external validation. It is important for marketers to demand accuracy. Inflated performance numbers are simply unacceptable.
What haven’t we covered yet that is important to you? If you would like to talk about if you can trust marketing metrics data, or a related topic, please contact us.
Technology Consultant at MOTIONBORG
With a natural passion for technology, he is always on the search for next great invention to test out and play with. Enjoys sharing his thoughts and knowledge with others through blogging. Helping business owners on how to better utilize technology to their advantage has become the true meaning of success and life.
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