Facebook, Advertisers and Congress Walk into a Bar...
Anthony Jones
Helping Nonprofit Consultants Grow Influence & Generate Leads on LinkedIn ?? 20-Year Digital Marketer ?? $40M Raised Online ?? BuildYourBrandOnLinkedIn.com
It's something that actually happened this week. I'm still waiting for the punchline...
So, in case you’ve been living under a rock recently (in which case, you make questionable life choices), you know what I'm talking about. Since news of the Cambridge Analytica data debacle, hundreds of questions have been raised:
- Will people abandon Facebook amid fears of data privacy?
- Will brands stop advertising on Facebook?
- Does Congress even know what Facebook does or how the Internet works?
Ok, well, those are just three questions, but those are the ones I'll answer because I don't have time for hundreds and neither do you. Also, you may totally disagree with my answers, but hey - 'Merica. Argue your points in the comment box below.
Facebook Users & Data Privacy
Yes, people will continue to use the Facebook. Yes, I'm sure.
Granted, a small percentage of their 2.2 BILLION users may actually ditch Facebook. A few million will leave temporarily just to prove a point, but they'll be back next month. Yes, I'm sure. And 90% will keep using it on a regular basis because it’s become ingrained in their everyday life - it's their online identity.
Data privacy IS important, don’t get me wrong. I believe Facebook will make some legitimate security and privacy upgrades in the coming months. Congress may even try to regulate something (which ALWAYS makes things better). But a few months from now, this will be out of the news cycle and people will go back to posting pictures of their lunches, bashing Trump, Obama, Bush, etc. and wishing strangers “Happy Birthday!” because birthdays are a REALLY, REALLY BIG DEAL for Facebook.
Facebook life will go back to normal.
Advertisers
They aren’t going anywhere, especially those who have relied heavily on Facebook as a key part of their marketing and advertising strategy. I'm speaking as one of them. Facebook has developed what is arguably the most powerful targeted advertising model in the world. Brands won't just walk away from that.
It's true, Facebook has already removed a significant amount of data that companies can use to target, primarily from third parties like Acxiom, Oracle and Epsilon. That does sting a bit if you're a marketer. But at the end of the day, Facebook is in the business of selling ads.
If I owned a farm, I'd BET my farm that Facebook will launch an assortment of new tools and services designed to keep advertisers happy and spending money - SOON. It’s probably a top priority for Facebook engineers right now, although it's not something Zuckerberg discussed during his testimony this week. And let's face it: That would have only confused Congress even more. Congress didn't need that.
I would also bet that other social media channels (Snapchat, anyone?) will see this as an opportunity to capture some advertising market share. Savvy advertisers would be wise to use this time to expand and diversify their social media spend – a smart move, in my opinion. But they won't abandon Facebook by any stretch.
OR, maybe our old friend Tom will make a comeback and MySpace will be a thing again? What say you, Tom??
Congress - Bahahaha Congress!
Speaking of Congress, the BEST part of this week’s Congressional circus was watching the leaders of our government try their best to understand basic principles of Facebook and the Internet. God bless them for trying, but most of it was a comical fiasco. On that note, Mashable did a great job capturing the highlights from this week. Also, laughter is important so I hope you enjoy.
Yeah, I even made a Tweet because it's something I do. Sometimes.
But this guy won the Internet as far as I'm concerned. Bravo, Dave.
So what do YOU think? Will this blow over? Will things go back to normal? Am I an idiot? Will Facebook implode? Will MySpace finally make the comeback we've all been hoping for?
Facilities Flooring Specialists Installation, Re-Grout, deep cleaning, Back of House & Walk in Coolers. Across the U.S.
5 年Anthony Jones ??Great i formative and as always funny post. Iis a good thing I am not on facebook??♀???
Author of "Life's a Trip" |Whole Health Coach| Personal Trainer
5 年Your writing is informative and fun... oh my goodness... love ??
Founder, CRRNT / CEO, The New Blank
6 年The smartest thing Congress should've done is open up a Facebook Live stream and allow savvy users to submit questions in real time the congressional interns could've curated in hopes of pressing Zuckerberg. It was embarrassing (not the first time) to see the older generation responsible for making laws demonstrate they don't have enough technical aptitude to ask curated questions. The vast majority of questions were weak sauce. I'll wager your fake farm that Zuckerberg has conducted more difficult interviews than the softball questions served up by out of touch Congress. In terms of your other two points, it really depends on the scale. Will Facebook's stock price suffer - doubtful. Will they implode - no. Will they create additional means to monetize privacy, you bet! The platform demographic is getting older so marketers and brands have naturally begun leveraging other platforms to reach a younger demographic. The primary way Facebook will maintain market share is through M&A, better ad-tech (AI + ML), and leveraging the mountains of data for 3rd party brands/advertisers. To me, the question isn't if the Facebook ad revenue or user install base will diminish, but whether or not the US market or government wants a single entity controlling/selling behavioral data; some of which was gathered in a pervasive/intrusive manner. It's almost as if Facebook could be considered another branch of our intelligence community instead of a for-profit corporation. The real litmus test will be if brands and communities tied to the conservative, hunting, firearms worlds return - or stay on this platform to the degree they are today. All (including DU) should seriously rethink their social strategy that includes leaning too hard into a platform that's demonstrated bias. Nowadays, too many brands are forcing users to pick sides instead of diversifying their marketing mix to focus more on engaging existing fans/followers/customers meaningfully than acquiring new users through FB. If those groups keep running back to the beehive for one more ounce of honey, they'll get stung.