Without personalized ads, Facebook data shows that the average small business advertiser stands to see a cut of over 60% in their sales for every dollar they spend. Many in the small business community have shared concerns about Apple’s forced software update, which will limit businesses’ ability to run personalized ads and reach their customers effectively.įorty-four percent of small to medium businesses started or increased their usage of personalized ads on social media during the pandemic, according to a new Deloitte study. More than 10 million businesses use our advertising tools each month to find new customers, hire employees and engage with their communities. We’re standing up to Apple for small businesses everywhereĪt Facebook, small business is at the core of our business. “Meta is just counting on advertisers to bend over and take it.”īreitbart News previously reported that Facebook attempted to portray itself as a hero helping small business during its war of words with Apple. But for the small business who don’t have an ear at Facebook, there aren’t a lot of options,” he said. “We shouldn’t have to take action when Facebook has a bug. Holt expressed concern for the tiny companies that depend on Facebook’s ad network and have slim profit margins. “All we get is a generic explanation that ‘we are aware of an issue.’ That’s better than nothing, but it’s not enough.” “Meta is extremely opaque, and it always has been,” Holt said. This caused faster campaign spending, resulting in more variable costs.”īarry Holt, a well-known advertising expert who has overseen Facebook ad campaigns for more than ten years, drew attention to Zuckerberg’s problems with transparency.
The company spokesperson explained that the problem “resulted in some miscalibration for advertising campaigns that were focused on optimizing for certain sales objectives. Without any improvement in ad performance or campaign exposure, entire advertising budgets have, in some instances, been depleted in a matter of hours. Many noticed a sharp increase in their charges that went beyond the caps imposed on their campaigns.
Despite the company’s promise to follow its “normal refund process,” little information has been provided about the root cause of the problem.Īdvertisers who were impacted by the bug have voiced their displeasure with Facebook and Zuckerberg’s silence. “A technical issue that has now been resolved caused ad delivery issues for some advertisers,” a Facebook spokesperson confirmed.
The problem occurred just days after Mark Zuckerberg started his third round of layoffs in six months.
This resulted in losses of between hundreds of dollars and hundreds of thousands of dollars. Some advertisers were charged more than double the amount agreed upon as a result of the bug, which primarily affected ad delivery on Facebook and, to a lesser extent, on Instagram. Mark Zuckerberg surrounded by guards ( Chip Somodevilla /Getty)
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