This is the same myths that everyone in advertising propagates.
Such a belief purports that the effect of all advertising is measurable. It clearly is not. For example, someone sees your ad and decides your company is reprehensible. They were not a customer and they decide to never interact with your company. It's not possible to measure this. Anyone claiming it is holds what amounts to a religious belief.
The "generates negative returns" is the next myth in this. Whether or not advertising generates positive returns is not relevant. You can't measure the return of advertising in the first place. Even if you could measure it, you should be comparing it to the opportunity cost of not doing something more productive with that money. Which you also can't measure. No one rationally proposes that someone spends a hundred dollars on advertising to generate $100.10 in revenue is somehow a good use of money.
Such a belief purports that the effect of all advertising is measurable. It clearly is not. For example, someone sees your ad and decides your company is reprehensible. They were not a customer and they decide to never interact with your company. It's not possible to measure this. Anyone claiming it is holds what amounts to a religious belief.
The "generates negative returns" is the next myth in this. Whether or not advertising generates positive returns is not relevant. You can't measure the return of advertising in the first place. Even if you could measure it, you should be comparing it to the opportunity cost of not doing something more productive with that money. Which you also can't measure. No one rationally proposes that someone spends a hundred dollars on advertising to generate $100.10 in revenue is somehow a good use of money.