Despite Cambridge Analytica Scandal, here is why Facebook will remain advertisers’ haven!
Facebook-Cambridge Analytica scandal is the first of its kind. Even though the story may have become a household topic for hot discussion, many still don’t know what really transpired. We bring to you, a detailed timeline that explains each event as it happened.
The future of Facebook may look at risk. But let’s be honest to ourselves. How many billion dollar companies have actually gone belly-up by doing scandals? Not many! Facebook will be here for some more time and what we can say surely about them is that they will have to make drastic changes to win people’s trust in their brand.
With companies like Tesla and Playboy opting out of the social media platform in lieu of the scandal, the tech giants are posed with a big question that begs to be answered.
From Facebook CEO Mark Zuckerberg’s testimony to the Congress, we can be sure about one thing: Facebook will make significant changes in the coming weeks.
We have a list of changes that will make brands want to reconsider their practices.
- Shutting down Partner Categories: Facebook announced through a blog that they will be shutting down Partner Categories – a service where information was “…provided by Facebook Marketing Partners with the Audience Data Provider specialty. These categories allowed you to further refine your targeting based on information compiled by these partners, such as offline demographic and behavioural information like homeownership or purchase history.” It will be removed completely before October 1st.
- Limited information on “Custom Audience” feature: Facebook announced it will ‘temporarily removing the ability to see audience sizes and estimated potential reach for Custom Audiences in Ads Manager and Power Editor.
- Second-hand data protection: Second-hand data protection will be enhanced and the company has already introduced restricting rules for advertisers to access user data.
- Restrictive Data Permission for Apps: Users, from now on, can access apps by only sharing their names, display pictures and email ids. The company also informed the users about the list of apps they have used and ways to withhold their data from service providers on top of the newsfeed.
- Strict oversight to App Developers: Facebook will make lives’ harder for application developers by making it hard for them to access data without signing stringent requirements forms at the backend.
- Advertisers need to provide authorised identity and location: To prevent mass misinformation, Facebook will now incorporate strict measures for advertisers to follow. Digital marketers, especially political campaigners will have to provide legitimate identity and location before posting ads.
- Transparency for political ads: Facebook will make a worldwide launch a ‘searchable archive’ where users can access political ads from the past. That’s not it! Users will also see labels and information like who funds these ads.
- Harder, Better, Faster, Stronger: Mark Zuckerberg has claimed to conduct a faster and better implementation of new updates before the upcoming elections in countries like Brazil, India, Mexico and Pakistan.
We have more strategies brewing in at our studio by the hour. After following the debate between Zuckerberg and the world media, we have come to the conclusion that Facebook will be here to stay. And that’s just not it! Facebook will be one of the most powerful marketing platforms by the end of Q4 2018. The California-based conglomerate will improve the platform in users favour and give tough time to brands across. We can expect a lot of squabble over pixel spaces.
That’s where we step in. If you have brand that needs to get out there, we are willing to offer creative solutions with potential to engage users world-wide, ethically. Because by now you must know, it is not about the money or the brand value, it is about how you do the right thing at the right time.
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