Mark Cuban not happy about Facebook’s Promoted Posts feature
Let’s face it, with the amount of information that gets shared on Facebook, some posts get lost in the fray. Brands use Facebook as a major tool to communicate with their fans and for some messages to not reach their entire audience is a problem. Facebook has created a solution by creating “Promoted Posts” where “Promoted posts appear higher in news feed, so there’s a better chance your audience will see them”. Seems like a good idea right? Well there has been significant backlash from the social media community about the possibility of Facebook making money off of brand’s trying to reach their existing audience.
Last Friday, Dallas Mavericks owner, Mark Cuban, took to Twitter to disclose his anger with Facebook’s new promoted posts feature. Cuban proceeded to share information with his Twitter following about how much it would cost the Dallas Mavericks to use a promoted post to basically guarantee that a post would be seen by all of their fans. It’s shockingly expensive. It would cost the Mavs $3,ooo to reach between 1 million and 1.8 million of their 2.3 million fans for one post! One measly post and $3k to guarantee only HALF of their existing fans will see it. And that’s not even including promoted posts best feature which is to reach all of your fans plus their friends.
FB is blowing it ? This is the first step.. The Mavs are considering moving to Tumblr or to new Myspace as primary site twitter.com/mcuban/status/…
— Mark Cuban (@mcuban) October 27, 2012
It’s interesting that Cuban has threatened to move to Tumblr or MySpace in wake of these exorbitant fees. While these promoted posts are optional, it’s still a risky proposition on Facebook’s part given the usage and popularity of other social networking sites. This could be a major issue for brands and teams to reach their fans going forward.
What are your thoughts on Facebook charging extreme fees for a single promoted post?