Lisa asks, “Which social platforms do you wish you could (or are planning to) leave behind?”
Without a doubt, Facebook. On the one hand, it’s a rich source of data. On the other hand, it’s an unethical company that is willfully permitting hostile foreign agents to manipulate societies with no serious effort at prohibiting such attacks because the money’s too good. The good news is that the tide is slowly turning. Watch the video for full details.
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What follows is an AI-generated transcript. The transcript may contain errors and is not a substitute for watching the video.
In today’s episode, Lisa asks, which social platforms do you wish you could or are planning to leave behind? Without a doubt Facebook, on the one hand, as a data driven marketer, Facebook is one of the richest sources of data and information that marketers can use. In order to drive campaigns, the the audience insights tool is invaluable, precisely because it contains so much information about so large percentage of the population. That’s really handy. I was doing some work this past weekend, looking at the media diet of people within certain geographic areas, and the ability to specify very narrow geographies, and be able to extract out the top 100 Facebook pages that those people like and then extract the top years worth of posts from those pages, to do analysis and say this is what people in this geography are being fed for their media. That is valuable information that helps guide things like marketing, messaging, political campaigns, product development, you name it. So on the one hand, Facebook is an essential resource for rich data about micro segments of your audience. On the other hand, it is a deeply unethical company that has very little no regard for users privacy, has very little or no regard for ethics in general, and is willfully permitting hostile foreign agents to manipulate societies with no serious, discernible effort at prohibiting such attacks, frankly, because the money is too good work in when Russian intelligence approaches Facebook through a proxy partner and says, Hey, we want to spend a couple million dollars a month on a campaign to promote far right parties in the EU for the EU elections phase was like, Sure, I’ll take that money. Never mind the fact that the overall intentions and the overall designs of what that organization is trying to do hard are deleterious and have a clear aim at the stabilizing most of Europe. Facebook’s not going to turn down that money. Now. The good news is, the tide is slowly turning in a couple of different ways one, users are leaving Facebook more frequently. Edison research had a report recently that Facebook was bleeding members in the US at the rate of 15 to 17 million people that is a substantial number and the United States of North America are Facebook’s want to Facebook’s largest markets. So that tide is slowly turning and as audience data becomes less available, Facebook is ratcheting down its its data availability, because of all the privacy issues that makes it less valuable to marketers, which means marketers are less likely to spend money there and will seek alternate opportunities. And so that is what will eventually change Facebook is that if people aren’t going to spend the money there, then the business can’t do as well. It does run the risk of Facebook being like the cornered animal where it will do anything to to get itself free of
you know declining profits and may may behave more risky in a more risky fashion with our data rather than less. That’s distinct possibility. The other things that other ad networks are providing just as good or better results. We are seeing a lot of strong interest and good results in things like podcasting. YouTube advertising is fantastic if you know how to do it, right. YouTube, pre roll mid roll post roll ads, cards, true view, all that stuff, especially when linked with things like surgery marketing is is a valuable channel to look at. Twitter advertising, depending on the market, depending on the audience can be valuable. And good old fashioned email marketing. Yeah, the original social network is, is experiencing quite a renaissance as people start realizing. When you outsource your entire advertising system and polluting the data to a third party, you are at that third parties mercy. And we are seeing some marketers starting to realize, hey, we should probably own at least a portion of our data in order to be able to advertise any sustainable manner going forward. So in short, Facebook is is the 800 pound gorilla and like most empires, it will be doomed from within rather than through external forces. So that’s something to keep in mind. Now what do you do with this information, get as much value out of Facebook as you can. And if you do have to spend money with them, and and you’re okay with that from an ethics perspective of supporting and not unethical company, if you do have to spend money with them, focus on getting people off of Facebook, which means that run campaigns spend money to get people onto your email list or to get them to your website where a different retargeting system can can focus or get them to enroll in an SMS system or a messaging bot that doesn’t rely on Facebook’s messaging infrastructure. And remember that Facebook owns Whatsapp, Facebook owns Instagram. So we’ve seen some people saying, well, we’re really Facebook, we’re gonna we’re really Facebook, we’re going to Instagram. Still the same company. Focus on what you own, and what you can control because in the long run, that will be the most sustainable thing for your business, building your email list, building your text messaging list, your phone number list, your call list, your direct mail, postal list, all of that stuff is stuff that you will have the most value from in the long run. Now you have to protect that data, and you have to behave ethically with it. But if you’re leaving Facebook because of ethics issues, then hopefully you have your own code of ethics that you strong support you internally. So interesting question, Lisa, and will remain to be seen what happens over the next 12 to 18 months, particularly as we go through the EU elections, the Brexit votes, the US presidential election, how Facebook is used or misused by hostile foreign parties, and whether that eventually incurs strong regulation on Facebook and I would be willing to bet small pastry we tell the other $5 or less that if regulation comes to Facebook, it will be first through the EU because they are much less tolerant of big tech manipulating government affairs than then the US is so keep an eye on that. As always, please leave a comment in the comments below and subscribe to the YouTube channel and the newsletter will talk to you soon. want help solving your company’s data analytics and digital marketing problems. This is trust insights.ai today and let us know how we can help you
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