Maybe you have noticed;
Facebook is now displaying
advert rates for pages and
businesses in Naira. If you
have not, it is probably
because of the gradual roll-
out process the social
network applies to test
updates on the platform.
Usually, when Facebook
introduces an update, a few
users are granted first
access for an unspecified
period. If the update
achieves satisfactory
results, other users are
then allowed access. This
method varies from Twitter’s
where only users on the
beta testing programme are
allowed exclusive preview of
updates before others.
There is no selective rhyme
to Facebook’s update test.
As one of the selected few to
receive the update, I
decided to take an
observatory look at the
intent of the currency change
for Facebook ads.
The update came nearly two
weeks ago, I waited to see if
it was a transient experiment
but apparently, more user
accounts for Facebook ads
are being changed from the
normal Dollar rates to Naira.
The change in the currency
does not affect the rates as
charges are still calculated at
the official conversion rate —
$1 = ₦310.250. However,
prices still reduce as the
number of ads increase.
What is not exactly clear is if
after paying for an advert,
your account will be debited
at your bank’s normal rates
or the advertised official
rates (₦310). I already
setup a mini ad campaign; I
will update this accordingly
as soon as my banks sends
an alert.
What the fuss is really
about
Nothing. The usual rates for
Facebook ads are shown in
Dollars are charged to your
account at your bank’s rate.
Facebook recently released
figures that quote 4 million
businesses as actively
advertising on its platform.
According to the report,
“
“….the fastest growing
region is South East Asia
with the following
countries: Vietnam,
Indonesia, Greece,
Ukraine and Philippines.
The top five countries
based on yearly growth
are: U.S, Brazil, Vietnam,
Mexico and the United
Kingdom. Over 85 per
cent of business Pages
use mobile and 40 per
cent of active
advertisers have
created a Facebook ad
on mobile. Findings have
also shown that more
than 30 per cent small
and medium sized
business pages on
Facebook are women
owned. Facebook’s
simplest tools have
helped convert these
businesses to advertise.
Two top examples are
boosted posts or
promoted pages.”
It is uncomfortable not
seeing an African country
anywhere in the metrics. It is
equally cringeworthy that the
most populous black