Facebook, owned by its recently rebranded parent company, Meta Platforms, is one of the most prominent social media platforms. And, it’s no surprise that Facebook is frequently seen in big news headlines – Metaverse and news feeds – with their far reach in the social media world
In this blog, Allen Marketing Communications, Inc., a boutique travel and lifestyle public relations agency based in New York City, will share recent trends about Facebook, including the Metaverse on this social media platform.
Meta Properties, the parent company of Facebook, derives its name from the term “Metaverse.” According to Oxford Languages, it is “a virtual-reality space in which users can interact with a computer-generated environment and other users.” According to Cloudwards, Meta’s version of the Metaverse involves combining social media and virtual reality to “be able to do almost anything you can imagine.”
Cloudwards states that the “company hopes to eventually phase out Facebook’s integration with other Meta services in favor of improving the Metaverse.” Eventually, there will be a seamless integration of Facebook into the Metaverse so there would be no more need for accounts to access the platform.
In the wellness industry, the Metaverse is presenting a new way for health conscious consumers to stay healthy and maintain their level of physical fitness while staying at home.
An Easier Way to Shop
Facebook provides its users with easy and fast ways to shop with both Facebook Shops and Marketplace. Facebook Shops allows you to create and customize your own online store on Facebook and Instagram, and customers and vendors can connect through What’sApp, Messenger, and Instagram direct message.
According to Hootsuite, one year after Facebook Shops has been introduced in 2020 because of the Covid-19 pandemic, the site has reported “one million monthly global users and 250 million active stores worldwide.” Some brands have even reported that their sales are 66 percent higher on Facebook Shops than on their own websites, maybe thanks to the ease of Facebook Pay.
Facebook Marketplace is another tool for consumers to use to buy and sell things; the main difference between Shops and marketplace according to Hootsuite is that consumers are using Facebook marketplace to look in specific geographic areas and most transactions involve the customer picking the product up in person. So if you’re looking to support more locally, marketplace may be the better choice for you.
Staying Connected During the Pandemic
Facebook has been at the forefront of staying connected during the Covid-19 pandemic, along with Zoom, with their Facebook Live function. The ability to broadcast live videos, news updates, and even concerts from home has allowed millions to find new and maintain old connections. In a survey conducted by eMarketer, it was found that 42.6 percent of respondents watch live video content most frequently on Facebook, second only to YouTube (52 percent).
According to HubSpot, Facebook Live lets users stream directly to the platform from their profile, a page, a group, or even an event. A recording of the video is posted to the page or profile so it can be rewatched, and while it’s live, viewers can share, react, and comment on the stream.
Facebook Groups Are on the Rise
Speaking of staying connected, Facebook’s recently updated Groups feature allows users to stay connected through communities of similar interests, whether it be for work, research, or just recreation. According to Hootsuite, the newest update in March 2022 allows group admins to keep their Groups safe, reduce misinformation, and make it easier for them to grow their Groups with relevant audiences. The new update even included QR codes that bring you to the Group page when scanned.
According to Oberlo, Facebook reported that, as of 2021, there were more than 1.8 billion monthly worldwide users participating in these online communities, which are managed by more than 70 million admins and moderators.
Add-ons For Ads
In efforts to increase transparency, Facebook’s Meta ad library will include summaries of targeting information for political, social, and electoral ads starting in July 2022, according to AdEspresso. The summaries will include demographic information, how much of their budget advertisers dedicate to each demographic, and whether an advertiser is using custom/lookalike audiences.
Messenger Ads allow businesses to create an ad on Facebook that will bring the user straight to that brand’s WhatsApp account when clicked to instantly chat. Soon, according to AdEspresso, businesses will be able to streamline this ad creation process by using the WhatsApp Business app rather than go through Facebook’s ad creation system.
Facebook Is a Moneymaker
Facebook Reels is another tool on the rise in the social media platform. According to Facebook, says Hootsuite, it’s their “fastest growing content format by far,” and they’re not just fun to watch, they can make you money, too.
Creators have the ability to monetize their public Reels with Overlay ads, which show up on the front of the Reel while it plays, like a banner ad. The more people engage, the more the creator makes – which can be up to $35,000 a month.
Meta Platforms, parent company of Meta, also owns quite a few other platforms that are very well-known, such as Instagram, WhatsApp, its own Messenger, and the VR company Oculus. The parent company is creating seamless integrations between Facebook and its other platforms
Our team of savvy social media and influencer marketing specialists are here to help companies grow on Facebook. We are here to help. Give us a call
By Marley Merrihew at Allen Marketing Communications, Inc.