It's been well documented over the last few days the grilling in front of congress in regards to data breaches that Facebook's CEO Mark Zuckerberg has taken. But what does this all mean for those in the fitness industry?
There are thousands upon thousands of small business and fitness influencers who have relied upon Facebook for their organic or free reach (which appears to have been throttled by Facebook as of this recent news). This throttling of fan page reach has caused an influx of spend into the ad platform that Facebook provides as it leaves small business no other ways to reach other users. Don't get me wrong, it's hard to complain about a platform that everyone has been using for "FREE" for most of its existence yet it's still intriguing.
This influx of ad spend has driven up the price of traffic tremendously making it extremely expensive for the small business to be able to thrive in this space. Add to the fact that now some of the bigger players in the fitness industry are just now realizing how powerful the Facebook ads platform and are also finally dumping tons of money into the ads platform makes it an extremely competitive/expensive marketplace.
This Cambridge Analytica scandal (please google if you're not familiar by now) smells more to me of regulation than anything else. Another way the government will be regulating 'Freedom of Speech'. These senators don't seem to have a clue how Facebook ads works and is pretty comical to say the least.
What does this all mean for the fitness industry spedifically? Are you a gym? Are you a 'fitness expert'? You may have noticed some of the fallout from this scandal directly effecting your own business. I am definitely not advising jumping ship just yet from the Facebook ads platform as it can still be quite fruitful. With the outcome of all of all of the legal fallout still up in the air, you should definitely start exploring other media outlets. Finding the next platform of "under priced attention" will be key.
What are your thoughts? How has this affected you if any? Leave your comments below.