…but advertising around it has never been better.
Last week Facebook announced changes to its news feed. Essentially it will treat posts from friends and family different than posts from publishers.
The Wall Street Journal ran a reaction piece titled, “Marketers Say Facebook’s News Feed Update Will Be ‘Nail in the Coffin’ for Organic Posts.” The subheadline read, “Prioritizing posts from friends that generate engagement will reduce the reach of brands’ unpaid posts and may raise ad prices.”
A month ago I wrote a piece for Adweek titled, “Social Media Is Dead… Long Live Social Advertising.” The subhead was, “Opinion: The final nail in the coffin may have been Snapchat’s redesign.”
Now I’m not trying to say I called it. In fact, it was probably premature to declare social DOA until Facebook took more definitive steps such as those it just announced.
Regardless, as we predicted in our latest Future of Media whitepaper, 2018 will be the year that “Social platforms will live — or die — based on how well they can deliver the experiences that audiences want from them.”
As for brands, now more than ever, paid advertising is the only sure way to effectively engage your audiences across these platforms.
For what it’s worth, overall ad spend through 4C increased 28% quarter-over-quarter (QoQ) and 54% year-over-year (YoY) in Q4 so it’s clear marketers are getting the memo.
As for the industry at large, it may finally be time to answer yes to the question I asked back in October, “Should we stop calling social media platforms ‘social?”
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