Can fear discredit advertising on Facebook?
Apr 13, 2018 by Liz Laenger
A few weeks ago there was a huge announcement about a major change in the newsfeed algorithm and there was mass panic because advertisers thought it was going to ruin the recipe that had been working for them for years.Then a couple weeks later the news broke of a data breach that may or may have not affected everything from your unauthorized release of personal information to controlling the presidential election.
After watching the hearings from legislators and Mark Zuckerberg it seems the questioning was a missed opportunity. For those of us who work in the tech industry, making sure that users' needs and rights are protected is paramount. It felt like a witch hunt that would have been better lead by the children of said legislators. I mean what even is this (click for a good laugh)???
If there was a breach planned and executed for malice, it needs to be exposed. However, the robotic and common subject of memes, Zuckerberg, somehow came out smelling like a rose. See here. I was mortified by the questions asked and the lack of preparation for something deemed to be quite serious. You could tell these people have no idea what Facebook is and the value it provides to the economy and in my humble opinion is a little too late to reverse now.
The ever-changing medium of Advertising and News distribution is unacceptable to people who hate change. This dramatic shift to internet media, embraced by almost the entire population, is a threat to the comfortable income of people unwilling to understand it or even attempt to. Shopping malls are closing, business as usual from 10 years ago is antiquated and still they cling to a phone book demanding to maintain “the way we’ve always done it”. I have witnessed this in working with business owners who have been around long enough who continue to insist on that 5pm evening news prime spot that no one is watching. Actually, I consider that a niche market for the demographic still there. Life alert, Funeral plans, Hearing aids, etc. will probably still win there, but why wouldn’t you start moving into this medium so you can leave your business as a legacy to the future generations.
“This ‘telephone’ has too many shortcomings to be seriously considered as a means of communication.”—Western Union internal memo 1876.
Look at these hilarious historical quotes and guess what our generations ridiculous quote will be, we may have already heard it in the hearings:
“The wireless music box has no imaginable commercial value. Who would pay for a message sent to nobody in particular?” —an investor in response to David Sarnoff’s push for radio 1920
“While theoretically and technically television may be feasible, commercially and financially it is an impossibility.” —Lee De Forest, radio pioneer 1926. This one is my personal favorite!
“Visionaries see a future of telecommuting workers, interactive libraries and multimedia classrooms. They speak of electronic town meetings and virtual communities. Commerce and business will shift from offices and malls to networks and modems. And the freedom of digital networks will make the government more democratic. Baloney.” —Cliff Stoll, author, astronomer, professor
Here is a voice of reason:“If I had a nickel for every time an investor told me this wouldn’t work…” —Jeff Bezos, founder of Amazon 1995 and the first and largest investor in Google search for his then book company. By the way, he purchased Zappos for over a Billion dollars since then.
The online behavior hasn’t changed one bit even with all this negative press. I’ve heard a couple of people say they deleted their account…..BYE! There are plenty more buyers still there and they aren’t leaving. In fact, new buyers enter this market every single day. Why are people letting this mindset sabotage their legacy?
There will be more changes coming, bet on that. However, this "new media" is still bringing in more revenue than ever before to the people willing and patient enough to try it and find the resources and variables to make it work. It’s not push button and boom results, but, it’s worth understanding or partnering with someone that does. You don’t have to throw money at it. You can spend a fraction of your marketing budget, play it like a long game, and leave the legacy your organization deserves.