The changes that Apple made to iOS really did a number on Meta, and the social media company is still reeling as it struggles to adjust months later. The company’s stock price took an incredibly massive hit last month, and financial experts both within the company and outside of it calculate that they will miss out on around $10 billion in revenue this year due to the lack of users that are opting in for third party tracking and the like.
One really major impact of this that many advertisers noted was that their web conversions from Meta ads were getting underreported. This is something that Meta itself admitted to in September, and 5 months later the company has revealed that it has cut these underreported conversions in half. In September, around 15% of web conversions went unreported which might have resulted in marketers noticing extremely low conversion rates during that point in time. The underreporting is now at around 8% which is progress but it’s still a fairly large chunk of conversions that ad managers won’t know about.
With all of that having been said and now out of the way, it is important to note that Meta has attributed this glitch to a bug in the system which has now been fixed according to them. The company has also outlined a few ways in which advertisers can improve their conversion rates, highlighting three features that advertisers can end up using in this regard.
The first feature is Detailed Targeting Expansion which can help reduce conversion costs by automatically implementing the targeting that the brand is looking for. Automatic Placements is another feature that can make it so that your ad would have multiple placements throughout the platform which would obviously end up improving its visibility by a pretty high amount. Automated App Ads can also reduce costs for installs, but all of these features might just be a bandaid that would fail to fix the problem at hand. It’s clear that Meta has its work cut out for it if it wants to return to its glory days to any extent whatsoever.
Read next: Tech Giant Meta is facing another lawsuit over its already abandoned Facebook feature with the Texas government
One really major impact of this that many advertisers noted was that their web conversions from Meta ads were getting underreported. This is something that Meta itself admitted to in September, and 5 months later the company has revealed that it has cut these underreported conversions in half. In September, around 15% of web conversions went unreported which might have resulted in marketers noticing extremely low conversion rates during that point in time. The underreporting is now at around 8% which is progress but it’s still a fairly large chunk of conversions that ad managers won’t know about.
With all of that having been said and now out of the way, it is important to note that Meta has attributed this glitch to a bug in the system which has now been fixed according to them. The company has also outlined a few ways in which advertisers can improve their conversion rates, highlighting three features that advertisers can end up using in this regard.
The first feature is Detailed Targeting Expansion which can help reduce conversion costs by automatically implementing the targeting that the brand is looking for. Automatic Placements is another feature that can make it so that your ad would have multiple placements throughout the platform which would obviously end up improving its visibility by a pretty high amount. Automated App Ads can also reduce costs for installs, but all of these features might just be a bandaid that would fail to fix the problem at hand. It’s clear that Meta has its work cut out for it if it wants to return to its glory days to any extent whatsoever.
Read next: Tech Giant Meta is facing another lawsuit over its already abandoned Facebook feature with the Texas government