Facebook’s outreach is expansive, but advertisers are the essence of the social media platform. In last week’s news response, I spoke to the incident with a British data firm and how they abused information of up 87 million Facebook users, and now, brands that advertise on the site are may face repercussions. Users have expressed much concern about their privacy since a lot of personal information goes into building a profile on the site, and Facebook’s founder Mark Zuckerberg had to appear in front of congress regarding the issue. This is extremely concerning to advertisers.
The New York Times reports on advertisers concern with the privacy of their own confidential information, and they are concerned with the lack of trust that now exists between Facebook users and the platform itself, which includes the trust between Facebook users and those who advertise on the cite. Marketers often buy data from outside firms so that it can strategically direct ads to certain groups of people that it will appeal to, but the company does not store that material and cannot see the personal information. Users are untrusting, marketers are frustrated at the situation, but few have actually left Facebook.
Facebook is the second-biggest seller of digital ads and the platform does not expect that to change, even with the recent scandal. Facebook missions remains unchanged. It is still the same company that strives to bring connectivity to remote areas and give people a voice to enable movements that will change the world.