The Cambridge Analytica breach of confidentiality that surfaced in March is more than a PR challenge for Facebook and Mark Zuckerberg, it has forced marketers to weigh their options – pull out or continue to leverage Facebook’s strength in targeting consumers with relevant advertising where they live amongst friends and family.
While some major marketers have felt compelled to kill their ad spending on Facebook and to disassociate with the social media platform accused of mishandling people’s privacy, most advertisers across the board are more likely to keep buying there. They’re giving the social network the benefit of the doubt and trusting it to do the right thing regarding privacy.
While privacy is important, it is well known to Facebook fans that their personal information is being used to target ads to them. Many Facebook users like the ads because they are more relevant to their life needs than ads from traditional media.
With nearly $2 billion active users worldwide, Facebook offers the most advanced lifestyle targeting among all the social media platforms. And many will argue it is the best among all advertising media. Its relatively low cost and interest-based targeting have made it a juggernaut in the advertising world, producing more than $40 billion in annual revenue at an annual growth rate of more than 20%.
While Facebook claims it will remove ad-targeting options that rely on data from outside companies, it doesn’t really need other data brokers. Because it can mine its own internal data, Facebook is a very valuable targeting source for advertisers even without the third-party data broker connections.
For the foreseeable future, Facebook will remain so powerful that even marketers that might rather step away would be hard-pressed to find a better alternative.
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Client Spotlight: Hirsch Pipe & Supply
We’re excited to have Hirsch Pipe & Supply Company join the Young Company family. Hirsch Pipe & Supply is a wholesale distributor of plumbing supplies with 20 locations serving the greater Los Angeles, Orange and San Diego counties. In addition to distributing to local plumbers, Hirsch Pipe & Supply has a national and international sales team which services contractors and other wholesalers throughout the U.S. and the Pacific Rim. The company has an amazing program that rewards customers’ loyalty for continued business with once in a lifetime vacations. This year their top 300 customers are going to Sydney, Australia. Welcome, Hirsch!
Employee Spotlight: Evan Garcia
Evan Garcia joined Young Company only a few weeks ago, but she has become an integral part of our team serving as an Account Coordinator. An Orange County native, Evan attended Loyola University Chicago, where she recieved her Bachelor of Arts in Advertising and Public Relations and a minor in Spanish. While in Chicago, Evan was an executive member of Loyola’s Advertising Club for three semesters. She also interned for Wagstaff Worldwide, where she wrote media pitches, researched public relations opportunities, and created monthly client reports for local restaurants. In her free time, Evan enjoys reading and baking. We’re not only excited to have a talented account coordinator, but also a baker whose specialties include chocolate chip cookies and apple pie!