One of the biggest developments in the tech world during the pandemic was the announcement of Facebook’s entry into the metaverse. Facebook’s shift to their new all-encompassing Meta brand has caused a lot of discussions for what this will mean for users and businesses that use the platform. Understanding what exactly the metaverse is and how it is going to develop will become clearer over time. As a Facebook advertising agency, we have kept a close eye on how these changes will affect the services we provide for our clients. To give you a better understanding, the team at our social media agency has put together a guide on what exactly Meta is doing and how it is likely to affect your business.
What is the Metaverse?
Marc Zuckerberg rebranded the company as Meta to start the transition for his social media platform into the metaverse. A metaverse is effectively a virtual environment that allows users to interact with other users as an avatar. Think of a mix between a social media platform and a video game. A metaverse will operate in a similar way to existing social media platforms. They are always active, and users will interact with each other and other elements of the digital world. As with any new technology, it is hard to grasp the full scope of its potential until it is more widely adopted. The only thing we know for sure is the potential for gaming, entertainment, and advertising on this type of platform is huge.
Meta vs Facebook
The Meta brand will encompass all the Facebook social media apps. Given that Facebook is still the largest social media platform, questions are being asked about how it will change under this new branding. Fundamentally, there is no change to the way that Facebook operates. You won’t log in to your Facebook profile one day and find yourself confronted with a three-dimensional VR world. The rebranding by Meta signals their intention to become major players in this new digital space but they won’t be the only ones adopting this approach. Meta does not own the metaverse and there are already platforms that offer this type of service. However, they are looking to be one of the first to offer such a comprehensive service to users. If your business operates on Facebook, it is worth keeping yourself updated as Meta makes this transition to the virtual world.
What are the marketing opportunities in the Metaverse?
As an agency, we offer a range of social media services including Facebook advertising management. Now that Facebook is transitioning towards the metaverse there will be huge opportunities for advertising campaigns. Given how immersive the metaverse will be for users, there are lots of new ways for advertisers to interact with customers.
Engage new customers
Social media advertising is already a great way of engaging with new customers and audiences. Utilising the metaverse to create a virtual space or event that promotes a product or service can attract new customers to a brand.
Influencers are a huge part of any social media platform. The metaverse will be no different. Partnering with users who are gaining influence on the metaverse could have massive benefits for anyone looking to advertise their brand.
A new e-commerce experience
The metaverse has many exciting possibilities for e-commerce businesses. Virtual and augmented reality features allow businesses to create a more exciting shopping experience. 3D shops within the metaverse allow customers to walk around and browse products as if they were in a real store. The possibilities for creating new e-commerce shopping experiences are endless!
A huge component of the metaverse is going to be gaming. Many of the existing metaverse platforms are in some way associated with gaming. Meta is keen to expand its influence in the gaming market. Product placement is a popular method of in-game advertising, and this will only continue to grow on the metaverse.
Changes to Facebook Ads
As a Facebook advertising agency, we have kept a close eye on how Meta will affect paid Facebook advertising. As we mentioned previously, Facebook Ads will not change a great deal despite the Meta rebranding. However, there are some important changes to Facebook Ads targeting that Meta has introduced. Due to the backlash over privacy breach issues and other controversies, Meta has removed four categories from its targeting options. Campaigns will no longer target:
- Sexual orientation
- Health causes
- Religious practices
- Political beliefs
These changes aim to make Facebook a fairer advertising platform for users. Something which is especially important as Meta transitions to a more immersive and real-world platform.
Meta has also recently announced Meta Business Suite. This is similar to the Facebook equivalent and will let users manage their business profile from one screen. The main difference is that users can now manage both their Facebook and Instagram profiles on the same interface.
If you need help with social media advertising, get in contact with our Facebook advertising agency. Our digital marketing agency in Bournemouth specialises in creating effective social media ad campaigns. Give us a call on 01202 798820 or email firstname.lastname@example.org.