Stop Hate

stophateforprofit

Where do you stand on the “Stop Hate for Profit” campaign? In June we started a discussion on this topic in our Facebook Community, The Brand Network. *

Organisers of a Facebook Inc advertising boycott campaign that has drawn support from a rapidly  expanding list of major companies are now preparing to take the battle global to increase pressure on the social media company to remove hate speech.

Brands need a well defined definition on ‘hate speech’. It’s not enough to know what you stand for as a brand — you have to clearly know what you stand against and make decisions at the intersection of the two. Passive brands and their leadership teams will find themselves moved aside.

On Friday 26th June Facebook, who have a loose definition on this matter, took a hit when Unilever pulled its advertising. Not just for July, but for the remainder of 2020. This immediately caused an 8.3% decline in Facebook’s stock price, which is equivalent to wiping out $56 billion in market capitalization.

“While Facebook is being demonized, let’s keep in mind who’s funding all this sordid activity — it’s the ad industry. It is the money we keep pouring into Facebook that makes all this sleaze possible. If we had an ounce of responsibility, we would say ‘no more.’ But, of course, we don’t. We just hide behind Facebook’s skirts and let them take the hits.” – said Bob Hoffman in 2018 (Chief Aggravation Officer, making marketers uncomfortable since 2013), who has been sounding the alarm on Facebook for years.

Some of the world’s top brands are no longer hiding.

And with major brands like Patagonia, Honda, Verizon, Starbucks, Coca-Cola and Levi’s joining the boycott, they may begin to exert pressure on other brands to do the same. These larger brands account for more than a quarter of Facebook’s $70B ad revenue.

So, have you decided yet? Where do you stand on the “Stop Hate for Profit” campaign?

 

*  We manage a number of different social media channels. The Brand Network on Facebook is just one way you can follow our discussions, contribute to our thinking, and be socially active with us. Go on, you know you want to. Find out more on our Thinking Conversation here.

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