How Facebook's demise will change digital advertising - and how your brand can adapt

The opinions expressed by entrepreneurs contributors are their own.

Facebook is in trouble. Social media platforms need constant growth to survive, but Facebook is no longer growing. In fact, it is losing users. As Facebook's core platform slowed down, Mark Zuckerberg made the fateful decision to focus on the metaverse, going so far as to change the company name, mission statement and stock symbol to reflect this news. direction.

The public response was quick and decisive: people don't want the metaverse, and especially not a half-baked version of Facebook. Even among those who are excited about the potential of virtual reality, there is a sense that Facebook's technology has been state-of-the-art for decades. And so people are leaving Facebook. Today, META's stock is down about 70% from its highs.

This exodus will have a profound impact on digital advertising. Facebook has long been the go-to platform for marketers looking to reach young people, and its targeting capabilities are unmatched. But as Facebook stops growing and users spend less and less time on the site, companies will start looking elsewhere for their digital advertising needs.

Therefore, brands will need to find new platforms to reach their target audiences. They will also need to place greater emphasis on user privacy, as the public is no longer willing to tolerate Facebook's cavalier attitude towards data. Additionally, with the rise of ad blockers fueled by Facebook, brands will need to find ways to reach people who don't rely on traditional display advertising.

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When Facebook was first launched, it was a new way for businesses to reach their target audience. There was nothing else like it, and so businesses flocked to the platform. But there are now many other social media platforms, and businesses will need to spread their advertising budgets across multiple sites.

It won't be easy, because each platform has its own quirks and capabilities. For example, TikTok is popular with young people, but it doesn't have the same kind of targeting capabilities as Facebook. And although Instagram is owned by Facebook, it has a very different user base and feature set.

Advertising on Twitter is an entirely new Pandora's box. Following Elon Musk's acquisition of the platform and the subsequent removal of content restrictions put in place to appease advertisers, Twitter is now something of a Wild West. Many advertisers have pulled their budgets off the platform, but those who remain are finding they need to adjust their strategies.

Google is another behemoth for brands to consider. Although it is not a social media platform, its search and display advertising business is still huge. Like Facebook, however, advertisers face fake news and bots on Google. The company is also involved in antitrust investigations, which could lead to stricter regulation of its advertising activities.

All of this to say that brands need to be nimble and adaptable in the post-Facebook world. They must be willing to experiment with different platforms, and they must have a clear understanding of the strengths and weaknesses of each.

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