If I had asked any of my schoolmates what an “algorithm” was, their eyes would have glazed over and they would probably have asked me what I had been smoking. Fast-forward a few decades and we’ve got the algorithmification of everything, including marketing.
Facebook Advertisers are brands that only accept recommendations from their agencies, but their agencies are telling them to bail on the social media network right now.
CMO, CEO and CSO — chief sanity officer. At first, it seems as though Ad Age’s Simon Dumenco is joking about brands needing chief sanity officers. But maybe he’s onto something. The pace of change is getting crazy for companies, to the point that project managers may want the sanity officer position filled, too.
New Facebook time management tools are coming “soon” for the main platform and Instagram and they’re expected to decrease the amount of time users spend on the apps, but increase “intentional, positive and inspiring” engagement, according to a Facebook Newsroom announcement yesterday. This better engagement could benefit marketers, too.
Tech stocks may tank today, largely due to Facebook’s below-expected-growth Q2 earnings report, and analysts are blaming the recent data debacle. Marketers who still don’t have a handle on data privacy may see this as a bellwether and get their houses in order.
Facebook was simply the poster boy for an uncomfortable data revolution well under way, but the hearings were very revealing. I am not sure how we will finally manage the complex issue of data privacy. However, it is clear what is not likely to happen in the near-term.