Facebook is dealing with a new controversy focused on their video consumption. It appears that Facebook has overestimated time viewed on video ads by as much as 80% over the past two years.
I have a hard time believing Facebook did not know about this earlier and it’s likely they provided confusing wording in order to keep momentum high on video ads. The competition in the video ad space is fierce, and any area where Google and Facebook are competing you know the numbers need to be really large to make a difference.
If I’m a local digital publisher, I would look hard at this and think about the best way to present your product to the local businesses in your area. We have said repeatedly that when your core customer is the consumer, it is exceptionally hard to offer products to business owners that are in their best interest. And this is doubly true with large tech platforms like Facebook and Google, where 1 million users is just a blip on the radar. These tech giants need to make decisions that move hundreds of millions of users to do something!
In a local community, measuring effectiveness of local marketing is key. For a small business, 10 new customers in a month is a game changer (and maybe even less) for many! When it comes to trust, the local publisher has everybody beat. Trust and targeted marketing are the two most valued attributes for local business owners when they decide where to spend their marketing dollars.
What does this mean? It means you should not worry or focus so much on large numbers. Instead, focus more on value. Can you deliver 10 new customers to a business in town? Can you offer them visibility into what locals are searching for in the community? If you can do just these two things, you’re doing more than Facebook, Google, Yelp or anybody can do in your community. And then you won’t have to answer why your video ads aren’t viewed as long as Facebooks. And actually, given this new info from Facebook, they probably are viewed longer!