Bad news for ICO marketers – Facebook has banned ads for all things ICO and cryptocurrencies.
Yes, you heard it. From January 30, 2018, Facebook introduces “a new policy that prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency.”
The main reason are the user complaints about the spammy ICO ads. Out of 2+ billion Facebook users, not many are crypto-savvy enough to detect ICO scams and, apparently, users often fall for fraudulent ads. As Facebook explains, there are too many crypto projects “that are not currently operating in good faith.”
What can we learn from it
- The first and foremost – read through the new policy, revisit and change your paid social campaigns if needed. There is a handy guidance with examples of ads that Facebook bans now – check below if it sounds anything like yours and stop such promotions immediately.
- However, it’s not quite clear yet if the ban is applicable to boosting non-CTA posts on crypto-related pages, for example, market updates or thought leadership. Hopefully, we’ll see more clarification from Facebook. Meanwhile, stretch your creative muscles and think of how to drive engagement through a quality content and worthy product.