Sunday, July 1, 2012

Retailers feast on free Facebook tools, shun ads.

Krishan Agarwal, president of online luxury watch vendor Melrose.com, told a roomful of attentive Internet retailers last week how Facebook had helped his company generate about 25 percent more sales in two years.

Then he dropped a bombshell: Melrose spent less than $1,500 on Facebook ads during that time. Everything else the company did with Facebook was free.

Agarwal's experience goes to the heart of the issues confronting Facebook Inc as it tries to turn its giant global network into a money machine. Advertisers love the platform but don't necessarily see the benefit in spending money on the ads.

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