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Oops, Facebook Advertiser Gets A Mysterious Bill For $8.8 Million

Discussion in 'BlackHat Lounge' started by discodave, Feb 25, 2011.

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  1. discodave

    discodave Regular Member

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    "
    Social ads on Facebook are supposed to be cheap. In fact, they are one of the cheapest ads on the Web in terms of cost per thousand impressions. So imagine Facebook advertiser Joshua Niamehr's surprise when he logged into his Facebook ad campaign and saw the following notice:
    There is an outstanding balance of $8,804,978.14 USD on your account. Your ads will not be displayed until your account is settled. Please enter a valid funding source. When you submit that information, we will charge your funding source for $8,804,978.14 USD.
    Needless to say, he did not click "Make Payment." Niamehr's credit card had expired, which is why his account was delinquent. But his actual outstanding balance was $58.07, not $8,804,978.14. (He was placing ads to market his site LaundryLocal).
    Facebook did eventually correct itself and showed the correct amount, to Niamehr's relief. So was that $8,804,978.14 just a glitch. Niamehr thinks the number was too specific for it to be random. His theory: "I think this may be the outstanding balance across all or many of their accounts." That's just a theory. But if that's true, it's not an inconsequential amount. Maybe Facebook should get into social debt collection. It could offer Facebook Credits to friends of delinquent advertisers who shame them into paying their bills.
    "


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    http://techcrunch.com/2011/02/24/facebook-advertiser-8-8-million/
     
  2. Baraba

    Baraba Regular Member

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    I used 50$ facebook voucher and set the advertising budget to use exactly $50.00.
    Currently my balance says $50.77, so $50 are from the voucher and 0.77$ they will eventually charge from my paypal account.
    Needless to say the $50.00 spend of advertising on Facebook was for very crap traffic that did not convert very well.
    Well, Facebookers are not much of a buyers or socially active outside the Facebook and they better stay on Facebook.
    At least I got the experience to stay out of Facebook for advertising.
     
  3. stego

    stego Newbie

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    I disagree. I've heard of quite a few affiliates doing extremely well on facebook. It has a lot to do with your vertical and how you're targetting your demo. Advertising on facebook requires a lot of testing to acquire the neccessary data to run a proper campaign which $50 most likely won't give you.
     
  4. jegolove

    jegolove Regular Member

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    I completely agree with you ; I'm one of them
     
  5. DerDer

    DerDer Junior Member

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    Agree. Even if the ad is dropping u to a Fb fan page, it won't be easy to convert.
     
  6. jesusiswatching

    jesusiswatching Newbie

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    damnn
     
  7. darkmobius

    darkmobius Regular Member

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    Occupation:
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    we allow one word posting now?
     
  8. manolo12399

    manolo12399 Senior Member

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    First try I had on Facebook I managed to makde abou 250$ with a 50$ dollar coupon.

    But I start bidding very Low, had several ads going on, and cutted the not converting very quicly, by the way the product I was promoting has 90 day cookies, really most of the sales arrived after I finished the coupon, really actually I spent 58$, before I paused it , now is making about the same ROI, but daily, still the sales are coming after.

    Probabily peoples, click on the ads go to the landing page, do a research on google or whatever, and after buy it.
     
  9. stego

    stego Newbie

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    400% ROI.... hope you scaled that bad boy up.