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Daily Crunch: Zuckerberg defends Facebook over role in Capitol attack

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Daily Crunch: Zuckerberg defends Facebook over role in Capitol attack

Tech executives face Congress, Spotify gets a redesign and Snapchat is developing a new Remix feature. This is your Daily Crunch for March 25, 2021.

The big story: Zuckerberg defends Facebook over role in Capitol attack

Facebook’s Mark Zuckerberg, Twitter’s Jack Dorsey and Google’s Sundar Pichai appeared at a hearing today with the House Energy and Commerce Committee on the theme of misinformation, particularly the role that their platforms may have played in the Capitol attack by allowing lies and extremism to spread.

In his opening statement, Zuckerberg advocated for reforms to Section 230 and said that Facebook “did our part” to protect last year’s presidential election, putting the blame for the Capitol riots squarely on former President Donald Trump.

Pressed by Rep. Mike Doyle (D-PA) on whether Facebook bears some responsibility, Zuckerberg replied, “I think the responsibility lies with the people who took the actions to break the law and do the insurrection. Secondarily, also with the people who spread that content, including the president but others as well, with repeated rhetoric over time, saying that the election was rigged and encouraging people to organize, I think that those people bear the primary responsibility as well.”

The tech giants

Spotify rolls out redesigned desktop and web apps — Overall, the update gives the Spotify app a more streamlined, less cluttered look and feel.

Snapchat is developing its own take on TikTok Duets with a new ‘Remix’ feature — This feature will allow users to create new content using their friends’ Snaps.

Startups, funding and venture capital

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PPRO extends latest round to $270M, adding JPMorgan and Eldridge to grow its localized payments platform — PPRO’s core product is a set of APIs that e-commerce companies can integrate into their check-outs to accept payments in whatever local methods and currencies consumers prefer.

Notarize raises $130M, tripling valuation on the back of 600% YoY revenue growth — When the world shifted toward virtual a year ago, one service in particular saw heated demand: remote online notarization.

Everlywell acquires two healthcare companies and forms parent Everly Health — The new parent entity will now offer services including at-home lab testing kits and education, population-scale testing through a U.S.-wide clinician network, telehealth and a payer-supported/enterprise self-collected lab test.

Advice and analysis from Extra Crunch

Automakers, suppliers and startups see growing market for in-vehicle AR/VR applications — A new battle for market share is emerging inside vehicles.

How VC and private equity funds can launch portfolio-acceleration platforms — Almost every private equity and venture capital investor now advertises that they have a platform to support their portfolio companies.

Will fading YOLO sentiment impact Robinhood, Coinbase and other trading platforms? — What happens to hot fintech startups that have benefited from a rise in consumer trading activity if regular folks lose interest in financial wagers?

(Extra Crunch is our membership program, which helps founders and startup teams get ahead. You can sign up here.)

Everything else

FatFace tells customers to keep its data breach ‘strictly private’ — Clothing giant FatFace had a data breach, but it doesn’t want you to tell anyone about it.

See also  Facebook Announces Social Audio that Goes Beyond Clubhouse

EV makers oppose delay to automotive emissions penalty increase — Electric vehicle manufacturers are pushing back against a decision to delay penalty increases for automakers who fail to meet fuel efficiency standards.

New York moves to legalize recreational marijuana — New York State officials struck a deal with Gov. Andrew Cuomo to allow recreational use of cannabis.

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 3pm Pacific, you can subscribe here.

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5 Effective Ways to Run Facebook Ads A/B Tests

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Facebook Ads A/B Tests or split tests help them try different versions of ads with various campaign elements. This process helps them arrive at the best version for the organization’s target. 

A/B Tests offer a vast pool of resources to try out various versions. You may get caught up and lose your way to arriving at the best version in a limited time. To better understand this topic you can read the Facebook ad testing guide. Here are five effective ways to run Facebook Ads A/B Tests-

1) Start with the minimal number of variables

This approach will help you analyze the impact of a variable much better. The lesser the variables, the better will be the relevant results and more conclusive. Once you have various versions, you will need to run them through the A/B Significance Test to determine if the test results are valid.

2) The second way is to select the correct structure. 

There are two structures in A/B tests. One is a single ad test, and the other is multiple single variation ad sets. All the variations will go under one ad set in the first structure. Each variation will be under a separate ad set in the second one. Out of the two, the second one works out to be better and gives better results.

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3) Use of spreadsheets is important to stay organized. 

These spreadsheets help collect and analyze data to get meaningful insights and arrive at data-backed decisions.

4) Do target advertising and set realistic time goals. 

One approach is to choose an entirely new set of audiences. Also, the data pool should be vast and not the same as some existing campaigns. The reason for choosing a different audience is that Facebook may mix up your ads and give contaminated output. 

Another approach to choosing the right audience is to pick geography. It works better, especially when you have business in a particular region.   

It’s also essential to set a realistic timeline for your testing. Facebook suggests one should run a test for at least four days, but you can choose to run the test for up to 30 days.   

5) Set an ideal budget. 

The concept of a perfect budget is subjective. But, you can fix it yourself, or Facebook can do that for you based on your testing data. A large part of the test budget is spent on avoiding audience duplication. If the same audience sees variations, it could affect the test results.

Besides these top five effective ideas, you will need to take a few more action points to make the testing process efficient. Make sure you put the website’s domain link and not the landing page link in the ad, as that doesn’t look good. Put appropriate Call To Action Button, such as ‘Learn More,’ ‘Buy Now,’ etc. It’s also important to see how your ad is coming across on various electronic gadgets- mobile, tablets, etc.

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Another strategy that works is trying to engage the customer. You may add social engagement buttons such as ‘Like’ or ‘Comment.’ Use high-resolution images as they work better with the customers. Low-quality, highly edited images are often not liked and trusted by the consumers.

You can learn more about the audience behavior patterns with A/B test results. Conducting these tests on Facebook streamlines the entire process and makes it smooth for you. With the test results, advertisers and marketers can work on the creatives they need to utilize.

To sum it up, you can run an effective A/B test campaign within the specified budget. You don’t need to spend massive amounts to get your advertisement right. You’ll make the correct assumptions about the performance of variations with a good understanding of business and consumers.

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