Asked the question “Given the Cambridge Analytica scandal and shake-up to business posts, will you continue to use Facebook as a marketing tool?”, more than two-thirds of the 403 respondents said that Facebook holds no future in their marketing plans.
A further 8 per cent admitted they are unsure, suggesting they are still evaluating the effectiveness of Facebook for their business before making a decision either way.
That left just 22.6 per cent committed to the social media network to market their business.
If every single one of Australia’s 2.1 million SMEs currently used Facebook and these results were replicated across the board, the network would stand to lose as many as 1.6 million business profiles.
Last month, digital marketing guru Adam Franklin told My Business that while “there is still some value in Facebook”, he is seeing a big shift with businesses moving away from using the platform.
“A lot of people move to LinkedIn, because the results are a lot better,” he said.
Facebook’s founder and CEO Mark Zuckerberg has previously denied Facebook has seen a “meaningful impact” from the privacy scandals that inspired the #deletefacebook campaign; however, he suggested the company is unable to measure any changes in the usage of its platform.
It comes as photo-sharing site Instagram has made a number of business-friendly changes in a bid to capitalise on Facebook’s woes, including the launch of an in-app shopping feature.