It’s been a strained couple of weeks for Snapchat’s parent company, Snap Inc. With investors expressing unconvinced undertones of the company’s $25bn Initial Public Offering target, the once hottest tech IPO of the year received a damning ‘sell’ verdict from six Wall Street analytical firms, with Snap’s share price bombing 12%. In our February Journal Editorial we talked about the anticipation surrounding the platform’s IPO and its future in the digital video space looking promising. But if Snap’s offering has shown us anything, it’s just how short-lived tech euphoria can be, and the perils of confusing popular with profitable. Watch out Nintendo Switch.
Speaking of profitable, it’s been a busy couple of weeks at Facebook too. With last year’s revenues comfortably sitting at $27.5bn and profits skyrocketing ten-fold over the last five years (Zuckerberg’s own stake is worth an eye-watering $55bn), the world’s fifth most valuable brand has been investing heavily in a range of new platform features.
Creeping behind the recruitment curtain
Are you tired of scrolling through Harry Potter memes and watching cats be jerks during your morning commute? Well now you can break up your rush hour rut by applying for jobs on Facebook. It may not be a wholehearted invasion of LinkedIn’s audience, Facebook is certainly creeping behind the recruitment curtain with this new feature.
Allowing employers to post available job openings on their company Facebook page, users can submit a pre-populated application form (details provided when setting up a Facebook account) and take advantage of the 1,000 character count limit to say why they’re the best fit for the role. While users can also search for jobs within a broad radius of location and industry, initial reviews of the service haven’t been great – with irrelevant listings and little promotion bang for your buck from leading concerns.
Advanced Measurement | Facebook comes out swinging
Amid pressure from marketers to improve the platform’s metrics, Facebook is in the final steps of dissolving its Atlas analytics platform - an ad tech firm bought from Microsoft in 2013 - into a new tool called Advanced Measurement. So, before you start scratching your head asking what this has to do with your business, let’s get one thing clear; this is a significant digital marketing shake-up.
Back in September 2016 Facebook came under intense scrutiny from brands and advertisers after revealing they had been overestimating the average amount of time that people spend viewing its videos by as much as 60 to 80% - over a three year period. Then just three months later, Facebook confessed that it had made another measurement error, this time affecting publishers using Instant Articles and undercounting traffic from iPhone users. Suffice to say, the entire digital marketing industry has been left questioning the reliability of Facebook’s data. But the social media giant has come out swinging. Partnering with European ad verification firm Meetrics, Facebook’s Advanced Measurement suite will allow advertisers new options to confirm the viewability and view duration of campaigns, offering cross-platform reach and attribution stats. By using consistent tracking across your online advertising, Advanced Measurement will create a more holistic picture of how a campaign’s reach and impact builds across Facebook and other web-based platforms.
According to Facebook, “The fragmentation of digital media has made it difficult for marketers to get a complete view of audiences across devices. Advanced Measurement will make it easier to compare the effectiveness of Facebook, Instagram and Audience Network alongside other publishers. Our goal is to help all businesses understand how their marketing drives value both on and off Facebook. To that end, we’re keeping accessibility and comparability top of mind as we build out advanced measurement solutions.” With the added benefit of using it’s own user login data, Facebook will be able to identify and target actual people instead of relying solely on cookies. For anyone trying to assess the impact of a campaign across multiple channels, Advanced Measurement really does offer a new level of clarity, we hope to the point where you can track which touch points drive real conversions and results. You can read the full ‘Expanding Measurement to more Advertisers’ release on the Facebook Newsroom.