GM Says Facebook Ads Don't Work, Pulls $10 Million Account

^^ that's my whole point.

People expect some ennormous, instantaneous results, as if like FB(social media) is some kind of a magic wand that just brings enormous amounts of business your way.

It probably is all the hype blogs and agencies put up.

"social media marketing"

"engagement"

People think that it's easy, you just throw a few bucks on FB ads and your business doubles up.

Well guess what, there are ad agencies for a reason. And those agencies charge a hell a lot of money to bring you more business. Do you really believe some pizza guy knows how to buy media? How to write copy? How to rengage and remarket? Come on...

Don't blame the traffic source because some people can't use it and some other people have unrealistic expectations/poor agencies.

It's like some doctor complaining he can't assemble a TV. "BUT I BOUGHT THE PARTS. TVs are just hyped up bullshit. Yeah, that must be it".
 


momchil9 said:
^^ that's my whole point.

People expect some ennormous, instantaneous results, as if like FB(social media) is some kind of a magic wand that just brings enormous amounts of business your way.

It probably is all the hype blogs and agencies put up.

"social media marketing"

"engagement"

People think that it's easy, you just throw a few bucks on FB ads and your business doubles up.

Well guess what, there are ad agencies for a reason. And those agencies charge a hell a lot of money to bring you more business. Do you really believe some pizza guy knows how to buy media? How to write copy? How to rengage and remarket? Come on...

Don't blame the traffic source because some people can't use it and some other people have unrealistic expectations/poor agencies.

It's like some doctor complaining he can't assemble a TV. "BUT I BOUGHT THE PARTS. TVs are just hyped up bullshit. Yeah, that must be it".
Click to expand...

All of this, not to mention that the guy is incredibly short-sighted, he gained one customer that will hopefully become a lifetime customer, tell all his friends how great the place is, hopefully share future fanpage posts (if they manage to put up something engaging). That customer might very well be worth $240 on his own
 
momchil9 said:
People think that it's easy, you just throw a few bucks on FB ads and your business doubles up.
Click to expand...
That would be some solution, wouldn't it?

Problem is, what kind of small time advertiser is going to double down on returns like Delicious Pizza just experienced?

Traditionally the auto industry is the number one advertiser in terms of ad spend. Apparently GM is about as happy as Delicious Pizza ... that's quite telling.

A year ago, whispers of a $50 billion from Goldman. A few months ago $65B, then $85B, then this past week - $100 billion.

$4 billion in revenue, so they're valuating this company at 25 times operating revenue ... which is nuts, especially since the source of Facebook's revenues, advertisers themselves, have yet to be enthralled, if not turned off entirely by Facebook.

Get that money, MZ.
 
Facebook is only good for specific kind of advertisers. Some of you guys know what I mean. As for GM, it's so obvious why it's not going to work for them.
 
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