Facebook’s Rebrand & How It Impacts Advertisers
Mark Zuckerberg recently appeared on Facebook’s annual “Connect” conference stream to make a big announcement: Facebook is changing its name. Facebook’s new name will be “Meta”, and the change comes with a whole host of other rebrandings. Most prominent is their new logo, which resembles an infinity loop in the shape of the letter M. But what does this rebrand really mean for the social media giant? What sparked this change in the first place? And how will it impact advertisers who utilize Facebook as a platform for ads? We’re here to delve into all these questions and more.
It’s All In the Name
Let’s take a step back. Facebook isn’t going away, the social media platform will exist in its current form with its current name, logo, and branding. The name Meta is now the name of the parent company that oversees not only Facebook but a wide variety of other products and services. For example, Facebook owns other huge names such as Instagram, WhatsApp, Oculus VR, and more. Rather than all these companies belonging to a company named Facebook, they belong to Meta. In fact, Google underwent a very similar rebrand back in 2015. Previously known only as Google, the company rebranded its corporate name to “Alphabet”. Facebook’s name change is similar in this sense, as Facebook is another massive main product that will now be considered under the umbrella of Meta.
Facebook will still exist in its current form, just underneath the new corporate name Meta. Got it. But why would Zuckerberg and his company move in this direction? To figure out why we have to look at the bigger picture. Zuckerberg and Facebook alike have a vision for the future of social media and technology as a whole, and they want to start building toward that future now. If they wait too long, they risk being seen as playing catch-up to competitors. In Zuckerberg’s hour-long Connect conference appearance, he expressed Facebook’s desire to be at the forefront of what they see as the next big thing in technology, something called the “Metaverse”.
What Does the Metaverse Look Like?
The metaverse is a collection of virtual worlds that allows people to connect with each other even if they’re not in the same room. Think of virtual reality headsets and glasses that will allow you to be transported to different worlds in a variety of different applications. For example, instead of a Zoom meeting at work, what if you put on your virtual reality headset and feel as though you’re in the same room as your work colleagues? Or, for entertainment, what if you could watch a digital concert while sitting next to your friend who lives halfway across the world? These types of scenarios are what Zuckerberg and Facebook see as the future of not just social media, but as the future of our relationship with technology.
How Will This Impact Advertisers?
Advertisers have a unique opportunity to create new and innovative advertisements to be integrated into the upcoming metaverse. For example, imagine a virtual city hub that users can visit and see actual brands being advertised on storefronts or digital billboards. Clothing brands could have their real-life products recreated in the metaverse and available to purchase for your virtual metaverse avatar to wear. While the concept of the metaverse is very new and abstract, it presents a unique opportunity for advertisers to consider what would work well as an advertisement in the metaverse.
The metaverse is still a ways away, Zuckerberg himself admitted as much in his Connect conference appearance. He expects the metaverse and the technology supporting it to take at least another 5-10 years before it becomes mainstream. However, this is a rapidly growing part of Facebook’s business that advertisers should keep a close eye on moving forward. If you’re interested in partnering with a team that can assist with your marketing campaign, look no further than TriSpark Media. Reach out to our team of talented advertisers and marketers who can work with you to help your business stand out among the rest.