Some advertisers are moving ad dollars away from Facebook

Direct-to-consumer (DTC) advertisers are increasingly looking to diversify away from Facebook, reports Digiday.

What’s the background?

Advertiser requests to move spending from Facebook to other platforms have picked up after problems with Facebook Ad Manager emerged this summer, media buyers say. A technical glitch in Facebook’s Conversion Lift tool went unnoticed for more than a year, the company recently admitted.

Another reason for the migration is cost – buyers say CPMs on Facebook have been between $14-$17 in recent months, compared to between $3-$5 on Snapchat or TikTok.

So far, anything between 10–30% of ad spend is being moved, on average, from Facebook to other platforms. This is forecast to grow, say buyers, as diversification is now baked into 2021 media plans.

Key quote

“Diversification away from Facebook is the biggest conversation I’m having,” said Jeromy Sonne, managing director of Moonshine Marketing. “While it’s still the biggest and everyone will still use it, brands no longer trust it enough to go all in on Facebook.”

Sourced from Digiday