Week 10 Full Class

Summary

The video script discusses the inaccuracy of ad campaign reporting since the iOS 14 update, recommending third-party tracking tools like Hyros for companies with over a million in revenue. It emphasizes the importance of accurate data for making informed decisions in ad management, comparing discrepancies between Facebook's native reporting and Hyros' data. The speaker also mentions the recent improvements in Facebook's reporting accuracy but still advocates for the use of a third-party tool for reliability.

Takeaways

• 📱 Since the iOS 14 update, advertising platforms have struggled to accurately report campaign conversions, leading to discrepancies in reported data.
• 🔢 The discrepancy in conversion tracking can vary significantly, sometimes being off by as much as 40% or more.
• 🛠️ The speaker recommends using third-party tracking software for companies generating over a million dollars a year in revenue to ensure accurate data.
• 🌐 The speaker personally recommends 'hyros.com' as the tracking tool of choice, having tried and compared several others.
• 🔧 Hyros offers a Chrome extension and a website for tracking, making it easy to compare data with platforms like Facebook Ads.
• 📊 Hyros provides a more accurate picture of ad performance, which is crucial for making informed decisions about ad scaling and budget allocation.
• 🤔 The importance of accurate data cannot be overstated; without it, decisions based on misleading data can lead to poor outcomes.
• 📈 The speaker emphasizes the use of key performance indicators (KPIs) such as cost per lead and cost per sale for evaluating ad effectiveness.
• 🚀 The speaker suggests that using the Hyros extension can streamline the ad management process, providing a clear view of which ads to scale or cut.
• 🔄 Facebook has been improving its reporting accuracy over the past year, but it's still not 100% reliable, and third-party tracking remains a valuable tool.
• 💡 The speaker advises to start by assessing the accuracy of the company's current ad tracking and only then decide whether a third-party tool like Hyros is necessary.

Q & A

What issue has arisen with advertising platforms since the iOS 14 update by Apple?

The iOS 14 update has created an issue where advertising platforms can no longer accurately report on their campaigns. This is due to changes in how user data is tracked post-update.

Why might reported conversion numbers differ between advertising platforms and third-party tracking software?

The discrepancy in conversion numbers can be due to the limitations imposed by the iOS 14 update, which affects the advertising platforms' ability to track user behavior accurately, while third-party tracking software may use different methods to measure conversions.

What is the recommended action for companies generating over a million dollars a year in revenue regarding ad tracking?

For companies with such revenue, it is recommended to use a third-party tracking software tool to ensure accurate reporting of ad campaign performance.

What is the name of the third-party tracking tool that the speaker personally recommends and why?

The speaker recommends 'Hyros' (hyros.com) as the third-party tracking tool because they have found it to be the best among the ones they have tried.

How does the Hyros tool assist in providing more accurate ad campaign data?

Hyros provides a more accurate count of conversions by tracking them independently from the advertising platforms, which can be affected by the iOS 14 update limitations.

What is the process like when a company decides to use Hyros for tracking?

Once a company decides to use Hyros, they will have a Zoom call with the Hyros team who will install everything needed, including the Chrome extension, and guide them on how to use the tool.

How does the speaker use the ATS Performance Tool in conjunction with the Hyros Chrome extension?

The speaker uses the ATS Performance Tool for high-level results and the Hyros Chrome extension for day-to-day ad management, ensuring they have accurate data for making decisions on scaling or cutting ad campaigns.

What are the key performance indicators (KPIs) that the speaker focuses on when analyzing ad campaign data?

The speaker primarily focuses on 'cost for lead' and 'cost for sale' as the key performance indicators when analyzing ad campaign data.

What is the importance of having accurate data for making decisions on ad campaigns?

Accurate data is crucial for making informed decisions on which ad campaigns to scale, cut, or continue, as decisions based on inaccurate data can lead to poor performance and wasted resources.

How has Facebook's reporting accuracy improved over the past 12 months according to the speaker?

The speaker notes that Facebook has been improving its reporting accuracy more significantly over the past 12 months compared to previous years, although it is still not 100% accurate.

What advice does the speaker give for assessing the need for a third-party tracking tool?

The speaker advises to launch ads without third-party tracking, monitor the accuracy of the reported data closely, and compare it with other sources like Shopify sales data to determine if a third-party tool is necessary.