Dallas Mavericks owner Mark Cuban has a plan to fix Facebook.
Cuban thinks the social network’s promotion feature for businesses isn’t a good thing, and he isn’t alone. Last month Facebook wanted to charge Cuban $3,000 to reach one million people via a promoted post, he said.
His anger comes as a result of changes to Facebook’s EdgeRank algorithm, which have taken place throughout 2012 for brands. EdgeRank controls which Facebook posts are seen by most fans in their news feeds. In general, only a small minority of posts are seen by all fans; Edgerank discriminates in favour of engaging posts and against spam posts.
Cuban isn’t just complaining. He’s offering solutions too, he said:
Facebook could easily reduce the impact of the problem by offering date and liked page filters for users to be able to find what they want and make sure they haven’t missed anything of interest to them.
This was the first time Cuban noticed the promotion feature after one of his employees asked for permission to run a sponsored post. Coincidentally, Facebook changed its promotion algorithm for normal users in September but nothing has changed for brands.
In a tweet almost two weeks ago, Cuban wrote:
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
Yesterday, ReadWrite quoted Cuban saying, the Mavericks “are moving far more aggressively into Twitter and reducing any and all emphasis on Facebook.” This doesn’t mean that Cuban will abandon Facebook instead he says, “we will still use [Facebook], but our priority is to add followers that our brands can reach on non-Facebook platforms first.”
Cuban told Business Insider:
In the past we thought we were creating a value opportunity by encouraging fans to Like our brand pages. While there is still value, because of the costs and the way posts are cycled through FB users news feeds, both the like and post have diminished in value.
Facebook has denied it is “gaming” the system against advertisers by requiring them to pay to reach all their fans.
While Cuban isn’t leaving Facebook, he recognises that each medium has its own strength and weaknesses. With Twitter and other social networks there is no guarantee that everyone sees what is posted but, “the opportunity is not diminished by an algorithm”:
We are not leaving FB, but this has made us change the balance in how we manage our social media portfolio. We have de emphasised getting “likes” and increased our emphasis on engagement on Twitter, WordPress, Tumblr, the New Myspace, Pinterest and others.
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