I've never been a big fan of facebook and in fact cancelled my page a few years ago when my niece would write how bored she was or my sister couldn't decide what to have for lunch. I've recently started a new page and have discovered how it has adapted to a more intelligent audience and more meaningful postings and pages. I see folks as professionals and groups of all kinds there, connected in a meaningful way. Sell something, buy something, promote something, critique something, there isn't too much you can't find without a facebook page.
It is the senior web of connectivity for events, products, families, co-workers, etc. You may chat here and tweet there but for more depth visit my facebook page, this is the impression I get, a harbor of ones life, work, friends and activities with music, film and books as well. Facebook is filling a tall order and from what I see if they visit once a month or everyday, users are "liking" it.
I don't have a FB page, don't like the leadership or the business model at all.
But for a society moves from the radio, to the TV, then to the desktop, to the laptop, and now the mobile device, the first mover to dominate in mobile advertising has a huge moat and competitive advantage. Also, FB remains the most visited web site in the world. Advertisers want eyeballs and impressions, and mobile is becoming the universal billboard.
FB may not have proof of effectiveness but it likely has become to big to fail or too big for advertisers to ignore. If you HAVE to be on FB, and advertisers know this, FB will have a moat for at least the next 3 years.
I don't like ads on the net or on my ultrabook. I don't use FB and I don't know that it's making our society better. But it appears that FB is opening up a monopoly on ad space viewing on mobile. If GOOG doesn't catch up, FB can go to $100 in 2015 and FB will be able to dictate its mobile terms.
The big question is.... did you buy anything from FB advertisers? And would you have bought it without seeing it advertised on FB. For example, would you have bought your starbuck coffee even if fb doesn't advertise them? FB can do a wonderful job all it wants, but the end of the day, money needs to roll into the advertisers' pocket. If not you're just another freeloader on FB.
Coca Cola can't track how much cola they sell with a facebook ad unless they have a coupon or something like that. All advertising is a matter of impressions and the real question is (1 billion impressions) how many impressions are the advertisers getting with facebook? Larger companies such as Coca Cola, Pepsi and Ford are simply branding, getting their name out there.
If you're selling billboard space and you have a million billboards everyone that sees those billboards with your ad on it is an impression. This sets the rate of advertising on those billboards. Well facebook has a billion billboards, you do the math.