Don't give up on Facebook advertising yet.
Yes, some real estate agents and other professionals are ready to throw in the advertising towel now that Facebook Founder & CEO Mark Zuckerberg announced the network will make significant changes to ensure users have more “meaningful social interactions” with trusted brands and users.
But that may not be as bad as real estate agents fear.
“The important distinction is that we’re not actually deciding what is trusted and what is not—we’re asking our community to decide,” Facebook Executive Adam Mosseri told The Wall Street Journal. “We are asking people what they trust and what they don’t trust and acting on that data—as opposed to us deciding.”
But many ask why the changes?
In fairness, analysts note Zuckerberg had to take action. There has been backlash against the site for providing a platform for cyberbullying and what many call “fabricated news articles and misinformation” especially since the 2016 presidential election.
The result is a decrease in Facebook’s appeal and reputation. News agencies believe the changes Zuckerberg announced could bring several positives. It will likely lessen low-quality content (e.g. click bait) and help Facebook regain trust and upward popularity. And it may prompt Millennials to return to the site, noted InvestorWatch.
Of course real estate agents rightfully fret that the platform’s changes will significantly increase advertising rates, and make it more difficult to reach quality leads.
But that hasn’t happened yet and may not happen. And if it does it may be worth the money.
Let me be clear, we don’t know how these changes will impact advertisers, including real estate agents. But it might allow higher quality brands, advertisers and news to rise to the top of users’ feed. And that may increase users attraction to Facebook, making it more valuable than ever.