Facebook Trying to Woo Back a Major Marketer Bloomberg
Facebook is reportedly in negotiations with a major marketer in an effort to convince it to resume advertising on the social network, according to Bloomberg. The marketer is General Motors.
On the eve of Facebook's initial public offering in May, the automaker said it would stop buying ads on the network. It spent $10 million on Facebook last year, just a fraction of GM’s $1.8 billion in ad spending during 2011, the piece notes.
According to Bloomberg, GM would consider returning to Facebook if there is a "proper" return on the investment.
GM also earlier this year cut its spending on the Super Bowl, with Chief Marketing Officer Joel Ewanick saying the company couldn't justify the expense.
Facebook Chief Operating Officer Sheryl Sandberg has been talking with GM Chief Executive Officer Dan Akerson, while Facebook Vice President of Global Marketing Solutions Carolyn Everson has met with Ewanick, the story notes.
A spokeswoman for Facebook declined to comment, while a GM spokesperson couldn't immediately be reached for comment.