Yes, it's true that some brands have failed on Facebook- but to write off the entire concept is overreaching. The problem, to date, hasn't been with technology but with merchandising. Brands need to figure out the correct mix of merchandising and marketing before they will be successful. Too many retailers have just been vomiting up their entire catalog and that's what what the consumer wants on Facebook.

Facebook will always remain a secondary or tertiary revenue stream for brands, but there is money to be made in that space.