Date
Mar 6, 2022
Social media marketing platforms can provide intricate details and targeting of consumers so they became a marketers' dream
Brands of all shapes and sizes leveraged these platforms and got their customer acquisition costs down to a science
Some estimates are as high as 50% of all venture capital goes directly into the tried and tested strategy of running Facebook and Google ads. Even unicorns like Clearbanc were formed to fund this specific use of capital
But as capital flooded the social media marketing platforms to compete for eyeballs, the unit economics enjoyed by early adopters started to disintegrate