social media ads a waste of money

http://www.hotelmarketing.com/index.php/content/article/social_media_ads_a_waste_of_money_says_priceline
Spanking the monkey is no longer the route to a successful site, but his principle stands true. It doesn’t matter how much money you spend on advertising, or optimizing your site, if you don’t have compelling content that educates, entertains, or enriches visitors’ lives then once people arrive at your site they will not be compelled to stay, or come back.
Every day we hear of the Cost Per Friend/Follower of Friend/Follower Acquisition Campaigns. When we talk about buying friends, alarm bells start ringing.
If we can be popular then our online advertising would make so much more money. you lose sight of what’s important by refusing to lift your heads from your friend count.
And this is the reason so many brands are throwing money at ‘Social’ without a real idea of how they will make use of their new found following. Let’s be clear about this—your online fan base is a means to an end. Twitter don’t hand out prizes to the people with the most followers. What are you going to do with your new friends?
So now you know how to waste your money on ‘Social’, how do you exploit this medium to it’s best advantage? Like everything else online, put yourself in the shoes of your visitors. What do they want from your site. What true value does your site offer them? If your site isn’t truly compelling then take a deep breath and and put a hold on that payment to your new social marketing company.
Social media needs form you more interaction and time with your guests and visitors not money so if you spend money on this to promote your business you are just in wrong way
The article is realy talking may be about people that are buying their followers and never they will succeed like that they have to think again about their strategy ,using SM tools with o cost