As brands take a stand against Facebook and other social platforms, where are they moving those budgets?
There are some brands, and some consumers, that wish that Facebook would disappear. They at least hope the #StopHateforProfit boycott by over 1,000 brands significantly impacts the platform. 40% of consumers now pointedly support the boycotting brands.
In the first quarter of 2020, Facebook’s ad revenue was $17.44 billion. It remains to be seen how the boycott will impact Facebook in the long term, or how long brands will stick with it.
Where Should the Money Go?
The Drum took a fun look at how this quarterly ad revenue could be repurposed away from Facebook, from sending rockets into space to wiping out hunger in Africa.
In reality, brands will put the money they were spending at Facebook in a variety of other marketing and advertising initiatives. Patrick Johnson, chief executive and chairman of digital ad agency Hybrid Theory, thinks there are much better options than social media.
In fact, he says that social platforms “often provide little to no control over what [brand’s] advertising will appear next to.”
“[Brands] will instead prioritize channels that give them control of the ad, its context and where they can carefully target the right audiences,” Johnson said.
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Originally published at https://www.bluebite.com.