You may surprise this news, but it is true. Unicorn Startup Company wishes to thrive in the market and spends its effort and time putting its money on Facebook Ads. However, what the company does not expect is that it only jeopardizes its plan to succeed in the process. As the famous advice, some experts would say “it is better not to save on marketing advertisements like Facebook.” In other words, Unicorn Startup has plenty of time and opportunities to earn more rather than to close its business out of time and tune.
The Unicorn Company as an American startup business decides to run its commercial company. Producing an E-Scooter startup, its manager uses Facebook ads and spends its money there for quite some time. Until recently, Unicorn faces tremendous news that its operations go awry and bankrupt.
Unicorn’s overconfidence and trust in Facebook Advertisements led to its failure. The company desired to make and peddle e-scooters for $699. In fact, as a startup, the company needed to focus on how they could sell more scooters. The company had only 350 pre-orders for the e-scooters, and this number could grow more if employees worked hard to sell it and if other employees were supportive to manufacture more.
However, Unicorn Company wished to put all its money into Facebook Advertising. It just realized that it could succeed in the market since several users and social media visitors clicked and viewed Facebook Ads. Of course, the company thought that Facebook advertising yielded positive results among small-scale and large-scale corporations to promote their products and services. This notion allowed Unicorn Company to believe that Facebook Ads would do the same thing for it. As Unicorn Company considered Facebook a great help, it did overlook to see the negative side of the problem. Not all businesses found success on Google and Facebook. Sometimes, Google and Facebook channels offered effective commercial advertising campaigns, but they sometimes did not deliver positive results.
Accordingly, Founder and CEO of the Unicorn startup Nick Evans began writing letters of apologies. Nick Evans started to send apology letters and promised to refund the money of their shareholders and other constituents. Moreover, Nick Evans emphasized that he had to sell his assets to reimburse his losses despite the repercussions of his actions.
Now, if you were Nick Evans, would you still invest all your money on Facebook Advertising the next time around? Or would you try another plan if you gained another financial resource?
Photo credit: Theverge.com
