Sci-Tech

Facebook distributes millions of dollars in loans to advertisers after serious errors

Facebook admitted that its Conversion Lift tool overestimated the return on investment on ads between August 2019 and August 2020. An issue that skewed the data advertisers used to determine how much to spend on their advertising campaigns. To correct his mistake, Mark Zuckerberg’s company distributed millions of dollars in loans to some of its advertisers, the Wall Street Journal reported. But is it really enough?

Thousands of affected advertisers

According to Facebook, the Conversion Lift tool will help you “understand the real value of your Facebook, Instagram, and Audience Network ads in driving sales and conversions.” At least if a calculation problem does not get into the middle between August 2019 and August 2020 like in a year.

In fact, during this period, the tool overestimated the results of the ads served on the social networks of the Facebook group. If Mark Zuckerberg has tried to fix its mistake by redistributing credit to some of its advertisers, this solution is nowhere near enough for Florian Adamski, global managing director of the Omnicpm Group’s holding company: “That is not the case.” as if it were over after paying a few thousand or millions of dollars. This mistake goes much further. We need to find a way to repair the damage done and make sure it doesn’t happen again. “

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It is understood that this measurement error had a huge impact on the marketing budgets of thousands of advertisers. Currently, however, Facebook does not allow how much they were affected or how it happened. Likewise, they ignore how the compensation amount was calculated by Mark Zuckerberg’s company.

Facebook, used to overestimate advertising data

Unfortunately, this new bug is not an isolated incident in Facebook’s history. For example, in 2018 a complaint was filed against the social network, which was then accused of inflating its advertisers’ video audience. To repair this damage, the company then agreed to pay compensation in the amount of 40 million dollars or 36.5 million euros. Previously, Facebook also admitted a measurement error in 2016 that affected instant items as well as errors in ad reach and the number of approvals and likes.

Keep in mind, however, that Mark Zuckerberg’s company isn’t the only one affected by bugs of this type. Recently, LinkedIn admitted that more than 418,000 advertisers were affected by ad measurement errors.

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