Mediaweek has published an article describing Facebook as being forgiven by advertisers. This is definitely good for Facebook even though some people are up in arms over privacy policies being blatently violated. According to the article, “Buyers say they are generally satisfied with the way Facebook has responded to the recent storm of controversy generated by Beacon.” Apparently it wasn’t as big of a PR disaster as many bloggers made it out to be.
Not only was it not a disaster but “many buyers credit Facebook for its willingness to be daring in this still-nascent space, where the rules of advertising are still being written.” Mike Shields, author of the Mediaweek article, spoke with a number of advertisers and it appears that the backlash against Facebook may have been overblown. This is why this morning I suggested that Facebook’s decision to let users completely opt-out of the service may have been a poor business decision.
Regardless, Facebook has a ton of momentum and is still only at the early phase of their growth. Facebook would be in the tornado phase as described by Geoffrey Moore in the book, “Chrossing the Chasm.” As such, advertisers are going to want to get a piece of the action and a little slip up by Facebook is not going to stop them. Brands will definitely be hesitant though when joining the new Beacon program. Do you think the drama surrounding Beacon is over or is will it soon flare up again?
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