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Thursday, June 7, 2012

Facebook Lost Its Key Advertiser

Facebook’s future is now looking less secure, because one of its key advertisers has just walked away from the service. General Motors has concluded that Facebook’s advertising didn’t have much impact on its potential clients and the company would be better off doing something else with the $40,000,000 it used to spend there. Perhaps, they decided that Desperate Housewife in the 4.30 at Derby may be a safer bet. The largest social network in the world, which is close to having a huge IPO, may compare the announcement of General Motors with a hole in the head.

General Motors is considered the 3rd-largest advertiser in the country, which is starting to express some doubts about whether advertising on the social network proves better than traditional media.

Meanwhile, analysts insist that while Facebook does position itself as one of the most important ad-supported media properties, no certain marketers are able to prove it really works. General Motors admitted that it will keep its Facebook pages which is free to create and for which it doesn’t pay anything, to market the company’s products.

At least, Ford is OK with the social network, saying in the interview that the company was really committed to advertising on the social network. Indeed, Ford is currently boosting its spending on Facebook advertising. Overall, Ford spends 20% of its marketing budget on digital and social media.

Internet advertising network Federated Media claimed in the interview that the social network needed to build relationships with the largest advertisers. Facebook might need to come up with customized advertising approach, even though its efforts would likely be not that profitable as traditional display or pay-per-click advertising

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