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The number of advertisers supporting a temporary boycott of advertising on Facebook and onwards is growing with big names like Microsoft, Starbucks, Ford and Clorox getting on board.
Media buyers said companies including Amazon, TV networks, and TikTok stand to be the biggest beneficiaries of the boycott as brands look for places to park their dollars.
Still, many brands are struggling as their sales have been crushed by the coronavirus and are not ready to leave Facebook.
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The momentum around quitting Facebook is gaining steam with a growing number of advertisers like Starbucks, Microsoft, Ford, and Procter & Gamble’s Clorox said they would halt their spending there.

Facebook is facing pressure for how hate speech and toxic content spreads on its platform, leading civil rights groups to call for an ad boycott.

The stakes vary wildly for brands. According to data from research and analytics firm Pathmatics, Starbucks has spent an estimated $18.9 million on Facebook ads in the US this year so far to Coca-Cola’s $1.8 million.

Facebook leaders have set up phone calls, sent emails urging advertisers to not pull their money, and promised to submit to audits.

But agency executives say advertisers now plan to reallocate their Facebook dollars elsewhere. North Face, for one, said it would redirect spend to Google and Pinterest, among others.

“What we’ve been telling clients is that it’s a little hypocritical if you boycott and subscribe to these demands, these demands are not fully met, and then you continue to advertise in August,” said Barry Lowenthal, CEO of The Media Kitchen. “It’s more pragmatic to help clients figure out an alternative strategy.”

“This almost gives almost any brand or agency license to break out out of the cycle that exists with the very well-established duopoly in advertising,” …read more

Source:: Business Insider

      

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