What is Facebook's New Meta and What Does it Mean for Marketers?
Meta? I’m sure you have heard that term being tossed around lately in the social media world. Facebook is now Meta... But, what exactly does that mean?
Meta and the Metaverse are the new terms that are giving us a glimpse into what could be the future of social connection. Meta’s focus will be to bring the metaverse to life and help people connect, find communities, and grow businesses.
The metaverse is going to be a hybrid of what we are already accustomed to in the social world paired with a three-dimensional/virtual reality world. It will let you share immersive experiences with other people even when you can’t be together and do things together you couldn’t do in the physical world. Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology.
While the Metaverse is still a ways away, there are parts that are already emerging and some that are on the horizon. Now the next big question for all of us in the social media space is, what exactly does this mean for marketers?
Meta and the metaverse are going to be a huge game-changer in the digital world. While social media marketing won’t be going away in its entirety, we are going to have to steer away from Facebook ads and common methodologies we are used to. Positioning ourselves in this new digital world will be extremely important and there are a few things that we will need to focus on.
The first is community. Now that may not sound new because we already emphasize the importance of community in the social media marketing world, but it's going to be that more important in the new digital world. Making sure that you can connect with a wider audience you have ownership over is CRUCIAL.
2. Digital Assets
Another important aspect that we will need to take into consideration is digital assets, or NFTs (non-fungible tokens). These digital assets could be a good way for companies/brands to develop their value and expand their communities in the metaverse. Each NFT is a completely unique digital asset — unlike bitcoin, which is interchangeable. An NFT can take the form of parcels of virtual land, music, or digital art.
Lastly, marketers will need to focus on decentralization. The future of marketing will be looking away from current centralized platforms, like Facebook and Amazon, and instead focusing on new decentralized systems. Decentralized networks built on blockchain can help ensure no single entity has control over a given technology. Instead, it will be open-source, interoperable, and controlled by the masses.
Right now, we are still in the very early stages of what the Metaverse is going to be. Because this is new territory, we won’t exactly know what the future of marketing will look like. However what we can do is start having conversations, educating ourselves, and developing our knowledge about Meta and the Metaverse.