Yesterday, GM announced that they were no longer going to be displaying ads on the Facebook platform.
Before we blame Facebook for GM’s marketing effectiveness, were they doing it right, and were they measuring it right?
Most retail dealers still don’t get Facebook marketing; pushing your inventory feed to your business page doesn’t work & users don’t want to see that. Sharing real activities, connecting with users & providing service/parts special offers can create more awareness, improve loyalty & drive additional traffic.
My initial reaction is that they weren’t measuring it right. Unless they were are using attribution modeling, there’s no way for them to accurately value the benefits of social media. Even though GM is a massive company, there are only a handful of people in the world who know how to holistically value a customer, and they’re working at Amazon and Zappos and Google. It’s hard to believe that when your business is automobiles, which represent a major section of consumer spending, an average of $10k a year per customer, that you wouldn’t have your advertising displayed everywhere you could to encourage better engagement.
Marketers within the social spaces need to understand the power of the engagement factor & not the selling factor – the “moment capture” is the prize. (Check-ins, writing reviews & recommendations, photo sharing, etc)