Just as the stock market awaits Facebook to go public, GM spokesman Greg Martin confirmed that The General has decided to stop advertising on the addicting social media site.
GM spends about $40 million a year on Facebook marketing, $10 million of which is for paid ad placement. One report claims that the inefficiency of Facebook ads are as high as 83 percent, where respondents have never clicked on a Facebook ad. That number is most likely higher with the youngest age demographics. Last year, clicking on an ad cost GM $4.34 per user in advertising. That’s a hefty spike from the $3.07 rate in 2009
However, this by no way means that the company will be removing its brand and vehicle fan pages. Which is good, because without those pages, Facebook Fridays would never exist.