Advertising Golf on FaceBook
Well I finally succumbed to the masses. I joined Facebook. Not as in the sense that everyone could ‘poke’ me or add me as a friend (I am still a holdout on that side of the ledger), but in the sense of that I am now starting to advertise tee times using FaceBook’s contextual ads for my TeeTimes.net venture.
First impressions (3 days in)? I expected to receive poor results, but I didn’t think it would be that poor. Here are some details:
- Averaging 3800 impressions per day
- Affinity targeted to those people who like “Golf”, “Golfing”, “Playing Golf”, “Vacations”, etc.
- Geo-targeted to people from whom I receive a large percentage of web traffic for golf trips
- CTR = 0.00%
- Clicks = 0
The good news:
- Ad Spend: $0.00
I mean, I have heard that Facebook converts poorly and that the latest eye tracking is showing an increasing amount of banner blindness [one would expect that the results are higher for really sticky websites that people interact with on a daily basis like FaceBook], but I would have thought that I might have gotten at least one accidental click or something. But nope. Nada. Thank goodness for PPC.
With regards to Facebook’s business model, I am sure that monetization through advertising is not a sustainable strategy. And with Facebook expected to have a negative cash flow of $150 million for this next year, one has to hope (for all those addicted to their community), that they could figure out how to capitalize on the traffic, and more importantly, the knowledge of the “who”, the “what”, the “when”, and the “why”.
What are your thoughts? Will social network advertising ever work? Or should Facebook and others just hurry it up and get on with other business models?
I heard someone compare Facebook to broadcast television a while back [I don't remember who] with the arguement that if NBC, ABC, et al could monetize the eyeballs with advertisements, why can’t Facebook. I don’t buy it. My interpretation: NBC and ABC are now fighting to prevent people from skipping over the ads with Tivo and other PVRs, injecting commercials into programming and finding other ways to monetize.
Anyhow… my thoughts for the day