Rakuten Marketing research has found that UK marketers are willing to pay large sums to social stars and ‘influencers’ – but 86% of marketers admit they aren’t entirely sure how the fees are calculated and 38% don’t know if that layout is actually driving sales. Despite this, spend on influencer marketing is on the rise. James Collins studies the stats behind this latest trend in celebrity marketing and tots up the value.
The London School of Marketing (LSM) has released a whitepaper titled Facebook Advertising through the Years, in which marketing experts claim Facebook advertising is no longer a cost-effective option for marketers who are seeking to build new audiences or attract new customers.
The whitepaper states: ‘From its early days, Facebook showed great promise to marketers. However, between its inception in 2004 and now, Facebook advertising has changed. For some, it has shifted from being every marketer’s dream to, quite frankly, a lost cause. While it vocally favours its users, lately Facebook has done little to satisfy marketers. Yet at the end of the day, it is the marketers who provide Facebook’s revenue.’
Now more than ten years old, Facebook has over a billion users and it is still growing. The lengthy whitepaper tracks the evolution of Facebook advertising over the past ten years, from the introduction of the ‘like’ button, to the demise of organic advertising.
The whitepaper concludes: ‘Marketers have been using Facebook advertising for over a decade and its continuing popularity with consumers makes leaving the social media site seem unwise. However, problems with the platform have continued to grow. While Facebook remains a strong way to build brand presence, when it comes to reaching new audiences or attracting new customers, marketers are now finding that their advertising budget is better spent elsewhere.’
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