This article explains why large corporations have stopped advertising on Facebook and how the bid is the impact of this boycott going to be. Continue reading if you are a business that wants to use Facebook ads to get more engagement and sales.
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All the Companies Quitting Facebook
“The advertiser boycott of Facebook has morphed into a global digital activist campaign aimed at curbing hateful and toxic content on the social media giant. But its impact remains unclear.” Wrote the Bangkok Post a few days ago.
It is not just about Facebook but Facebook has become the most hit due to recent social media advertising boycott. Actually, large and medium corporations have started to boycott social media companies due to hate speech violations.
Why Companies Started Boycotting Social Media?
Stop Hate for Profit is an advocacy group that is striving to stop hate speech online these days. Until recently, this advocacy group called for a complete boycott of social media advertising because social media companies are not doing enough to deal with hate speech.
This organization is keeping a running list of participating companies. The list of companies that have started to boycott social media advertising is growing and heavyweight corporations have also joined the boycott over the past few days.
More than 200 firms have stopped advertising on the world’s leading social networking websites such as Twitter, Facebook, and Instagram (owned by Facebook). The list of organizations that have stopped advertising on Facebook is growing day by day with no end in sight.
Why Large Corporations Have Joined the Boycott?
Here are some notable organizations that have boycotted social media advertisement for a short to a long time: Starbucks, Proctor and Gamble, Diageo, Levi Strauss, Honda America, Patagonia, Coca-Cola, Colgate-Palmolive, Mozilla, Reebok, Unilever, Upwork, Verizon, Viber, Adidas, and the list goes on.
There is something different about global corporations such as Coca Cola, Honda, Viber, and Unilever. These organizations are present in all world regions and they care about the values of peoples from all over the world. Due to this reason, they do not want to tolerate the defamation of any race or view.
More than 200 firms are pausing advertising on the world’s leading social networking websites. This boycott has wiped out billions in different social networking websites’ market value. About $50 billion reductions in Facebook’s market value occurred amid boycott a partial bounce-back occurred on Monday.
In What Direction This Campaign is Heading?
This is what we see when we browse the website of Stop Hate for Profit campaign.
“Let’s send Facebook a powerful message: Your profits will never be worth promoting hate, bigotry, racism, antisemitism and violence.” Adds Stop Hate for Profit campaign’s website. More and more people and businesses are joining them.
What You Should Do As A Business In All This?
You do not necessarily has to be a part of this campaign if you are also against hate speech. You have read why small to medium to large corporations have started boycotting Facebook ads in recent weeks. This boycott has hit large social media companies such as Facebook and Twitter hard. This boycott is growing day by day but this should end as soon as possible.
This process was just to show all of us the way to deal with each other in the future. We should respect each other’s views, creed, belief, and ethnicity. Social media giants also need to understand this. In the end, we can say that Facebook ads are important for businesses and they will be alright in the coming weeks. If you are a business, you should try them.
I wish you all the best with your business growth goals and social media advertising goals.