Just noticed this today on my facebook profile. 3 ads by the same company - American Express Canada.
Does this work?
I have no idea but maybe some of our seasoned Facebook veterans knows.

This is the landing page:
http://www.facebook.com/AmexforBusiness
Well it's amex so they are prob pissing away money, but I do remember people doing this for a while for ringtones on PPC back in the day and getting good results.
simple answer.....yes it works....
reminds me of POF Blog Post http://blog.ads.pof.com/2011/10/03/b...ting-your-ads/
They will have access to dynamic bid adjusting so if they were half smart they could easily get it to work.
I would be pleasantly surprised if they actually cared whether it worked or not. Most big corporate FB advertisers seem to spend purely to hit marketing budgets.
Huge branding budget.