“I’m really sorry it happened,” says Mark Zuckerberg. Can an apology really retract back 50 million users’ data?
If you’re active on Twitter, you’d know what’s trending, #deleteFacebook. Articles like how do you delete Facebook and what other social media apps to replace Facebook are flooding every possible newsfeed.
2018 isn’t going at all well for Mark Zuckerberg with the Cambridge Analytica scandal, the advertising industry breathing down his neck and shares dropping an all-time low. WhatsApp co-founder Brian Acton who tweeted that it’s time to delete Facebook isn’t helping either.
His public apology doesn’t seem to be working either. Bank of America Merrill Lynch has reduced its price target for Facebook shares to $230 from $265, saying Zuckerberg’s statements will not fix the negative sentiment against the company.
Now, Mozilla the maker of Firefox web browser is the first organisation to suspend advertising on the social network saying that the company’s policies “leave billions of its users vulnerable without knowing it.” Commerzbank, Germany’s second-largest bank, said it was also halting adverts over “data security” fears.
In February, consumer goods group Unilever threatened to withdraw advertising from Facebook and internet giant Google if they did not do more to police extremist and illegal content on their platforms.
The Times reported ISBA, a UK advertising trade body that represents 3,000 brands, will meet Facebook on Friday to demand answers about how users’ data could have come into the hands of third parties for the purposes of political advertising without their consent. Sources close to ISBA told The Times that if Facebook’s response is unsatisfactory, then some of its advertisers who spend hundreds of millions of pounds a year on the social network may spend their money elsewhere.
The chief executive of agency network M&C Saatchi also weighed in highlighting that Facebook needs to radically reform its business. “I think that clients have come to a point, quite rightly, where enough is enough,” he said while adding that advertisers have the power to force change at Facebook.
MARKETING has reached out to what leaders in the industry thought about this.
Prashant Kumar, Senior Partner at ENTROPIA said that “Facebook has surely lost some trust, and they need to win back some of that by bringing a step change in the way their algorithms work. However the platform is already too important for the world to be deleted. Better regulation, yes. Deletion, no.”
Shao Ting, General Manager of Digital Trapper Interactive (Digital Division of Trapper Media Group) believes the issue which caused the movement is only the tip of an entire data privacy iceberg.
“However is a good starting point due to it’s scale of awareness, progressing to some better data mining practices and user consciousness. As for the trending movement, you can delete one or two this time but you can’t delete everything. Consumers are living in a world of data collection. Phones, browser, websites, apps, OS, smart home devices, wearables. While marketers still striving for deeper, microdata efficiency, data privacy and newsfeed integrity will be an on-going issue.”
So, will you be deleting Facebook? If you are, don’t just press the deactivate button, we’ve got the steps here.
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