Bad Timing: Massive Advertiser GM Shys Away from Facebook (FB) Ads As IPO Looms
GM (NYSE: GM), one of the world's largest advertisers, said it will stop advertising on Facebook as it founds the ads ineffective.
GM marketing executives said their paid Facebook ads "had little impact on consumers," the Wall Street Journal reported Tuesday afternoon.
The company will continue to use Facebook pages in its marketing efforts, although those have no costs.
GM marketing chief Joel Ewanick told the Journal the company "is definitely reassessing our advertising on Facebook, although the content is effective and important." Content referring to their unpaid Facebook pages.