Let the record show that, on November 26, 2018, I saw a ten-second paid advertisement on a Facebook "entertainment channel" (i.e. a page that regularly posts ten-minute "shows" of people reacting to videos, songs, "name that song" out of your era, etc.) for my "local" excursion line, the Verde Canyon RR, and its Christmas special trains--as slickly produced as the best TV spots.

Have any of the venues that interact with this site experimented with this apparently "targeted" advertising on social media yet?

We use Facebook advertising every year for Day Out With Thomas. It seems to work really well.

I should hope so. Social Media / Online marketing is extremely effective. I know Grand Canyon Railway uses both Facebook and Google Ads, every time I go to check their steam schedule I see their ads pop up for a few days.

A railroad near my home area, The Everett Railroad in Hollidaysburg, PA makes good use of Facebook advertising. Seems very effective at filling the Pumpkin Patch and Santa Express trains in the fall. I forward their posts to my FB friends and several have ridden the train and then recommended it to theirs.

When people have a good time and are impressed with how the railroad is run, they share to their friends greatly expanding the marketing reach. They key to social media marketing is making sure your facilities and trains are clean, you staff is friendly and the patrons are treated like the paying customer they are.

I’ve seen a few other tourist railroad operations get many negative FB and social media posts for filthy coaches, rude staff, nasty bathrooms, confusing ticketing and other foibles.
A friend recently rode a dinner train in WV based on my forwarding their latest FB ad. Unfortunately, they had a terrible experience. Broken seats, rain leaking through the windows, out of service bathrooms and three of the five in their family got sick after eating the meal. Needless to say, their review of the ride on the RR Facebook page is not good.
So, if you want social media advertising to work for you, not against, be sure your operations are really a pleasant experience for patrons.