Slashdot Mirror
General Motors: "Facebook Ads Aren't Worth It"
Fluffeh writes "General Motors spends around $40 million per year on maintaining a Facebook profile and around a quarter of that goes into paid advertising. However, in a statement, they just announced that 'it's simply not working.' That's a bit of bad news just prior to the Facebook IPO — and while Daniel Knapp tries to sweeten the news, he probably makes it even more bitter by commenting 'Advertising on Facebook has long been funded by marketing budgets reserved for trying new things. But as online advertising investments in general are surging and starting to cannibalize spend on legacy media, advertisers are rightfully asking whether the money spend is justified because it has reached significant sums now.'"
Wait... $40 million dollars, a quarter of which ($10 million) was advertising. The rest was $30 million dollars of which $0 went to Facebook (accounts are free). Where did the rest go, does it really take $30 million dollars of payroll expenses to have a couple of people post status updates and photos? I realize they probably had review teams, photographers, marketing folks, customer service, etc - but $30 million dollars seems absurd.
You know who else are losers? Slashdot users: Freetard neckbeards who only want to talk about Linux, hate all end users, and have poor hygiene.
Am I doing it right?
What did the walrus say to the penguin? "No soap, radio."
I *don't* have an MBA, but with my long experience in IT and business process, I would have insisted on defining the expected outcome, with metrics to measure success. That would have uncovered a demographic mismatch, and likely other problems as well.
I have worked with MBA's, and most of them are idiots. They can't seem to think using the material from their coursework. And the newly minted MBA's? Holy shit, they think they walk on water, when I wouldn't trust most of them to walk my dog.