Facebook Could Lose $23 Billion After Revealing News Feed Change
16 January, 2018, 00:48 | Author: Abraham Jackson
Manu Facebookusers have complained about the media content that prevented them from connecting more with one another.
Now, with Facebook changing its news feed to emphasize posts from friends and family, rather than those from media and brands, publishers face a new challenge to the world to which they most recently adapted.
Facebook plans a cull of posts from brands and businesses so users spend less time on the service.
Although Facebook doesn't say this is the reason for the change, it's not hard to imagine that what happened in 2016 helped shape the upcoming News Feed.
This may only fit into the business models of some publishers, but we could see them starting to offer paid social options in their media packs to provide brands the reach they desire. In an effort to usher in this new mood of online pleasantness, its product teams will drop the former goal of helping people find "relevant content" as they test the "meaningful interactions" thesis. People will likely spend less time on Facebook as a result, the company says.
The news feed isn't the only destination for marketers to advertise on Facebook. "We believe these changes will be beneficial to Facebook in the medium and long term", said Brian Weiser of the Pivotal Research Group.
It likely will end - or at least reduce the effectiveness of - the common tactic of throwing every article up on the publisher's Facebook wall to see what sticks.
Mark Zuckerberrg has announced a focus on News Feeds to highlight posts from friends and family, with less emphasis on news sites and other pages of interest.
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"In response to all the recent changes from Facebook, publishers are doubling down on channels they can more directly influence such as direct, referral and email".
"By making these changes, I expect the time people spend on Facebook and some measures of engagement will go down". It remains to be seen if the quality of Facebook time improves or not, but there are many other concerns related to social media in the broader context which need to be addressed.
Publishers and media will now need to "play into" Facebook'snew mission, by creating content that generates what the new algorithm deems a "conversation generating". Meanwhile, passive consumption of articles and videos made them just feel bad.
Goh Theng Kiat, CMO of OCBC Bank said the move was a positive one by Facebook for the consumer.
Press Association analysis of data from social media analytics company Newswhip revealed a huge fall in engagements - a combination of reactions, comments and shares - for numerous UK's biggest news websites towards the end of 2017. He admits that he expects publishers to react with "a certain amount of scrutiny and anxiety", but didn't have many concrete answers about how publishers should scramble to react beyond "experimenting. and seeing...what content gets more comments, more likes, more reshares".
Facebook's stated objective of its recalibration is to bring people together.
How will you be changing yourFacebook strategy, PR Daily readers?
Facebook prioritised all things local and community-based earlier this year, so it won't come as a surprise that it's going to start surfacing those little boxes that have begun popping up requesting advice and recommendations.
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