Can Facebook recover from this? To some, the answer to this question is recover from what?
Since the data scandal broke on 18th March there have been users questioning whether they should leave Facebook or not. #deletefacebook started a few days later from a tweet by the founder of WhatsApp, Brian Acton. Within two hours the tweet was retweeted 10,000 times. Within a week this number was c. 340,000.
But the movement is slowing down.
In a poll conducted yesterday by Toluna, 1,000 consumers in the UK were asked “Do you trust Facebook less as a result of the revelations from the Cambridge Analytica scandal?” 53% of those answered yes, however 34% said the scandal hadn’t changed their opinion of Facebook in the slightest. Surprisingly, 13% ‘had no idea what the survey was talking about’. Interestingly, a study conducted ‘just after the story broke found that only 34% of users had updated their privacy settings on settings on Facebook and less than 8% had deleted their accounts.’
So whilst the public perception of Facebook has been altered in the eyes of the majority, this has not translated to a mass walkout. Personally, I would be shocked if it did. Facebook has seamlessly become part of everyday life for its consumers and this is not likely to change anytime soon. We only need to look at the data breaches of Uber or the tax avoidance scandal that Amazon went through to show that consumers are very loyal. We are all creatures of habit and hardwired to avoid change.
What does this all mean for us in the advertising industry? Well, in my opinion, without a mass exodus of Facebook consumers there should be no reason for companies to pause or stop advertising with the company. It is still a great way to reach the consumer through a highly targeted approach.
Daniel Chrystie, Associate Director of AV