Who needs General Motors? On the heels of losing the carmaker’s support, Facebook is getting separate nods from Ford Motor Co. and Coca-Cola Co. -- each of which say they are finding value in Facebook advertising. Ford, for its part, said it plans to expand its use of the social network with more advertising.
“The remarks amounted to major-player endorsements for Facebook's advertising business in the wake of the social network's disappointing initial public offering last month,” writes The Wall Street Journal. Ford's global sales and marketing vice president, Jim Farley, said the automaker is deepening its use of social media, particularly on Facebook, to improve its image among potential buyers. "Someone who 'likes' you on Facebook is substantially more willing to advocate the brand," he said at an event, this week, WSJ reports.
In Cannes, Coca-Cola marketing chief Joe Tripodi said he was confident that Facebook ads probably helped drive beverage sales. "If we can get 40-million plus fans, or even some subset of them talking positively about the things we're doing, ultimately that's a good thing for us," he said, per WSJ. Last month, GM ended a $10 million campaign on Facebook, declaring that the paid ads had failed to impact car purchases.