1. Virtually every independent study I have seen on consumer attitudes about online advertising indicate that they are exactly the opposite of what we were told to anticipate. Online advertising is generally seen as the least trustworthy, the least liked, the least relevant and the most annoying.
2. The idea that consumers would be enthusiastic about “joining the conversation” about brands has turned out to be a fantasy. One look at a Facebook page and you can see there is not a conversation about brands to be found. In fact Facebook has essentially given up on providing brands with anything like significant organic social reach. According to most sources, the Facebook algorithm now delivers a brand’s page organically to about 1% of its followers. It has instead become the world’s leading distributor and beneficiary of paid display advertising -- the very thing it was supposed to replace.
3. The waste in online advertising is beyond comprehension. Reliable estimates are that over $16 billion in online ad dollars will be stolen by fraud this year; ad tech middlemen are scraping about 75% of online ad dollars even when there is no fraud; of the 25% of non-fraud ads that actually “appear” only about 50% are visible to consumers.