Overview of Social Media Marketing:

Social media is an essential piece of your marketing strategy. Social platforms help us to connect with huge crowd, increase awareness, and boost your leads and sales. With more than three billion people around the world using social media every month, it’s no passing trend. It has become a major platform in showing authenticity, communicating authority and encouraging engagement. Advertisement in these social media channels is done by companies, political parties, service providers, and many more.

facebook used to top the social media platform in terms of ads

Social Media has rapidly grown in relevance as a forum for political advertisement in its different forms. Social media platforms, such as Twitter, Facebook and YouTube provide new ways to stimulate citizen engagement in political life, where elections and electoral campaigns have a central role. Personal communication via social media brings politicians and parties closer to their potential voters. But sometimes this turn out to be a scam and leads to lack of right guidance to the audience.

Current Heat-off:

Online social media platforms are now facing growing pressure to stop running political ads that show false or misleading claims ahead of the 2020 U.S. presidential election. Facebook is one of them and the company’s CEO is facing nightmares due to the upcoming elections. Mark Zuckerberg downgraded by $7.2 billion and moved one rank down to fourth place on the richest person criteria with Louis Vuitton chief Bernard Arnault now coming in third after some companies backed off advertising from Facebook Inc.’s network.

The companies which have boycotted promotion on the social media platform include Unilever till the end of this year. In addition, major brands like Verizon communication, Hershey’s which accounted for a large shared in the company’s revenue have also backed off. Meanwhile, Coca Cola has also announced pausing all its social media ads for 30 days. After this, the share-price drop eliminated $56 billion from Facebook’s market value and pushed Zuckerberg’s net worth down to $82.3 billion.

facebook revenue to go down in shares

The demands for boycotting Facebook have grown with rights group slamming the social media platform like Facebook for not taking effective action against hate speech, racist posts, paid political advertisements with hyper targeting users. This has led to misleading gullible people with fake viewpoints and speeches. The #StopHateForProfit campaign, which launched in the wake of Facebook’s decision not to take action on incendiary posts from President Donald Trump, is a movement which cannot be ignored by Facebook.

Facebook Ad Boycott Campaign to Go Global:

stop hate for profit campaign

The “Stop Hate for Profit” campaign will begin calling on major companies in Europe to join the boycott, Jim Steyer, Chief executive of Common Sense Media, said in an interview. The global companies will proceed as organisers continue to urge more US companies to participate.

Expanding the campaign outside the United States will take a bigger slice off of Facebook’s advertising revenue but is not likely to have major financial impact. Unilever, for instance, on Friday committed to pausing its U.S. spending on Facebook for the rest of the year. That only accounts for about 10% of its overall estimated $250 million it spends on Facebook advertising annually, as per the report.

Facebook’s response to the heat-off:

In response to that, Facebook stressed the steps it’s taken to protect its platform, including banning hundreds of white supremacist organizations and investing in artificial intelligence to find and crack down on harmful content. The company announced new measures and a change in its policy to deal with hate speech and voter suppression in the lead up to the 2020 US Presidential elections. Some of the reforms announced by the CEO are

Facebook stands for giving people a voice especially people who have previously not had as much voice or power to share their experiences by

  • Providing Authoritative Information on Voting During the Pandemic: Facebook will be creating a Voting Information Center to share authoritative information on how and when you can vote, including voter registration, voting by mail and early voting. They will be showing the Voting Information Center at the top of the Facebook and Instagram apps over the coming months. In the midst of Covid, they focused on preventing new forms of potential voter suppression. This way will help the people to have access to the authoritative information.
  • Additional Steps to Fight Voter Suppression: Facebook has tightened their policies to reflect the realities of the 2020 elections. Elections Operations Center are going to be used to quickly respond and remove false claims about polling conditions in the 72 hours leading into election day. They will partner with and rely on state election authorities to help determine the accuracy of information and what is potentially dangerous. All the tactical posts which discourage voting will be banned from the media. Many steps on the similar line will be taken to fight voter suppression.
  •  Creating a Higher Standard for Hateful Content in Ads: Facebook has invested heavily in both AI systems and human review teams so that 90% of the hate speech can be removed before anyone even reports it to us. There must be public interest in allowing a wider range of free expression in people’s posts than in paid ads. A wider category of hateful content in ads has been prohibited. They are also expanding their policies to better protect immigrants, migrants, refugees and asylum seekers from ads suggesting these groups are inferior or expressing contempt, dismissal or disgust directed at them.
  • Labeling Newsworthy Content: They will start labeling some of the content because it is deemed newsworthy, so people can know when this is the case. People will be allowed to share this content to condemn it, just like we do with other problematic content, because this is an important part of how we discuss what’s acceptable in our society but people will be warned that the content they’re sharing may violate our policies. Even if a politician or government official says it, if that content may lead to violence or deprive people of their right to vote, that content would be taken down. This shows that there won’t be any exceptions for the politician.

Facebook is making progress in the field of public health and racial justice while maintaining the democratic traditions around free expression and voting. Due to these steps, there might be changes in the plans of the companies who joined the movement to boycott Facebook. The upcoming week would be very crucial for Facebook as to know whether Companies would reinvest or not.