Goodbye, Facebook. Hello, Meta.
Facebook’s decision to rebrand from the name and styling of their flagship social platform to the new, more futuristic masthead, Meta, is certainly exciting. Announced by CEO & Founder Mark Zuckerberg in October of this year, news of the brand’s big change – and speculation on its potential impact – has been circulating internet-wide ever since.
But for many business owners who rely on the capabilities of Facebook’s ad platform to turn a profit, excitement has quickly turned to concern.
As Meta emerges, what can we expect to change on the platform? How can we best prepare businesses to brace for those changes?
Let EMPIST assuage your fears. Follow along as we answer these questions and more, below:
What is Meta?
Before we get into the how and why of it all, let’s start with the what; As in, what does the name Meta actually mean?
During the October 2021 Connect live stream, Zuckerberg said that “it is time for [Facebook] to adopt a new company brand, to encompass everything that we do. To reflect who we are and what we hope to build, I am proud to announce that, starting today, our company is now ‘Meta.'”
He goes on to specify that, while Facebook is certainly one of the company’s most popular products, the brand ‘Facebook’ in and of itself does not do a good job representing all of the assets in their portfolio. Meta, therefore, is meant to more accurately describe the whole of the conglomerate’s social media platforms (Facebook, Instagram WhatsApp) and their other ventures (like Oculus VR, for example). While these individual assets will presumably keep their branding, the entity that owns them is now Meta.
In its traditional use, meta is a prefix meaning ‘transcending’ or ‘comprehensive’ which tracks with Zuckerberg’s intention. From the Greek μετά meaning “beyond”, it is perhaps most saliently linked to tech and tech enterprises through the term metaverse (“beyond” plus “universe”), which describes a near-future virtual reality space for connecting, interacting, and of course, shopping.
A known fan of the science fiction novels from which the metaverse concept originated, Zuckerberg’s hope to transform Meta from a social media company into one trafficking in the creation and maintenance of the actual metaverse is no secret.
The name change just makes it official.
How Will Meta Affect My Business?
In the immediate sense, Facebook’s rebrand to meta won’t technically change your business or how your business runs ads. But that doesn’t mean change won’t be affected on a more granular level.
Since making the announcement, Meta has made it clear that they have no intentions to fundamentally alter the purpose of Facebook or any of its other social media platforms. However, if Zuckerberg is serious about building the metaverse, it’s a safe bet that major adjustments are somewhere in the pipeline.
Take, for example, Meta’s recent decision to remove “detailed targeting” options with “sensitive” topics. Starting in January of 2022, ad accounts will no longer be able to target audiences based on religious views, political beliefs, health, and more. While this change is a positive indication of Meta’s commitment to privacy & protection ahead of the metaverse, it will likely force advertisers to reconfigure their audience targeting in the new year.
Similarly, as we look ahead to the real-life implications of an embodied internet, advertisers will be asked to make serious updates to what kind of content they produce and how it is served. More and more brands are jumping head-first into meta-like strategies in the form of NFT’s and virtual stores.
Facebook’s decision to rebrand does make this type of pseudo-futuristic advertising something to consider.
Who Can I Turn To?
Big change calls for big brains. Do you have the right partner to lead you through it?
From Facebook Ads to cloud computing, EMPIST’s team of tech experts has the knowledge you need to handle even the most drastic of digital changes ahead. To learn more about our digital marketing services, visit us online today.