Monthly Archives: July 2012
By : Eric Jackson
Image via CrunchBase
To listen to the Facebook (FB) earnings call last week, you would have thought that the management team passionately cares about their users’ experience and the care and feeding of their advertising clients.
Here’s Mark Zuckerberg discussing how complex Facebook’s internal systems are to track user behavior and the effectiveness of various ad campaigns:
at any given point, we have a lot of different tests, different algorithms running, and we measure engagement of everything downstream from News Feed and the whole system, right? So obviously, clicks and engagement and feedback in News Feed, how many people want to share, but also how many page views and how much time people spend on Facebook overall, ad performance, everything, down to all of the different tweaks that we do in News Feed, and user sentiment as well. So I think we have pretty robust systems that are built out around this. And one of the things that I think is pretty interesting is what we’ve seen is that we can put in good sponsored content and have it not degrade those metrics. So that’s really what we’re trying to do, is we’re rolling some of these Sponsored Stories out more conservatively because we want to make sure that the quality is very high. And we’re basically continuing to run those tests to make sure that we are producing the best product that we can.
our third area of progress has been to make it easier for small- and medium-sized businesses to advertise on Facebook. Local business advertising is considered by many to be the Holy Grail of Internet advertising since the market opportunity is so great. This is proving difficult, however, because small business owners often lack the time or ability to adopt new technology. Facebook is uniquely accessible to them. As they typically learn to use Facebook by setting up personal profiles or Timelines, they then discover the value our service can provide them as business owners. Many of the world’s approximately 60 million business owners are already Facebook users. Over 11 million businesses already have pages on Facebook. Over 7 million of these pages are actively used each and every month. In addition, hundreds of thousands of small businesses advertise with us. By making it easier to create a business page and run ads, we believe we can increase the number of small and local businesses who use our tools.
Yet, there are two stories out this morning about small businesses who are frustrated with their Facebook ad experience.
By Nina Mehta and Laura Marcinek
Nasdaq OMX Group Inc. (NDAQ)’s creation of a $62 million pool to pay brokers that lost money in Facebook Inc.’s public debut shows how far apart the exchange owner is from UBS AG (UBSN) on who is to blame for losses in the botched deal.
Switzerland’s biggest bank said yesterday that its second- quarter profit fell 58 percent in part because of losses that exceeded $350 million in the May 18 initial public offering. UBS is among brokers including Knight (KCG) Capital Group Inc. that have said they’ll seek compensation after a design flaw in Nasdaq’s computers delayed orders and confirmations just as the shares were about to start changing hands.
UBS promised legal action to get back more than five times as much money as Nasdaq has set aside. In proposing to revamp and enlarge the restitution fund on July 20, Nasdaq said it was seeking a reasonable way to compensate firms for which its “system difficulties caused objective, discernible harm,” according to a regulatory filing.
“I don’t see them getting anywhere close to covering this type of number,” Jillian Miller, an Atlanta-based exchange analyst at BMO Capital Markets, said in a phone interview. “Nasdaq was fairly clear on their conference call that they saw their proposal as a relatively final document. It’ll probably go forward as it is now, with Nasdaq keeping its proposal and UBS trying to sue them.”
By Scott Gleeson and Jesse Yomtov
Twitter has a non-financial partnership with NBC during the Games and issued the following statement from general counsel Alex McGillivray:
“We want to apologize for the part of this story that we did mess up. The team working closely with NBC around our Olympics partnership did proactively identify a tweet that was in violation of the Twitter Rules and encouraged them to file a support ticket with our Trust and Safety team to report the violation, as has now been reported publicly. Our Trust and Safety team did not know that part of the story and acted on the report as they would any other.
“As I stated earlier, we do not proactively report or remove content on behalf of other users no matter who they are. This behavior is not acceptable and undermines the trust our users have in us. We should not and cannot be in the business of proactively monitoring and flagging content, no matter who the user is — whether a business partner, celebrity or friend.”
NBC has been seriously criticized throughout the Olympics for its coverage of the London Games.
The hashtag, “#NBCfail” even became a popular trend on Twitter.
But when a journalist took things too far in his criticism of the network, he suffered the repercussions.
Except it wasn’t even NBC that went through with the punishment. It was the social media platform he was using to speak freely.
British journalist Guy Adams, a Los Angeles correspondent for Britain’s “The Independent,” had his Twitter account (@guyadams) suspended for the worst of his tweets.
Microsoft (MSFT) is giving its email application a much-needed makeover. On Tuesday Microsoft’s Outlook Blog took the wraps off of Outlook.com, a new online email portal that cleans up the traditional inbox user interface and adds several social networking features to the mix. On the inbox side, Outlook.com automatically detects emails that are newsletters and puts them into their own separate folder while also giving users the option to easily stop receiving newsletters with a one-click “unsubscribe” button. The new inbox also allows for message “sweep” operations where Outlook will only keep the very latest message from a given sender and will delete all previously sent messages.
On the social networking side, Outlook.com syncs up with most of the usual suspects including Facebook (FB),Twitter and LinkedIn, and also updates contact information whenever anyone changes information in their Facebook or Twitter profile. Outlook.com also automatically filters all social networking emails detailing status updates into their own specific folder thus further eliminating inbox clutter without any additional user input. Outlook has incorporated Facebook’s instant messaging system as well, so users can connect through IM with their Facebook friends directly from their inboxes. Read More