Top 10 things Facebook Doesn’t Want You to Know
There have been some pretty massive stories coming out about Facebook, the 2016 election, and your data. Below are some big reasons why this is trouble for Facebook and why this may spell trouble for your advertising. Let’s start with the top-line information:
- Facebook provided detailed data on 50 million users to a company called Cambridge Analytica.
- Cambridge Analytica was created by Steve Bannon who was the campaign manager for Trump in 2016.
- The harvested the data by using polls and digital surveys for the information and used it in order to impact the 2016 election, send out false news stories, and sway public opinion.
- Read more at Vox for a very simplified and detailed version.
- There is a LOT more on Cambridge Analytica and you can read additional details at CNBC.
- According to multiple reports…Facebook has known about the data issue and the possibility of personal privacy issues for 2 years [at least].
- Facebook’s stock has taken a massive hit of over 60 billion over the last few days.
- Additionally, it is being reported and acknowledged [by Facebook] that they are tracking phone calls and text messages by users. The massive privacy and data issues are crushing Facebook stocks and users are shutting down accounts over these issues.
- Facebook is selling your data for profit and you’ve digitally signed your digital life away so they can do exactly that.
- Facebook content isn’t very trustworthy. Less than 6% of surveyed users trust the content created by unknown brands. Excellent article by Marketingweek and the ‘fake news effect‘.
- 4 out of 5 ads are ignored on Facebook.
- According to Pew, the majority of Facebook users go there to socialize, catch up with family and friends…not to buy or be sold anything.
- Social media is the least converting channel of all top primary conversion pathways.
- Facebook changed their algorithm  to show content that is more family friendly, friend-friendly and based on YOUR likes and dislikes versus big advertisers.
So what does all of this mean? Well, for those that follow Searchology…not much. We already know how to use social media the right way. We know that a healthy social media mix is important to reaching out and informing our audience. But from a higher perspective, this will force major social platforms to change how they are treating our data and what they do with our information.
This could spell TROUBLE for your brand and company if you rely too heavily on social media to get the word out or achieve peak awareness. A careful mix of content, information, clarity, and honesty are the primary needs of all social media users. Fill that gap…win social media. Yes, nearly 50% of Internet users are getting their news from social…however, we are reaching a point where promoted stories will be ignored, brands will be switched off, and ‘friends’ will be unfollowed as well.
Watch this space, dear readers. Watch closely. No reason for panic…but every reason to use critical thinking moving forward.