

How Effective is Internet Advertising? - worldvoyageur
http://marginalrevolution.com/marginalrevolution/2014/06/how-effective-is-internet-advertising.html

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worldvoyageur
TLDR: "for non-brand keywords we fi nd that new and infrequent users are
positively influenced by ads but that more frequent users whose purchasing
behavior is not influenced by ads account for most of the advertising
expenses, resulting in average returns that are negative."

