When Facebook admitted (over and over) that it had screwed up the metrics on some of its ad measurements, the top-ranked social media site didn’t just raise doubts about its own network, stated Media Life magazine, it also sparked advertiser concerns about other social networking sites.
According to Media Life:
“Buyers began questioning their reliability, wondering if the numbers they’re seeing are correct, and worrying over how they could possibly find out for sure.
““I have been steering them away [from online] for the most part until problems are addressed,” one buyer recently told Media Life.
“That’s led to new measures by social sites desperate to prove they’re worthy of buyers’ investments. The big worry: That buyers will funnel dollars back to television or another traditional media if they don’t trust online.
“There’s already some evidence that’s happening, and social media doesn’t want it to become more prevalent.
“There’s a lot of money at stake: Advertisers spent $15.5 billion on social media this year, and that will double by 2021, according to Business Insider’s forecast.”
Social media sites are working to reassure advertisers and try to convince them to keep investing their money. You can check out what’s being done here.