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Daily Crunch: Facebook organizes a virtual graduation ceremony

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Graduation goes virtual, more details emerge about the U.K.’s contact tracing app and Shopify launches a mobile commerce app.

Here’s your Daily Crunch for April 28, 2020.

1. Facebook will stream a virtual graduation ceremony featuring Oprah and Miley Cyrus

Here’s some consolation for the Class of 2020: a virtual graduation ceremony, which kicks off at 11AM PT/2PM ET on May 15 via the Facebook Watch App. Oprah Winfrey will be giving the commencement address, while Awkwafina, Jennifer Garner, Lil Nas X and Simone Biles will all be giving speeches. And Miley Cyrus is set to perform.

Other sites are holding similar events — and many schools are also planning their own, less star-studded events to celebrate graduations remotely.

2. UK’s coronavirus contact tracing app could ask users to share location data

More details have emerged about a coronavirus contact tracing app being developed by U.K. authorities. NHSX CEO Matthew Gould said today that future versions of the app could ask users to share location data to help authorities learn more about how the virus propagates.

3. Shopify launches Shop, a new mobile app

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The app is actually an update and rebrand of Arrive, an app for tracking packages from Shopify merchants and other retailers — in addition to package tracking, Shop allows consumers to browse a feed of recommended products, learn more about each brand and make purchases using the one-click Shop Pay checkout process.

4. Okta hires ex-Symantec executive as new chief security officer

David Bradbury, a security veteran with more than two-decades of security experience and recently served as chief security officer at Symantec, takes over from Yassir Abousselham, who departed for Splunk in February.

5. Five top gaming investors explain how the pandemic is reshaping MMOs and social games

This month, when we asked 17 VCs how this era would impact consumer startups, gaming was one of the top verticals they named. We wanted to learn more about how the venture community thinks about the future of this sector, so we asked five experienced gaming investors about where they do — and don’t — see new opportunities within this trend. (Extra Crunch membership required.)

6. DJI’s mini Mavic Air gets an upgrade with improved camera and battery life

The original Mavic Air’s 21 minutes of life was among Brian Heater’s key frustrations with the product. The company says the new drone should be able to get up to 34 minutes on a charge.

7. Partech raises $100 million seed fund

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The firm is looking for companies at the very early stage, from pre-seed to pre-Series A. Partech can invest as little as a few hundred thousands dollars and as much as several million dollars, depending on the stage of the startup.

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 9am 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.

3) Use of spreadsheets is important to stay organized. 

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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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