As Facebook prepared to offer it's IPO, GM announced a re-think about the ads they have been placing on Facebook. Should Facebook be worried? Or is this typical of large advertisers that routinely move their ad dollars around. Should you be concerned if your advertising strategy includes social media?
Like so many, GM may not be using the social platform correctly. Too many traditional advertising giants don't understand the differences and characteristics of the new medium.
Traditional media is great for attaining the largest reach and delivering broad branding messages, but the new digital platforms provide a tremendous opportunity to reach niche buyers directly with targeted messages that cost a fraction of the traditional media. Instead of talking to the audience, social media allows the advertiser to listen and communicate with their customers and prospects.
Social media should not be judged by the same criteria as TV for results and the results should be ostensibly different for each medium. Social media can develop trust and loyalty, something TV is hard pressed to deliver. While TV can deliver a huge audience, social media strives to reach individuals.
Most of the ads on Facebook ignore the basic attributes of the medium. This is a sure road to disaster. Stop trying to use it the same way you use traditional media....It's SOCIAL!
I don't think that Facebook has anything to worry about yet. As advertisers become more familiar with social media and adapt their marketing to incorporate the positive aspects of the medium, their expectations will become more realistic and their results will reflect this.