Does your automotive dealership utilize Facebook advertising as a way to connect with potential car buyers in your local area? Then the news that the Partner Categories tool is going the way of the dodo should definitely be on your radar.
As Sam Schechner and Nick Kostov of The Wall Street Journal report, the growing outcry and public concern over inappropriate data harvesting, along with the strict rules set forth by the European Union's (EU) General Data Protection Regulation (GDPR), forced the world's largest social network to rethink its stance on third-party data collection and shut down the corresponding Partner Categories product in Germany, France, and the United Kingdom (U.K.) back in May.
Today, though, Facebook has gone a step further and announced that this tool, fueled by powerful outsider data brokers (like the notorious folks over at Cambridge Analytica), will stop showing ads to targeted consumers around the globe by October 1st. After this point, advertisers will only have access to their own data or consumer insights provided by Facebook via its social media platform.
Naturally, this is a move that will send shockwaves throughout the online advertising community - and potentially set a new precedent for Google and other purveyors of similar ad networks. Even if this move doesn't alter the online advertising landscape that exists outside of the walls of Facebook's headquarters in Menlo Park, the change definitely has many power users of this advertising platform scrambling for solutions to the impending lack of third-party data that is now waiting just around the bend.
Does your dealership need to rethink its approach to advertising on Facebook? How will contemporaries of this social giant react, and will this move help quell unrest surrounding Facebook's previous lack of data privacy and consumer protections? To dig into all of these important topics, and learn a little more about how Facebook is attempting to rework its stance in the world of digital advertising, go ahead and check out the complete breakdown of this blockbuster announcement by clicking on the link we've provided down below.