Does it? All the stuff I've read complains about abysmal performance on Facebook and how it's money spent poorly unless you're trying to scam naive consumers.
There was a time where I'd see Coca cola advertising on Facebook. That time is gone.
I just opened Facebook to see what I’d see on the app, and just a couple of scrolls gave me: Planet Fitness, Expedia and a bunch of airline ads.
People will always complain how something doesn’t work, how they pulled out their ad money and etc. But then you see ad spend growth on every big platform.
It's a simple equation: Money spent on ads will go where the users (ears and eyeballs) are. By providing fine-grained targeting an advertising platform can extract more money from "the long end of the tail" which is where most of the money lives.
You're using a brand advertiser as an example when you should be using direct response advertiser as your example. Brand advertisers pay the least since their advertising is predicated on reaching a lot of people cheaply multiple times while direct advertisers pay the most since their advertising is predicated on getting people to convert immediately and judge their return accordingly.
The fact that you don't see Coca Cola ads means that Meta is able to find advertisers willing to pay more than them to reach you that you are more likely to convert immediately on.
weirdly, for my link that redirected to my countries' local coca-cola facebook brand page (denmark) which has its latest post 1 hour ago (8th feb 2023). I didnt know that kind of location-based redirect was a thing on facebook, interesting.
There was a time where I'd see Coca cola advertising on Facebook. That time is gone.
Last post from coca cola is August 2022 https://m.facebook.com/profile.php/?id=100064359142431
The number of top tier brands engaging is going down