Algorithms. Fake news. Ad spend. Hopefully, you’ve heard the buzz about yet another Facebook algorithm change, one that shows you fewer posts from advertisers, businesses and media. It’s really started to show its effects over the past few weeks.
For example, it’s being reported that Facebook’s ad costs are on the rise – bigtime. AdStage found that cost per thousand ad impressions (CPM) increased 122% year-over-year in January. Further, Facebook’s ad revenue isn’t slowing down anytime soon.
I’m pretty much convinced that this is what Zuck had in mind all along when he announced the latest algorithm change back in January. After all, the harder it is for brands to get in front of consumers on social, the more money they’ll likely spend to do it (at least those with big budgets). Zuck has emphasized that the new algorithm promotes more meaningful interactions between friends, so luckily, there is another way for brands to continue connecting with fans: create more content that is meaningful to them.
For example, we recently implemented a campaign for a juvenile products client that was a serious strategy shift for the brand. Whereas its social content used to drive fans to buy products, this campaign shared funny, relatable quotes about parenting and encouraged responses from fans. We incentivized them with a sweepstakes, but even posts without a giveaway attached to them garnered significantly more engagement. And, organic reach has never been higher.
Still, the new algorithm goes beyond businesses, despite what Facebook might lead you to believe. We’ve also heard from influencers that their posts on Facebook (and even Instagram, which follows a likes-based algorithm) aren’t getting as much engagement as they used to. Or, that post engagement is fluctuating more than ever.
So, it’s not only brands and agencies that are unhappy with Facebook and considering jumping ship for other platforms. It’s influencers, publishers and consumers. Let’s just be grateful it’s not going to be to Vero.
With that, who else would love to see Facebook and Instagram bring back chronological timelines? Vote in our Instagram Story poll now!