Facebook faces big antitrust lawsuits, DoorDash and C3.ai go public and YouTube announces new election misinformation policies. This is your Daily Crunch for December 9, 2020.
The big story: FTC and 48 state AGs sue Facebook
They’re separate suits, although the two groups coordinated their investigations. Both suits claim that Facebook has behaved illegally when it acquired Instagram and WhatsApp, and that it used its monopoly power to suppress competition. The FTC suit also calls for Instagram and WhatsApp to be split off from the company.
In response, Facebook tweeted, “Years after the FTC cleared our acquisitions, the government now wants a do-over with no regard for the impact that precedent would have on the broader business community or the people who choose our products every day.”
The tech giants
DoorDash, C3.ai skyrocket in public market debuts — Two American tech unicorns saw their values climb after they began trading today.
YouTube declares war on US election misinformation… a month late — YouTube waited until the “safe harbor” deadline, when audits and recounts must be wrapped up at the state level, to enforce a set of rules against election misinformation.
Google CEO says company will review events leading up to Dr. Timnit Gebru’s departure — In CEO Sundar Pichai’s memo, he said the company needs to “accept responsibility for the fact that a prominent Black, female leader with immense talent left Google unhappily.”
Startups, funding and venture capital
Squire, a barbershop tech startup, triples its valuation to $250M in latest round — Squire raised $59 million in a round led by Iconiq Capital.
Career Karma raises $10M to connect students to coding bootcamps — The startup is bringing a pick-and-shovel strategy to the coding bootcamp world.
Ada Ventures closes first fund at $50M, investing in diverse founders tackling society’s problems — A year ago this week, Ada Ventures launched on stage at TechCrunch Disrupt.
Advice and analysis from Extra Crunch
Coinbase’s backstory and future with ‘Kings of Crypto’ author Jeff John Roberts — “Kings of Crypto” tells the story of Coinbase, Brian Armstrong and the dream of a crypto economy.
As several marketplace unicorns prepare IPOs, a VC digs into the data — “Growth trumps all,” says Menlo Ventures partner Venky Ganesan.
How DoorDash and C3.ai can defend their red-hot IPO valuations — An excited market brings big valuations, stacks of cash and high expectations.
(Extra Crunch is our membership program, which aims to democratize information about startups. You can sign up here.)
Gift Guide: The best books for 2020 as recommended by VCs and TechCrunch writers (Part 2) — Here are nine more books (plus one bonus) recommended by VCs and TechCrunch writers.
Streamers, including Netflix and CBS All Access, roll out new family-friendly features — Netflix announced the rollout of the Kids Activity Report and Family Profiles, while CBS All Access added a Kids Mode.
TC Sessions: Space 2020 launches next week — We’ll be (virtually) hosting out-of-this-world experts, innovative agencies and bold, boundary-breaking startups.
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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