On October 28th, Facebook announced their name change to Meta. The name change is representative of only the parent company. All of the platforms will continue to keep their original names:
How are Advertisers Affected?
Well, in short, they’re not. Advertisers are not affected because the platform applications and websites are not changing. Which in turn means the ads manager platform is not changing either. Advertisers, as well as users, can continue using all Meta platforms the same as before the name change.
What is Meta?
Zuckerburg believes that “the metaverse is the next chapter of the internet” and that the way we are currently using technology is incorrect. The Meta CEO believes that our devices should be built around people, not applications. In very simple terms, the metaverse is supposed to mix real life with the digital world in all aspects possible.
What Caused This Change?
In an attempt to distance itself from a social-media business tied to drama, Facebook commenced a rebrand to embody what Zuckerberg believes is the new digital world. Due to issues, like data privacy; the purpose of the rebrand is to focus on building a “metaverse” which will safely connect the virtual world in these future private times.
It appears very likely that the name change is at least, in part, Facebook’s attempt to distance itself from negative news and backlash against the company. Between concerns about privacy, recent whistleblower revelations, and countless other claims against the company in the last year, the Facebook brand has been surrounded by negativity. Facebook seems to be attempting to switch the script and redirect coverage where the company wants it to go.
Facebook has been vocal about challenges related to the Apple iOS 14 updates and is struggling with measurement. Facebook has reported Q3 revenues are below projection, which has been attributed to advertisers challenges around measurement and tracking with the Apple changes. The Meta rebrand is a way to turn consumer focus to something positive and keep the public optimistic about the future of social media.
If you are an advertiser or brand seeking answers around this change, please feel free to contact us through our website and we would be happy to discuss the changes further with you.
This blog post was written by Colleen Winterling, VP, Digital – Charlotte Gardiner, Integrated Media Planner/Buyer – Maddi Sacks, Digital Planner/Buyer