European regulators have questions about a Facebook data breach, Clubhouse adds payments and a robotics company has SPAC plans. This is your Daily Crunch for April 6, 2021.
The big story: Facebook faces questions over data breach
A data breach involving personal data (such as email addresses and phone numbers) of more than 500 million Facebook accounts came to light over the weekend thanks to a story in Business Insider. Although Facebook said the breach was related to a vulnerability that was “found and fixed” in August 2019, the Irish Data Protection Commission — Facebook’s lead data regulator in the European Union — suggested that it’s seeking the “full facts” in the matter.
“The newly published dataset seems to comprise the original 2018 (pre-GDPR) dataset and combined with additional records, which may be from a later period,” said deputy commissioner Graham Doyle in a statement. “A significant number of the users are EU users. Much of the data appears to been data scraped some time ago from Facebook public profiles.”
In addition, it looks like EU regulators may also look into Facebook’s acquisition of customer service company Kustomer.
The tech giants
Apple launches an app for testing devices that work with ‘Find My’ — Find My Certification Asst. is designed for use by Made for iPhone Licensees who need to test their accessories’ interoperability with Apple’s Find My network.
Google Cloud joins the FinOps Foundation — The FinOps Foundation is a relatively new open-source foundation that aims to bring together companies in the “cloud financial management” space to establish best practices and standards.
Facebook confirms ‘test’ of Venmo-like QR codes for person-to-person payments in US — The feature will allow a user to scan a friend’s code with their smartphone’s camera to send or request money.
Startups, funding and venture capital
Clubhouse launches payments so creators can make money — It’s like a virtual tip jar, or a Clubhouse-branded version of Venmo.
Robotic exoskeleton maker Sarcos announces SPAC plans — The deal could potentially value the robotic exoskeleton maker and blank check company at a combined $1.3 billion.
Hipmunk’s founders launch Flight Penguin to bring back Hipmunk-style flight search — I’ve missed Hipmunk.
Advice and analysis from Extra Crunch
Giving EV batteries a second life for sustainability and profit — Automakers and startups are eying ways to reuse batteries before they’re sent for recycling.
Will Topps’ SPAC-led debut expand the bustling NFT market? — Topps and its products are popular with the same set of folks who are very excited about creating rare digital items on particular blockchains.
LG’s exit from the smartphone market comes as no surprise — Why didn’t it happen sooner?
(Extra Crunch is our membership program, which helps founders and startup teams get ahead. You can sign up here.)
GM to build an electric Chevrolet Silverado pickup truck with more than 400 miles of range — GM is positioning the full-sized pickup for both consumer and commercial markets.
Putting Belfast on the TechCrunch map — TechCrunch’s European Cities Survey 2021 — This is the follow-up to the huge survey of investors we’ve done over the last six or more months, largely in capital cities.
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.
5 Effective Ways to Run Facebook Ads A/B Tests
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.
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.
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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