In a recent article from Bloomsburg, Dan Kunz has written about what exactly GM did wrong and tries to put the auto company’s decision to pull out Facebook ads in to proper context. In doing so however, he included this statement:
“But the truth is that Facebook ads work better for some businesses than others. GM did what any savvy marketer facing a budget squeeze does—it optimized away from underperforming media channels. Advertising, after all, is an investment. You need to put your funds against what works best.”
While this is basically common sense for business, it’s less trickier to say it than to actually pull it off. Part of the problem is the business itself, how it tracks the buyer’s journey and calculating who gets the credit for the sales. You can clear things a little bit more though if you would identify which side of the business world you’re on.
For instance, if you’re marketing business software, does Facebook sound like a likely place to fish for ERP leads? Even Dan Kunz has given a lot of nods on the overall personal nature of the social media site. You’re likely to find more people talking about their pets than anything big business related.
Now it’s time to look at yourself as a business and also ask some of the questions posed in the article. Who is your market? Who are you targeting? How do you find out where they managed to hear about your software? What’s a good place online besides Facebook to find people who could qualify for business software leads?
One thing’s for sure though, if you don’t know how to figure that out, you might make the same mistake as GM.