“The clickthrough rates on Facebook ads were abysmal, mostly due to their crappy targeting. A 0.05 percent clickthrough rate was average; achieve a rate of 0.11 percent and you were ordering the truffled steak at Alexander’s in SoMa (on the client’s dime, of course). Compared with regular display advertising, Facebook ads didn’t even register; even the worst-targeted ads (e.g., those moronic “punch the monkey†pseudogame banners) got clickthrough rates of at least 0.1 percent, and well-targeted ads using first-party data and rich, dynamic creative got click rates as high as 1 percent or more. It meant Facebook ads underperformed by as much as twenty times, if you were actually doing the bookkeeping (which many FB advertisers were not). Garcia Martinez, Antonio. Chaos Monkeys (p. 368). Harper Paperbacks. Kindle Edition. ”
