Under fire over its handling of privacy issues, Facebook is looking for ways to appease critics, including brands. And it seems it’s getting success in its effort.
“Advertisers aren’t planning to pull money off Facebook,” says a report by CNBC.
Citing conversations with seven people involved in the advertising and media industry who work with Facebook, the report said “most advertisers are not planning to reduce their spend.”
The report however said some of these people requested anonymity.
Last week, Mark Zuckerberg sat with a joint Senate committee of more than 40 senators in the first of two congressional hearings.
However, according to another report by wired.com, his grilling by the Senate committee appears to have had minimal impact on its popularity among advertisers.
“There’s still a very positive outlook from the industry overall and the belief that Facebook will continue to be a trustworthy partner,” wired.com said quoting Angela Seits, director of social media and influencer marketing at the advertising agency PMG.
“A couple of my clients have actually shifted more money towards Facebook,” wired.com quoted Shuman Sahu, director of performance media at ad agency Nina Hale as saying.
Despite these, the backlash against Facebook continues causing the social media giants to review how it handles users’ data.
A couple of days back, the social media giant had launched a Data Abuse Bounty Programme, which will reward anyone who alerts Facebook to situations of apps collecting user information in concert with companies abusing that data.
“This programme will reward people with first-hand knowledge and proof of cases where a Facebook platform app collects and transfers people’s data to another party to be sold, stolen or used for scams or political influence. Just like the bug bounty program, we will reward based on the impact of each report. While there is no maximum, high impact bug reports have garnered as much as $40,000 for people who bring them to our attention,” says Collin Greene, Head of Product Security, Facebook.
“If we confirm data abuse, we will shut down the offending app and take legal action against the company selling or buying the data, if necessary,” he added.
James Pass, Managing Director, of Dubai-based branding agency JPd, tells GMR, “The Reward program itself is definitely will help Facebook to maintain their brand, allowing “people to help people” (something that is very in line with Facebook brand, connecting people, as was mentioned quite often by FB CEO in the recent hearing (about FB Data being Stolen)). So with this program they keep their brand trustworthy, and turn to people to help each other and keep online community safe.”
“It is reassuring brands to keep on using the platform for business purposes, as opposed to joining the ill-fated #DeleteFacebook campaign. Marketers will continue to see the FB platform as a trustworthy partner, seeing the steps they (FB) are taking with this program,” he adds.