It’s been a couple of weeks now since Facebook released a statement confirming they are rebranding to Meta. As the world reflects on what Mr Zuckerberg has said, let’s look at what this could mean for us both as individual users and as businesses who use the Facebook platforms for our digital marketing needs.
Let’s recap on what we know so far about the rebrand from Facebook to Meta.
Facebook, Instagram and Whatsapp as social media platforms are not losing their names. It is the overarching company name Facebook that is changing in order to incorporate the new vision and mission of Meta; the Greek translation of ‘beyond’.
Zuckerberg said himself it was slightly awkward and confusing having the company name the same as one of their products, and confessed that he had been thinking about rebranding the company ever since he bought Instagram and WhatsApp back in 2012 and 2014.
Facebook CEO Mark Zuckerberg said, “I think it’s helpful for people to have a relationship with a company that is different from the relationship with any specific one of the products”. We couldn’t agree more with this statement and acknowledge that this rebrand is a good decision for Facebook, which is obviously a rebrand that has been a long time coming.
The Facebook brand was so tightly linked to one product that it was impossible for the company to encompass and represent everything that the multiverse is doing today and into the future.
So what the heck is Meta up to?
In short, lots! Meta has ambitious technological plans to transform the digital space as we know it, and have already created new products to suit this change including the development of augmented reality, virtual reality and smart glasses.
With ultimate plans to unlock an entirely new economy of virtual goods and services through a real-world, virtual space, Meta’s vision is to create an “embodied internet” that immerses users in the experience of the metaverse through different types of altered and technologically created realities.
The hope for the metaverse is to create life where people can work, play, learn, exercise, while also being a place that helps people connect, find communities and grow businesses.
At the launch of the rebrand, Zuckerberg said, “We’ll be able to feel present – like we’re right there with people no matter how far apart we actually are”. A welcoming concept to today’s world where traveling to see loved ones is not so easy.
With many companies such as Meta and Microsoft already investing their time and money into developing a virtual space where users can shop, socialise and learn all through their represented avatar, socialising with your hologram friend from across the world may be closer to reality than you thought.
Is life as we know it about to change?
Don’t panic, you’re not going to wake up tomorrow and be an avatar, however, Meta does have ambitious plans for the future – Zuckerberg believes the Metaverse will reach a billion people within the next ten years.
He also announced the new Horizon marketplace which will be used as a wider metaverse economy and learning platform, supported by VR, AR, smartphones and laptops, as well as implementing more gaming technologies, suggesting that the popular game Grand Theft Auto will at some point be available in VR.
You also don’t have to worry about losing 10 years of photos and memories from your social media – as currently Facebook, Instagram, Whatsapp and Oculus are all staying the same, with the company focusing on how to adapt new technologies into the workforce. Oculus, a virtual reality company, will likely be a part of this new change.
We experience technological advancements every day. The concept of Augmented Reality and Internet Bots probably sounded just as daunting a few years ago as this metaverse does to us right now. However, as humans, we adapt and welcome these advancements, as they usually have their benefits.
As we welcome this digital frontier, our advice is to be open-minded and adaptable to these technological advancements and changes. When Facebook first launched, as digital marketers we were instantly intrigued by its capabilities and potential for businesses to connect with audiences in a new way. This business model is only getting bigger and better.
Meta has also pledged to invest $150 million in ‘immersive learning’ to train the next generation of content creators and to anyone keen to learn its potential!
Our other advice is to keep up-to-date with all the latest digital marketing industry news and consider elevating your business needs and offerings with dedicated marketing solutions. Do you want to stand out online and create conversations and awareness with key target audiences? Start a conversation with us today to see how we can help.