THE FACEBOOK META REBRAND
And it’s Impact on Paid Social Advertising
“Well, that’s dumb.” If you’re like most of us, you probably muttered something similar after hearing Facebook was changing their name to Meta. But there was a method to their madness. With their name change comes some bigger changes that could impact the way you do business. It could also open up many new opportunities for how you advertise. We’re sure you have plenty of questions. So let’s dive into what the Facebook Meta rebrand means for paid social media and how it could affect advertising and your business as a whole.
Facebook is Now Meta: Why The Name Change?
To be clear, the Facebook app and website aren’t changing names. That social platform where your old high-school buddy posts his conspiracy theories is still Facebook. But the company has expanded beyond just one platform. Meta represents much more than a name change. With Facebook, Instagram, Messenger, WhatsApp and Oculus under its belt, the company felt it was time for a name that properly encapsulated all of it. “The word Meta, comes from the Greek word meaning beyond.” Mark Zuckerberg explains. “For me, it symbolizes that there is always more to build.”
Zuckerberg clearly has his eyes on the future, especially when it comes to his 3D virtual network known as the Metaverse. Zuck envisions the future of the internet (Web 3.0) as a virtual reality hub where you throw on goggles and are transported into a virtual world. Think Ready Player One minus the collapse of civilization as we know it (we hope).
What Other Changes Are Coming?
New Limits on Audience Targeting
If you’re in paid social or digital advertising, there is one particular change you should know. Due to industry pressure, Meta is scaling back on some ad targeting settings . As of January 19, Facebook removed targeting options for these four categories:
- Health causes (e.g., Breast cancer awareness)
- Sexual orientation (e.g., LGBTQ culture)
- Religious practices and groups (e.g., Jewish holidays)
- Political beliefs, social issues, causes, organizations, or figures (e.g., political parties)
For campaigns that were created before January 19, 2022 it’ll still allow you to make campaign-level edits, like adjusting budget amounts or campaign names, without affecting targeting until March 17. However, any ad-set level adjustments will trigger the audience changes.
Takeaway: If you’re looking to make changes at the campaign, ad set or ad level, you should revise your targeting settings before March 17.
While audience targeting has proved beneficial for consumers, as they’re served highly personalized ads, it’s been a hot topic in the industry. “We’ve heard concerns from experts that targeting options like these could be used in ways that lead to negative experiences for people in underrepresented groups,” explained Graham Mudd, VP of product marketing for Meta .
Consumers Gain More Control of Ad Exposure
In addition, Meta is giving consumers more control over their exposure to ads. Currently, consumers can opt to see fewer ads related to politics, parenting, alcohol and pets. People will soon be able to also have control regarding gambling and weight loss content.
Takeaway: As of now, no other social platform has made changes to their targeting. However, things can change rapidly. It’s a good idea to prepare for changes to be made. If you’re currently targeting sensitive group, make sure to have a backup targeting strategy so you can easily pivot. As you’ll see, changes to ad targeting are just the beginning for Meta.
Meta is giving consumers more control over their exposure to ads.
What Will Paid Social Advertising Look Like In the Metaverse?
While Meta’s targeting restrictions may complicate things for some, the future of advertising looks bright in the Metaverse. A 3D virtual world comes with seemingly boundless opportunities for marketers. Here are some of the possible ad opportunities to look forward to:
The seemingly easiest form of advertising in the Metaverse will be virtual reality billboards. For example, you may look out the window from your virtual home and notice a billboard for a new beverage. Because of their simplicity, billboards may be the earliest ads we see in the Metaverse.
Gaming will be a huge part of the Metaverse. We may see plenty of opportunities for brands to incorporate themselves into these games.
Much like the paid social advertising we see today, there will likely be sponsored content that may come in the form of immersive experiences. For example, imagine a virtual racetrack where you get to test drive a specific car.
We’ve already started to see this with AI influencers like Lil Miquela . A new rise of virtual influencers may take over the Metaverse in one fashion or another. Some may be designed for the sake of pushing content with the hope of being sponsored. Others may be created by brands themselves to serve as a spokesperson of sorts.
Send Us A Friend Request
Calling or emailing might be better. Either way, if you’re looking for help with your paid social advertising, come talk to us. We can help you and your team navigate through all the changes happening in the industry. Social media is always evolving, Wingman Media can help make sure your brand evolves with it.