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WARNING-Facebook Ads may be bad for business

By: Tyler Glen
Posted: June 26, 2020 05:19

Westman businesses are re-evaluating advertising strategy as the world's biggest brands stampede for the exits on Facebook.


Are big brands leaving Facebook?

Westman businesses may have Facebook advertising in their ad mix, but many are re-thinking that strategy in light of the major movement underway online, as the world’s biggest brands turn their back on the social media giant.  The movement underway dovetails from the current environment of self-reflection and honest discussion surrounding brands, statues, and now, social media platforms.  The movement is called #StopHateForProfit.  If you’ve ever come across fake news, conspiracy-mongering, and posts that border on hate speech, you may understand what is happening with this movement.   Facebook has yet to comment on all the brands leaving, but has discussed previous ad boycotts.  Carolyn Everson, VP Global Business Group Facebook, said in a statement to CNN Business: "We deeply respect any brand's decision and remain focused on the important work of removing hate speech and providing critical voting information. Our conversations with marketers and civil rights organizations are about how, together, we can be a force for good."  The Wall Street Journal says that Facebook held a conference call Tuesday to contain the boycott by persuading more big-name advertisers not to pull ads as some are beginning to seriously consider it.  Verizon Wireless, Eddie Bauer, the U.S. clothing store chain, and Ben & Jerry's, the ice cream maker became the latest companies to jump on board, joining The North Face, Patagonia, REI, Mozilla and Upwork in addition to about 100 smaller companies said to be committed.  As the list continues to grow, it may be a story that businesses big and small watch closely.  As our world continues to change day to day. 

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