I have said numerous times to stunned colleagues and clients, I’d rather burn $100 bills in the street than spend money on Facebook advertising – at least I could guarantee I’d know where the money was going and it would make an impact.
Despite my money-burning, attention-getting statement, I have had tremendous success with digital advertising, facebook included. However, digital advertising is not a replacement for mass media by any stretch of the imagination. Facebook does play a role, albeit a very small, local, targeted role.
The key is micro-targeting and local-to-local. I have found that the smaller the geographic limit, the more effective the campaign. For example, a local business advertising to its local town. The main problem is that is not even remotely scalable. Impossible for national brands. Like P&G.
“As we all chased the Holy Grail of digital, self-included, we were relinquishing too much control—blinded by shiny objects, overwhelmed by big data, and ceding power to algorithms,” Marc Pritchard, P&G’s chief brand officer.