There has been a lot of crazy news going around about Facebook, but let’s not get ahead of ourselves.
I’d like to address a few things.
Facebook just cut ties with a big data company, which will remove some targeting ability from ads.
There’s lots of exaggeration here. Facebook blatantly labeled it’s partner categories for ad targeting, and they were not as often used by marketers.
I’ve used them maybe once or twice, and never as a primary targeting method.
This has happened before (on Facebook and other platforms), and despite the extensive coverage, it’s unlikely that users will be leaving Facebook in such large numbers.
People have become accustomed to communication via social media, and they’re unlikely to abandon their literal social network in one fell swoop — especially as Facebook is responding rather quickly.
Further reading: Advertisers Didn’t Leave YouTube, and They Won’t Leave Facebook
This will be a catalyst in changing the way that privacy is handled on social media and the internet, but it won’t end this form of communication, it will only change it.
Facebook only makes money via brands and advertisers. They will adapt, and help us to adapt. If Facebook does somehow fall, users will want to hold on to the connections that they’ve made on these platforms, and they will migrate, just as they did with MySpace.
And because all of these platforms make their money the same way (advertising), we will migrate as well, and reconnect with your audience wherever they land.
If users jump, they’ll need somewhere to land, and that landing pad needs to solve Facebook’s problems. That’s what Facebook did with MySpace’s problems, and why people jumped ship. Here are the problems (via this wonderful article):
- Accuracy of content – Users are posting content that misinforms, and there aren’t yet systems in place to catch them with regularity.
- Content creation – Users aren’t creating content on Facebook as they once did, and content is what draws people to a social network.
- User security & data collection – Cambridge Analytica. This one is pretty obvious.
The only social network out there that has really taken a crack at all these issues is Facebook. Most of their strides have been made very recently, in response to recent events.
If I can answer any questions, please don’t hesitate to get in touch!