On Monday, Facebook announced the addition of two new names to its board of directors, Nancy Killefer and Tracey T. Travis.
Killefer brings potentially valuable government insight to Facebook, as she served in the U.S. Department of the Treasury during the Obama administration. With last year’s departure of former Clinton administration chief of staff Erskine Bowles, Facebook’s board lost one of its voices with deep government experience.
In addition to her time in the treasury, Killefer held various leadership roles at global consulting firm McKinsey & Company over 30 years and currently serves on the board of Cardinal Health. She previously held a board seat with Avon.
“I’m excited to join the board of Facebook, a company that is at the center of the biggest debates about technology and society,” Killefer said in the investor press release. “The next few years are likely to shape the internet for generations to come and I hope to contribute to Facebook’s efforts to be a responsible force for good in the world.”
Travis, Facebook’s other board pick, joins from Estée Lauder, where she currently serves as EVP and CFO for the cosmetics company. While Killefer brings public sector experience, Travis offers a “strong finance and corporate leadership background,” per Zuckerberg, and plenty of consumer and retail finance experience from roles with Ralph Lauren, Limited Brands, Inc., Pepsi and General Motors. In a press release, Travis expressed optimism about Facebook and the “power of technology and innovation to change our world for the better.”
Facebook lost three board members last year, first Bowles and Netflix CEO Reed Hastings, known to clash openly with Zuckerberg, and later Dr. Susan Desmond-Hellmann, former CEO of the Bill & Melinda Gates Foundation. Last month, Facebook added Mark Zuckerberg’s close personal friend, Dropbox CEO Drew Houston to its board. This month’s additions fill in the remaining gaps.
Facebook’s board now consists of Zuckerberg, PayPal’s Peggy Alford, Marc L. Andreessen of Andreessen Horowitz, General Catalyst’s Kenneth I. Chenault, Dropbox’s Houston, Founders Fund’s Peter Thiel, Cranamere Group’s Jeff Zients, Facebook COO Sheryl Sandberg and the two new names. With the addition of Killefer and Travis, the board is at its most gender-balanced yet, with four women and six men filling the seats.
In recent years, Facebook has faced multiple outside proposals from shareholders to remove Zuckerberg from his chairman position, but his board has historically held fast. It’s unlikely that the company has brought anyone on particularly willing to rock the boat, but we’ll be following the new dynamics as the company’s latest board members settle in.
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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