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From my Forbes.com blog The New Persuaders:
Despite recent signs of sunnier weather ahead, a cloud of doubt about the prospects for Facebook’s advertising business continues to hang above the company, putting a damper on shares still well below their initial offering price. Two new reports do little to dispel the gloom.
In a survey due out later this morning, social marketing analytics firm 33Across says client advertising agencies and brands are focusing less of their attention on Facebook compared with the rest of the Web. That doesn’t speak directly to their budgets, but sentiment is important too.
Of the 2,200 agencies and brands surveyed in June, 80% said the “rest of Web” gets more of their team’s attention now than Facebook, up 11% from March, well before Facebook’s May IPO. Some 71% of respondents said they’re now spending 80% of their attention on the rest of the Web vs. Facebook, up 23% from March.
Finally, when asked the money question, “Do you see your Facebook spend changing vis-a-vis the rest of the Web?” more than five times as many in June compared with March said they’re planning on reducing their Facebook budget. That’s vs. the rest of the Web, not on an absolute basis. …
Read the complete post at The New Persuaders.
Filed under: advertising, display, Facebook, social Tagged: | 33Across, advertising, display, Facebook, Initial public offering, social, social networking
I am unable to see what value Facebook can offer my business, it is a social network designed for personal relationships rather than business branding.