It’s been a rough couple of weeks for Facebook.
First, there was fallout over the Cambridge Analytica data breach, and then, Facebook founder Mark Zuckerberg’s appearance before Congress. The latter did no favors for the CEO’s public image; thanks to his rather stiff performance, social media users branded him with colorful nicknames like “Zuckerbot.”
While we’d love to say “we told ya so” – because we actually predicted the demise of Facebook a few months ago – it may not be time for advertisers to give up on the social media giant quite yet.
— Josh Caplan (@joshdcaplan) April 11, 2018
The data doesn’t lie
If you live and work in the digital marketing sphere, it seems all you hear about these days is Facebook’s fall from grace – the data breach, privacy issues, Russian trolls, fake news, and so on. In such an environment, it’s easy to think the social media sky is falling.
But to the average user (who, of course, represents the bulk of Facebook’s base), it’s simply not that big a deal.
Wired points to a recent survey that found users spent, on average, “53 minutes per day on the platform in the first quarter of 2018” – down from last year, sure, but still far longer than what the competition gets. In fact, Wired says, “no other social platform comes close.”
Additionally, “users largely haven’t changed their privacy settings in the past four weeks amid heightened scrutiny over how (Facebook) shares individual data,” the Wall Street Journal reports.
For these reasons and others, Wired adds, Facebook’s “popularity among advertisers” is in no danger.
But what about #deleteFacebook?
The #deleteFacebook movement has gotten a lot of press, and seemingly momentum, thanks in part to support from celebrities like Steve Wozniak and Susan Sarandon.
Despite all the hoopla, though, most people just don’t seem to give a hoot.
And we have even more data to back that up. According to Barron’s, a new analysis from KeyBlanc shows that “interest in (quitting Facebook) has been waning.”
Based on Google search data and even Dow Jones market numbers, Barron’s notes, the researchers say there’s little to suggest that #deleteFacebook has had “a meaningful and lasting impact to engagement trends so far.”
What’s more, Facebook itself says they haven’t such much of an effect from the movement.
The answer is clear
For now, it would probably be unwise to overreact to these controversies with any drastic changes to your advertising budget.
Though Facebook is hitting some speed bumps and will undoubtedly evolve (not only in its user experience, but also in the way it does business), it appears to be here to stay. So if you’re interested in using the platform to reach new customers and generate leads, we’re here to guide you through it. Reach out to us today for a FREE consultation.