Today, the current social media market is saturated, if not oversaturated, with hundreds of platforms – some more successful than others (ahem, Facebook and Instagram). What these platforms have in common is that they receive (more so exploit!) an abundant amount of data from their users (AKA YOU 🙃)! In 2017, 90% of the total data in the world was created in a span of two years between 2015 and 2016 – with today’s current output at more than 2.5 quintillion bytes a day.
While there are those that consider their access to social media accounts to be “free,” the reality is that everything comes at a cost. Some users are more naïve and choose to trust that their data will remain private and secure, but most understand the harsh reality of social media’s costs.
Cambridge Analytica and Facebook
As you may already know, Facebook is no stranger to controversy. In late March, Cambridge Analytica used personal information harvested from up to 87 million Facebook profiles without permission to build a system that could target US voters with personalized political advertisements based on their psychological profile.
During the breach, Cambridge Analytica compromised data from a personality quiz that was never intended to be shared publicly. The quiz was created in 2014 and paid 270,000 individuals to take it. After receiving data on individuals’ interests, political affiliations, relationships, photos, locations, and other miscellaneous data, Cambridge Analytica created psychological profiles of the subjects. While data harvesting and breach should be enough to outrage people, the “cherry on top” was that for particular political campaigns, the data was detailed enough to create a profile that suggested what kind of advertisement would be most effective to persuade particular individuals in particular locations for political events.
In light of this controversy, only 41% of consumers in the U.S. and Germany trust Facebook with their information as many users now realize that the use of social media platforms is not free. They pay with their data. However, the fact of the matter is that the business model of social media platforms is to monetize your data, and because of this, they’re unwilling to sacrifice your satisfaction for data.
Pinmo on Transforming the Social Media Market
With social media platforms very unlikely to change their business model, your data and information are the ones that get compromised in the situation.
Social network platforms like Facebook, Instagram, and YouTube are benefitting off of your personal data that should be secure and using that to their advantage. These businesses are reaping all the benefits and not sharing any of those with you.
Pinmo is the first incentivized content platform that’s integrated across multiple social media networks, designed and developed using the latest targeting AI algorithm. Pinmo adds you back into the equation, allowing and encouraging you to have the power to monetize your own data. Large corporations shouldn’t be the only ones who can monetize your data and Pinmo understands that. Through Pinmo’s platform, you can share content on your WeChat Moments and Facebook.
Pinmo empowers you with the ability to monetize your own data, which you already own. These are actions you already do every day and do anyway, so why aren’t you getting involved?
Join the Pinmo network today.