In this week’s Forbes “On Mar­ket­ing” col­umn, Effi­cient Frontier’s Pres­i­dent and CEO David Karn­st­edt shares his opin­ions on Face­book and how we’ve only touched the tip of the “like-berg” of Facebook’s effec­tive­ness as a mar­ket­ing tool.

David goes on to say: “There is a lot of talk about the lack of ROI on Face­book. Inter­est­ingly, TV sel­dom has such a dis­cus­sion despite its matu­rity and tens of bil­lions being spent on it. The engage­ment and its effect on brand­ing and pur­chase behav­ior are assumed. The rea­son why Face­book receives so much scrutiny is because it can be eval­u­ated through a vari­ety of lenses. It is this vari­a­tion of mea­sur­a­bil­ity in Face­book fan engage­ment and behav­ior that tempts many adver­tis­ers to look at Face­book through a direct-response lens. I think this is a myopic and nar­row view of the chan­nel. Face­book is not the same as Search in that it is not pure direct response. Face­book is not TV in that it is not pure engage­ment. Face­book is, well,Facebook. As more data emerge, the value of Face­book as a brand­ing, engage­ment and a direct-response medium will become evi­dent to even the most ardent of naysayers.”