Facebook has provided some new insights into its evolving approach to Marketing Mix Modelling, which, eventually, could provide more opportunity for marketers to better target specific audiences with the right content mix, and adjust automatically, based on consumer trends, in order to maximize ad performance across its networks.
As explained by Facebook:
“Marketing Mix Modeling (MMM) is a data-driven statistical technique which can help marketers quantify the impact of marketing and non-marketing activities on sales. MMM is privacy-friendly and uses scientific methodology to analyze multiple factors and evaluate how they impact the sales. However, it also has some limitations, for example, it is time-consuming for data collection, resource intensive, long lead time for analysis and these make it difficult for MMM to scale and execute.”
The privacy-friendly element is key here, because with Apple recently implementing its new ATT data tracking prompts in iOS, and other platforms looking to provide more transparency on data collection, Facebook may soon have a lot less user data to work with, which will force marketers to look in new directions.
Which is where marketing mix modeling could help – as Facebook notes, it’s worked with analytics solution provider Analytic Edge to establish a new, repeatable MMM framework, which, ideally, will eventually help advertisers accelerate their process, without requiring the full set-up workload of a regular MMM approach.
Facebook has outlined this new process in a summary document, which explains how it was able to apply this system to a recent campaign by ASUS.
The researchers first outline the MMM process, and the benefits they’re seeking through this enhanced model.
Because of the varying factors, MMM is difficult to implement effectively, especially for smaller, less-resourced businesses, and even more so when considering speed of response in optimizing ad performance. But this new process looks to address these key concerns, and provide an established framework for the system.
It’s a fairly complex outline, but the bottom line is that Facebook is working towards creating new, updated, automated processes that will incorporate all of these new elements into a far easier to apply system.
“Further innovations are underway that will make MMM on SaaS platforms simpler, automated and AI-driven. This will enable widespread adoption of MMM for both large and small companies, who couldn’t access MMM before or couldn’t scale MMM across their whole business.”
That could provide a new pathway forward for better ad targeting, without the need for the same levels of personal data insight that Facebook has applied in the past.
It’s an interesting experiment, and one that will still take some time to develop, but eventually, it could mean that you have more response options for your advertising approaches, which could help to maximize ad performance, even with less user data available.
And as noted, that could become even more important over time, as more people opt-out of data tracking as a result of the new Apple prompts, and potentially, similar restrictions that could be launched on Android as well.
You can read the full overview white paper here.
How to prepare your Facebook account for your digital afterlife
Today, our online lives are where we share a lot of private and personal information, especially on social media platforms where we share many of our thoughts, post photos and videos over the time we have spent online. Among these social media platforms, Facebook is the most used social media service today. A lot of us, our friends and our family members have a Facebook account. We post and share everything from our private photos to a personal message via Facebook.
But have you wondered what happens to your Facebook account and the information (like posts, comments, photos, videos, etc.) that you have created and accumulated on the service after your time?
■ What will happen to my account?
■ Who can access your profiles?
■ Who will own your account and data?
■ How to manage it when such a time comes?
Facebook has added features to your account so that you can decide what happens to your account when such a time arises. Follow the steps given below to set it up and ensure that the information in your Facebook accounts is handed over to someone else safely or managed according to your choice.
Setting up Facebook’s legacy contact:
In the case of Facebook, you can choose to memorialise your account and hand over the control to a ‘Legacy contact’ of your choice or altogether delete your profile after your time.
Step 1: To set up your legacy contact, you can visit the ‘Settings & privacy’ option under your profile and select the ‘Memorialisation settings’ under ‘General Account settings’. You can also sign in to your account and visit https://www.facebook.com/settings to access this setting.
Step 2: Now, you can choose a legacy contact in this setting by searching for and adding a friend from your account as your legacy contact. Do note that, once memorialised, the legacy contact can only moderate the posts on your page and not post on your behalf.
Step 3: The following setting is to choose whether to allow your legacy contact to download all your data that you have created or shared on your Facebook account like posts, photos, videos etc.
Step 4: The final setting on this page could be considered an alternative to choosing a legacy contact. This setting is to delete your complete Facebook account once you pass away. Facebook needs to be informed about your death and requires verifying it with valid documentation to activate this feature. The company will delete all your information on Facebook on completion of this process.
To know more about these settings, you can visit the FAQ page on legacy contact.
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Big EU lawsuit against Facebook morphs into 3-year ‘partnership’ with complainants
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Three years ago, a group of EU consumer agencies launched a multi-country lawsuit against Facebook, accusing the social media giant of having illegally harvested the data of millions of users.
More than 300,000 angry Facebook users positioned themselves behind the collective action suit, which promised to award them individual monetary damages if the company was found guilty of wrongdoing.
On Friday, those lawsuits quietly morphed into a brand new partnership with Facebook.
Euroconsumers, the umbrella organization behind the Spanish, Italian, Belgian and Portuguese lawsuits, announced they were entering a partnership with the company focused on the “safety and privacy” of Facebook users.
The move comes after POLITICO reported that Euroconsumers had settled its lawsuit with Facebook at the end of April — and highlights the fact that collective action lawsuits rarely make it over the finish line in Europe, sheltering companies from the type of action that can produce crippling damages in U.S. courts while leaving consumers with little recourse.
Originally, Euroconsumers had told people who joined the case it would seek compensation of €200 for every Facebook user whose data was mishandled.
In the end, though, there will be no court decision, no admission of wrongdoing by Facebook and no direct payment from the company to consumers as a result of the settlement, according to Euroconsumers.
Instead, the consumer groups and Facebook said they were forming a joint committee focused on three priorities: sustainability, digital empowerment and fighting scams. The issue of privacy — which was the explicit focus of the lawsuit — is the “umbrella” under which the thee priorities fall.
As for the consumers, they are being promised a vague consolation prize.
The four consumer groups said they would commit to “reward” consumers who joined the original lawsuit with “a package to help consumers be safe online” — but no hard cash.
Asked whether Facebook had paid money to Euroconsumers in the settlement, the group declined to comment. POLITICO reached out to Facebook, but the company didn’t give an immediate response apart from the press release.
Meanwhile, the committee isn’t committed to producing any specific results.
“There are specific initiatives in the making, but there will also be a consumer reporting channel. We will able to report problems that emerge, like feedback from our members,” said Els Bruggeman, head of policy at Euroconsumers.
A spokesperson for the group said: “It’s the moment to try to influence the reasoning from companies who are managed far away.”
Legally speaking, though, the heat is off Facebook.
The consumer groups will evaluate their collaboration in three years.
“An agreement for one year would be too short. Three years is long enough to be able to evaluate. There will be a lot of changes in the digital world in that period,” added the spokesperson.
In the meantime, a change in legislation may give future collective action lawsuits in Europe more teeth: A directive finalized late last year could lead to bigger pan-European collective redress cases.
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Russian watchdog demands that Facebook delete post insulting WWII veterans
MOSCOW, May 29. /TASS/. Russia’s Federal Service for Supervision of Communications, Information Technology, and Mass Media (Roskomnadzor) demanded that US company Facebook delete an Instagram post that insults the memory of World War II veterans, the watchdog said on its website on Friday.
“Roskomnadzor has sent a letter to Facebook Inc top management, demanding that content insulting the memory of World War II veterans be deleted,” the watchdog said. “The governmental agency found the unlawful post on the Instagram social network, owned by Facebook.”
According to Roskomnadzor, publication of clearly offensive information that insults Russia’s military glory and memorable dates, or desecrates military glory symbols, or offends WWII veterans constitutes a criminal offense in Russia and is subject to criminal proscution.