For any company, the trust of the brands and business partners is very important. In the last few months, the trust level of the investors and business partners of Facebook has decreased. To have a broader approach to gaining back the trust, the company has decided to get itself audited by the Media Rating Council a.k.a. MRC.
The official statement
In an official statement, the company said that the move will basically help in verifying the claims they make about the accuracy of the information delivered to business partners and stakeholder. In the last few months, the company has faced accusations of being untruthful about the ad metric inaccuracies. The company came clean about the problems and considered it as a step taken to improve the system.
The most recent update provided by the company for the advertisers include a tool in the ad creation that shows the ad creators the number of users they can expect to gain with the potential ad campaign. This tool is dubbed as the estimated reach methodology.
A Facebook spokeswoman told the Social Media & Marketing Daily in the last month of 2016 that the new methodology makes it easier for the ad creator to estimate the reach with a less than 10% change which can be an increase or decrease in the size of the audience. This revolutionary tool helps the advertisers to manage budget according to the estimated value.
The recent issues
The spokeswoman admitted that the code of the website had some flaws which enabled the system to show extra reactions per user that happened during the live broadcast to the “Reaction from shares of post” section. These numbers were getting added to the “Reaction on post” section which showed false information. The problems with the count of the like and share buttons via its Graph API also has some issues, and the counts were not the actual number of likes or shares.
As soon as the company determined the issue, Facebook immediately took action and started rectifying the problem. The solution came in the form of the internal review process and Metrics FYI which was a blog in which the company promised to keep marketers abreast of ad measurement updates and changes.
The company has also partnered with Neilsen to include Facebook video and Live viewership in the calculations related to digital content ratings. From some time the industry leaders were asking for an independent audit for the same. The president and CEO of the Association of National Advertisers, Bob Liodice, also said a lot in media about the issue.
Facebook now has 24 third-party measurement partners which are working with the company to audit different aspects of the stats.