Despite the decent first quarter earnings it announced yesterday and all the progress it claims to be making in closing the search marketing gap with Google, Yahoo still has plenty of advertisers unsatisfied with the return Yahoo gives them on their search marketing dollars. One of them (name redacted) sent us the correspondence below from Yahoo Search Marketing, which he received after closing an account and requesting a refund of the remaining $375 balance.
Imagine his surprise when a Yahoo customer service rep informed him that a refund of nearly $9 billion was waiting for him! Luckily for Yahoo shareholders, he only found a credit for the original $375 when he checked his account.
And this is the same company advertisers are supposed to trust to be able to calculate what their minimum bids on search ads are going to be.
From: Yahoo! Search Marketing
Date: Thu, Apr 17, 2008 at 9:36 AM
Subject: Re: Case #1604XXXXX
Apr 17 2008 09:36 PT
As you requested, we have completed refunding $8962385800 to your VISA ending in 7134. Depending on your bank, you should find this refund reflected on your next credit card statement.
This transaction is also reflected in the Billing Transaction Detail Report, available in the Reports section of your account. You can find this report by doing the following:
1. Log into your account at the following link: https://login12.marketingsolutions.yahoo.com/adui/signinXXXXXX.
2. Click the Reports tab.
3. In the Financial Reports area, click Billing Transaction Detail.
Yahoo! Search Marketing