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.”