The best thing that ever happened to social media Click here was the hacking of the 2016 US election of Donal Trump by the Russians. Why? Because it laid bare what many in social media marketing has known for a long, long time: that social media platforms are a joke, their valuations are based on imaginary users, and their integrity lies somewhere between Lucifer and that guy who eats people’s faces in the movies.
For marketing consultants such as myself, recommending existing social platforms such as Facebook, Twitter, and Instagram has been increasingly difficult, because -quite frankly- many of us don’t trust the metrics.
The largest data management company in the world says it doesn’t really know if its numbers are accurate. Estimates? What marketing professional wants estimated results after the fact?
Let that sink in. Facebook is admitting that “approximately” 10% of its monthly active users are fake. Interestingly, they don’t mention what percentage of their daily active users are fake.
As marketers and advertisers, we pride ourselves on accuracy. In the olden times of marketing and advertising, we obsessed over rating numbers of tv shows, readership for print promotions, and delivery success rates for direct mail.
In all cases, the platforms of the day were heavily audited. You knew, with fair certainty, was the audiences were for any particular medium or channel because there was usually a point of review somewhere for the numbers.
Traditional media such as radio, TV, and print had been around long enough that there were thousands of case studies one could study the success or failures of individual campaigns. Because these mediums were part of the public record, it was easy to work backward to see what mix of media and budget worked and what didn’t.
As an industry, we could quickly establish benchmarks for success – not just based on our personal experiences- but in the collective experiences of very clear strategies laid bare for everyone to dissect.
The race to gain users became the driving force for social media platforms in a way that we’ve never seen before. Now, the obsession with user growth opened the door to advertising and marketing fraud on a scale that just wasn’t possible previously.
Let’s get something clear: any platform that allows for people to create thousands of fake profiles so others can buy likes, followers, retweets, or shares is toxic to advertisers and brands alike.
I don’t think I’ll get many arguments when I say that -regardless of what I think of them- the most successful social media platforms on the planet are also some of the most sophisticated technological enterprises on the planet. They have -arguably- some of the best AI around, as their entire business models revolve around being able to crunch numbers, facts, and obscure pieces of data millions of times a second.
If your company is valued on your number of users and the activity of those users on your platform, what do you care if they are fake or not? If you did, you’d hire an armada of auditors to ensure the integrity of your userbase. I don’t believe they ever did and will never do this.