Facebook recently shared that they’re feeling the previously-anticipated impacts of iOS updates – with likely 15% underreporting of iOS web conversions. Due to the changes made by Apple in order to prioritize consumer privacy, Facebook – and many other companies – are obligated to provide choice in how consumers are tracked, and therefore how their information is made available for ad targeting and reporting.
Impact on Media
Facebook has long been a major component of many digital media plans. The breadth and depth of targeting, the ability to learn about creative, messaging and targeting engagement and impact, plus the opportunity to optimize and invest in line with business needs has made it a practical and powerful tool for businesses of all sizes. However, with these changes to support greater consumer privacy, there has also been an impact on the ability to maintain the same scale of success on the Facebook Platform.
- Drop in Conversions: Because consumers are able to be more selective about what information is shared, there are less conversions being attributed to Facebook than in many previous campaigns. This could be identified as underreporting, as well as varied attribution to other partners as part of a media plan.
- Limited Data & Learnings: With less tracking ability come fewer data points to understand audiences, conversion trends and optimization considerations.
- Rising Cost of Facebook Media: It should be expected that the cost of advertising on Facebook will increase as the company plans to offset the impact of underreporting by charging higher rates and increasing the ad loads on the platform.
With iOS changes continuously rolling out, as well as the impending deprecation of 3rd party cookies, it is more important than ever to future-proof your media approach. A few considerations to continue pushing as part of your future media strategy and planning include:
- Prioritize your own 1st party data set. With owned data comes the power and opportunity to target known individuals – identifying your audience, and those who most likely represent a converting audience for your business will drive media and business success.
- Ensure you’re taking a holistic approach to media planning. While Facebook has – and will continue to be a powerful tool – it cannot stand alone in supporting your media efforts. Creating a holistic strategy and approach to execution enables marketers to optimize based on business goals, rather than relying on what is available within a given platform.
- Collaborate with your agency team to ensure Facebook-specific enhancements are being considered. Facebook is actively providing recommendations to mitigate the impact of these changes, and your agency team should be equipped to contextualize which approach makes the most sense for your business.
Want to learn how Ansira can help you adjust your paid social media strategy and activation plans? Contact us today.