Following a brief interview earlier this month with T3’s Director of Connections, Angela Yang, eMarketer has released a full conversation and analysis on the impact that the Cambridge Analytica/Facebook scandal had on marketing and data sharing.
As eMarketer explains, the primary issue advertisers have moving forward is adjusting to the changes in Facebook’s targeting capabilities as a result of GDPR and the wave of privacy updates. Now that third-party data is not accessible to marketers via Facebook, marketers must find a way to adapt and harvest data from other sources. This will mean conducting primary research, purchasing data from third-party data firms, or using Facebook’s first-party data, but it’s important to keep in mind that Facebook’s first-party data will flux depending on the quantity of users that decide to keep open privacy settings. To put it into perspective, a week after the Facebook scandal broke, trust in privacy protection dropped by over 50%.
It’s no surprise that companies as large as Facebook can create such a disruption in marketing practices and sourcing data. The consequent shift in the accessibility of user data pushes marketers and agencies to “develop new workflows and procedures for everything from the use and management of custom audience lists, to the ownership of relationships with third-party data suppliers.” The ability to adapt and veer to alternate media outlets and data sources efficiently will be crucial moving forward. This has renewed interest among advertisers in a broader selection of social mediums including Twitter, Snapchat, and even Pinterest and online retail giant, Amazon.
If any good has come from this, it is the emphasis on the need to look at the whole social media environment as opposed to a few select outlets. As Yang mentions, “We’re looking to other platforms that are trying to make up some ground with what credibility may have been lost with Facebook. It’s not something tangible that I can tell you from a metrics standpoint, but the overall feeling is, ‘All this is happening with Facebook. Now what? How are we thinking beyond just the platform itself?’ That is a feeling as we plan for the rest of the quarters in the year.”