Facebook Advertising is Changing
It’s cluttering your newsfeed, it’s overtaking every Facebook marketing group, and it has resulted in Facebook’s biggest stock decline in over a year. Yup, we’re talking about the latest Facebook announcement from Mark Zuckerberg.
Just in case you missed it, Zuckerberg put up a post on Friday outlining Facebook’s focus areas for 2018. This primarily related to making changes on the platform that could help cultivate and build genuine connections on Facebook, particularly with friends and family.
He stated that “as we roll this out, you'll see less public content like posts from businesses, brands, and media. And the public content you see more will be held to the same standard -- it should encourage meaningful interactions between people.”
Basically, Facebook will be favouring content that is posted, shared and discussed among users and their friends and families over businesses, brands, and news organizations.
Facebook says the reason for this change in approach comes from in a range of studies they have conducted with different universities which findings show that people who used the platform passively, such as aimlessly scrolling through their feed with little interaction, felt worse after using Facebook. While, users who engaged with content on Facebook, such as liking, commenting, or sharing posts, felt better after using Facebook.
Obviously, Facebook wants to make people feel better after they use the platform so that they continue to come back and use Facebook more often. This makes sense, right? We think so. While this announcement does sound quite shocking, Facebook has been consistently changing the algorithm to make their platform, especially in relation to advertising, more customer-centred. Remember, Facebook’s number one focus is the consumer experience! So, how does this affect marketers and businesses?
If you are taking a customer-centred marketing approach and creating content that is genuinely relatable, valuable and starts a meaningful conversation with your audience, then you don’t need to worry.
If anything, you should celebrate; these updates may very well work in your favour. As we predict, marketers who are willing to adapt, evolve and think-outside-the-box when it comes to creating content that cultivates conversation and builds connection will have more effective, and profitable marketing. Marketers who don’t provide value or cultivate connection or engagement, and constantly stick to creating content that users do not want to see, will find the change difficult, costly and may be deterred from using Facebook advertising.
It will be interesting to see how Facebook approaches this change in their platform, and if the change will be as severe as Zuckerberg initially implied. From that one Facebook post on Friday, Mark Zuckerberg lost around $3.3 billion, as well as his place as the fourth-richest person to Spanish retail billionaire, Amancio Ortega. We will have to see whether or not the reaction to the news affects how Facebook moves forward.
Either way, there are still many unanswered questions regarding the update and we are excited to find out exactly what Facebook has in store.
What are your thoughts on the latest Facebook announcement? If you’re struggling to create content that builds engagement and connection with your audience and allows you to effectively scale your business and ROI, we can help! Book in your free strategy session.