This is a bias of online thinking. Brick and mortar retail doesn't really know the conversion rate on ad spend. The old adage is that you are wasting half of your advertising spend, but the problem is that you never know which half.
So, we make decisions based on imperfect information. When it was TV or Radio ads, there were 3rd parties that measured the market and reach of the station. With Facebook, Youtube, etc we have to take their word for it.
So, we make decisions based on imperfect information. When it was TV or Radio ads, there were 3rd parties that measured the market and reach of the station. With Facebook, Youtube, etc we have to take their word for it.