September 13, 2017 By FTI Consulting
It was only a matter of time before someone had to come in and police the Wild West of digital advertising, and some updates over the last week seem to show that time is now.
A major digital update came in the Russia-election-meddling story as Facebook revealed it had sold $100,000 worth of ads to a Kremlin-linked firm. Whoops! ¯\_(ツ)_/¯ The implications, though, could be far reaching for digital advertising. The tip of the iceberg is more support for regulating political advertising online, bringing the medium more in line with TV advertising with requirements to disclose where ad funds came from. The rest lurking under the water is what this could do to social networks’ coveted self-service ad markets, where pretty much anyone can go in and pay to sponsor/target any (SFW) post. This has been a boon to the networks and scrappier digital outfits that could come crashing down if verification requirements stretch outside of campaign financing regulations.
Elsewhere in digital influence-peddling, the Federal Trade Commission (FTC) is honing in on how it wants to hold influencers to account. This year has seen a number of scandals involving influencer marketing – or social media personalities pushing products, events or services – and the latest, involving a video game gambling website, prompted the FTC to release updated guidance. The guidance stresses the clarity with which influencers need to show that a product endorsement has been paid for, including language that in-app options to denote sponsorship may not be enough and that failure to adhere to the guidelines could result in charges.
If there was ever a story about a company that could find its way to light in spite of multiple hurricanes and a nuclear stand-off, it is a data breach that exposes sensitive information of around 143 million U.S. citizens. While we’re not going to go point-for-point on Equifax’s response, we will take the opportunity to offer some pointers on a digital response to a crisis.
Just in case we haven’t beaten this dead horse enough, I’m going to go ahead and offer a reminder, prompted by a new data from the Pew Research Center and Adobe Analytics this week, that social media are really important in understanding modern news consumption.
Pew’s latest study shows that a full 67 percent of U.S. adults find news on social media. Digging a little deeper, it was interesting to see which platforms they used. For example, around 73 percent of Twitter users, 68 percent of Facebook users and 66 percent of Reddit users claimed to use those respective channels for news. Meanwhile, only 24 percent of LinkedIn users, 27 percent of Instagram users and 31 percent of YouTube users reported using those platforms for news.
Adobe’s report corroborated these numbers, with Facebook, Twitter and Reddit as the top platforms for news consumption. Facebook was the most commonly used platform for young professionals and the 35+ bracket. Surprisingly, while Twitter was popular amongst young professionals, more users 35 years and older used Reddit for news.
Facebook Is Willing to Spend Big in Video Push WSJ
Twitter has an unlaunched tweetstorm feature TechCrunch
The print catalog era is over — but Facebook wants to revive it on your iPhone Business Insider
Snapchat’s newest media partners: college newspapers Mashable
Finally everybody is done monkeying around!
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