Facebook’s philosophy is that society is in an age of information exhibitionism. In their view, people are not concerned with their information being shared. It is a time of openness and transparency. Per Facebook’s own terms of service, Facebook is paid by allowing advertisers to show users ads. The social network provides advertisers information on ad performance and interaction. Facebook also provides advertisers demographics and interest information of viewers. Information is what Facebook sells, so users do not have legitimate claims on privacy. When a user registers for an account, they need to agree to the terms of service. Facebook’s terms of service are clear that they will sell a user’s data. Users agree to give Facebook their name, their profile picture, and information.
Facebook has changed its privacy settings. They did so because of the Cambridge Analytica Scandal. Cambridge Analytica bought 87 million Facebook user data. This information assisted Donald Trump and Ted Cruz in their election campaigns. The data was also used by Brexit supporters to manipulate Facebook users. The data was gathered through a Facebook app called “this is your digital life.” Facebook has since suspended Cambridge Analytica. Facebook has ended partnerships with advertising data brokers.
Facebook has not changed what data they collect. They did make it easier for users to access and control their data being sold. Facebook redesigned its privacy settings from 30 locations to 1 location. The change was designed to make it more initiative and easier to navigate. One of the privacy settings is deleting old posts and pictures. Users can also delete old comments and likes. This information is sold to advertisers so they can tailor ads. Changing these settings will change what ads a user sees. Changing user settings with move people to different demographics. Old irrelevant data will not be used as true data about a user. Adjusting the privacy settings will also limit how someone can contact another user.
Internet media advertisement has changed. More people use smartphones than personal computers. It is a struggle for any company to get the attention of consumers. Companies need to find unique solutions. Companies also need to rethink their metrics to capitalize on hidden opportunities. A new type of advertisement firm is needed. One that specializes in e-commerce and social media. iProspect is this kind of advertisement firm.
iProspect is a global-wide digital-first end-to-end advertisement agency. iProspect focuses on SEO optimization, paid search engine ads, and mobile marketing. Companies submit their big data to iProspect. iProspect estimates the potential Return on Investment. Then iProspect implements their social media and internet campaign to drive sales. iProspect has a wide range of clients. Some of their clientele includes GM, Hilton Hotels, Neiman Marcus, and T-Mobile. The company has a history of revenue improvement.
Adidas hired iProspect to measure their data. The data determine how much search traffic resulted in a visit to a brick-and-mortar store. Adidas wanted to know how much revenue was gained from search clicks. iProspect estimated that 1 in 5 clicks resulted in a visit to a store. Out of that, only 13% of the physical traffic resulted in a sale. Each sale averaged 71 dollars in revenue. If iProspect can increase visitors from 13 percent to 20, revenue would increase. The average sale would be 80 dollars. Each click would have a value of 3.20 dollars in revenue. The Return on Investment, by using iProspect, would be 680 percent. It would behoove Adidas to use iProspect to increase their online presence.
Metrics and data are vital in a connected internet society. How people shop has changed. It is as important to have a strong web presence as well as a physical store. Companies like iProspect are there to capitalize on the internet frontier.