Facebook is failing marketers, according to new research

Despite many marketers spending increasing amounts of money on Facebook, relatively few are finding success, according to a new report from Forrester.

In an open letter to Mark Zuckerberg, posted earlier this week, Nate Elliott, vice president and principle analyst at Forrester, said that Facebook has not “delivered on its promise” and has “quietly become reliant on traditional advertising models it once lampooned.”

In August, Forrester surveyed almost 400 marketers and eBusiness executives at large companies across the US, Canada and the UK. The companies said that Facebook creates less business value than any other digital marketing opportunity – behind both Twitter and Google Plus.

Just 51% of respondents said that they were satisfied with Facebook as a partner, placing it behind Google, LinkedIn and Yahoo.

Despite the findings, Elliott says that Forrester does not believe Facebook will “make the changes needed to win back marketers’ hearts.

“In fact, we don’t believe the company even sees the need to change: Its enormous revenues have blinded it to marketers’ growing dissatisfaction.”

Elliott warns the social networking giant that the results will be “dire” if it doesn’t change.