Of course, this kind of ‘finding’ makes for great headlines and creates a buzz for Forrester. Analyst Nate Elliott wasn’t content with letting the report do the talking. Here he takes a swing at Facebook in the form of a letter to Mark Zuckerberg.
Why are business leaders less satisfied with Facebook than with any other digital tool? We believe there are two reasons.
First, your company focuses too little on the thing marketers want most: driving genuine engagement between companies and their customers. Your sales materials tease marketers with the promise that you’ll help them create such connections. But in reality, you rarely do. Everyone who clicks the like button on a brand’s Facebook page volunteers to receive that brand’s messages — but on average, you only show each brand’s posts to 16% of its fans. And while your company upgrades its advertising tools and offerings monthly or more, you’ve done little in the past 18 months to improve your unloved branded page format or the tools that marketers use to manage and measure those pages.
Second, your company isn’t good enough at the pure advertising business onto which you’ve shifted your focus. We estimate your site now delivers tens of billions of display ads every day. But fewer than 15% of those ads leverage your ever-growing cache of social data to target relevant audiences. And your site’s static-image ad units offer marketers less impact per impression than they could achieve with the ad units other sites offer. The result? The executives we surveyed said Facebook’s display ads were significantly less effective than the display ads they buy elsewhere online. They also reported that Facebook ads were less valuable than any other marketing tactic they could use on your site.
Yikes. How do you really feel?
Now we can do a little survey of our own? Do you agree with these findings and the sentiment around them or would you feel another way?