Coming out of last week’s news that some of Facebook’s video metrics had been overstated by up to 80% for 2 years, the Association of National Advertisers too on Facebook by recommending an outside audit & accreditation of the platform’s metrics & measurement practices.
Facebook has fully acknowledged the error and apologized. There were multiple Facebook execs discussing the error at Advertising Weeks in NYC last week.
ANA President and CEO Bob Liodice, wrote in a blog post, “While ANA recognizes that ‘mistakes do happen,’ we also recognize that Facebook has not yet achieved the level of measurement transparency that marketers need and require.”
Specifically, the ANA would like Facebook’s metrics to be vetted by the Media Rating Council–the industry watchdog that creates standards for advertisers to buy media against.
Facebook does have partnerships with a few outside measurement companies like MOAT, Nielsen, and comScore, but it is very much viewed as a black box by controlling most of its own data verification itself. Marketers currently have very little basis to question or challenge Facebook’s data.
More than $6 billion in paid media is funneled through Facebook by brands.