# Facebook (Meta) & The METAVERSE — What it means for advertisers... Channel: Ben Heath Video: https://www.youtube.com/watch?v=m2au7CiyR-Y Duration: 9 min Language: English Words: 1791 Transcript page: https://viewrankai.com/tools/youtube-transcript/m2au7CiyR-Y --- [0:00] hi guys it's ben heath from lead guru and in this video i'm going to talk about facebook changing its name to meta the metaverse and what all that means for facebook advertisers at this very very early stage now before i get into it trying to very quickly ask you to smash that like button and of course subscribe to my youtube channel if you are new and haven't done so already i'll make sure you stay up to date with all facebook advertising or meta advertising whatever it's going to be called related stuff going forward so obviously this is a really big announcement in the facebook advertising world and [0:27] advertisers that are advertising you know their own businesses working for a company or people involved in the facebook ads agency side of things like like i am are we all sort of trying to think what does this mean and there's not a huge amount that we know at this stage a lot of it will play out but there's some interesting things so the firstly the name change okay facebook becoming better i think that makes a lot of sense facebook needed a a sort of a different name to encompass the suite of platforms um that they have available whenever i refer to facebook advertising i mean instagram advertising [1:02] as well or at least you know i used to and that could be quite confusing particularly people who aren't involved in the industry they'd be like oh do you do instagram as well and i kind of say oh yeah no like it's all one thing whereas if in a few years time instead of using the word facebook advertising we say we're a meta advertising agency which might well be true people may better understand that that covers both facebook and instagram potentially whatsapp in the future and things like that so i think the name change makes a lot of sense i think for the time being it's not [1:32] going to be referred to as meta advertising that may well come in it's still going to be called facebook advertising that's going to take some time to come through so i'm not sort of updating our website instead of a facebook ads agency we're not going to be a meta ads agency not for a while at least but i think that's a good thing that makes sense it's also if i think about it potentially a little bit cynically facebook changing their name might be a bit of a publicity related thing bit of a pr um point because we know that facebook have been receiving pretty negative press for [2:01] the last few years um lots of things coming out around privacy issues around algorithms and all that sort of stuff so a name change i think from their point of view makes a lot of sense what so that's the first part of it the next part is the metaverse and what facebook want or i should say meta now what metal want um their main thing to become and what does that mean for advertisers well obviously it's all speculation at this point i think that what facebook think i should say meta that the term technology is going to get confusing what the previous facebook company are looking to achieve and they've talked [2:41] about targets like getting a billion users and creating this sort of completely virtual world in which people are doing things um in the metaverse as opposed to in real life or sort of what they'll start is with replacing the digital aspects of regular life and they want that to occur in the metaverse i think they're going to find it much harder to get people to adopt that and start using it from a user standpoint than they think i think that's gonna be more difficult it's gonna take more time i think there's gonna be quite a lot of resistance people struggle with it we know that companies that have forayed [3:16] into trying to do you know 3d glass related stuff and any sort of augmented reality virtual reality they've come up against some hurdles around adoption they found it quite difficult so can facebook make this happen of course they can almost they can better make this happen of course they can they have an almost unlimited war chest with which to operate but is it going to happen overnight might not even happen at all i would not be at all surprised to be creating a video in four or five years time being like do you remember the metaverse and how that all disappeared i would also not be surprised if it becomes a regular [3:49] part of most people's lives it could completely go and and then anything in between but i do think it's going to take time it's not like we're all going to be using this and living our lives through it in 18 months time i absolutely don't think that's the case it's going to take longer than that what this means for advertisers at the moment is basically nothing um there may well be significant opportunities to advertise within the metaverse going forward in facebook's um publications and communication around the metaverse and what they're looking to do they have talked quite a bit well no they've actually only mentioned it but [4:26] it talks quite a bit about all what's going to include and made a few small references to ads now i absolutely think that's how they're going to monetize this that's how they're going to operate this from business standpoint they just didn't want to overly emphasize that fact but they mentioned it in there and there's no way it's gonna be a small side part for them it's it's how they're gonna they're gonna make money from this so i think that um that is likely if this takes off to be significant opportunity for facebook advertisers to be the first ones to jump on this and what we might see at the beginning [5:00] because this happens with a lot of advertising platforms is that impressions and reach is really cheap right at the beginning so might be something you really want to jump on as advertising within the metaverse starts to to take off and become a thing change creates opportunity there's lots of people in my industry that are worried about this they have ways of doing things that work now they don't particularly want it to change too much although facebook advertising itself has changed an enormous amount of last few years continues to change and change creates opportunity it yes it can be difficult to adapt but if you're one of the ones that can [5:34] adapt and is on the front um of that process it creates a competitive advantage because if things always just stayed the same while everyone would kind of figure out best practices they would implement best practices and everyone would just kind of get the results that are there to be had there would be no competitive advantage for being like oh i figured out a new way to make this work under the new circumstances so whether you're involved in the agency set up or you just advertise products or services yourself change creates the opportunity for competitive advantage because if you can work out how to get good results with [6:07] the new system that you set up faster than other people that's competitive advantage and competitive advantage is super important with any advertising wanted to be able to scale all that sort of stuff so i'm kind of looking at this at the moment as a positive either way there's kind of two ways this is likely to go with the metaverse it's either going to become this big significant thing that facebook now meta hope it is in which case is going to be an enormous amount of opportunity that i'm very much going to want my agency to jump on and evolve with how this is changing or it won't really become a thing in [6:39] which case we can stick to what we're doing right now which is working really well on facebook ads and instagram ads and maybe in the future and whatsapp ads as well so i think it's mainly positive for the rest of the industry we have been getting bad press well facebook's been getting bad press and you know those of us that have businesses that are related to facebook that's not beneficial um so this is on the whole a good thing can be a little bit scary it can be a little bit uncertain but i think um i think it's likely to be positive in which way it goes i'm not convinced like [7:13] it's not one of those things where they launch you go yeah that's going to be huge maybe maybe not i think it's a big a big bet that they can absolutely afford to take they have huge funds to be able to make this work and um we will see definitely interesting and exciting times okay a couple of things i want to mention um before you go the first is my free facebook group so i've got a facebook group called the facebook ads mastermind group it's currently got 132 000 members one of the biggest communities absolute biggest in the world of facebook advertisers and if you want to connect with other facebook [7:46] advertisers now maybe meta advertisers um ask your questions get them answered save yourself a bunch of time great place to to be so go ahead and join completely free i'm in the group every day and links in the description below other thing i want to mention is youtube channel membership so you can now become a member of my youtube channel and members get priority replies to comments so if you're leaving comments on my youtube videos i just cannot get to them all there's too many um i do read them all but i just can't respond to them all so i'm prioritizing replying to people who are members who [8:17] leave comments so it's a small monthly fee to become a member help support the channel help me create more content and i will prioritize answering your comments which i know could be super important if facebook instagram advertising is important to your business if you found this video useful please give it a thumbs up please comment below to uh to let me know and um subscribe to the channel of course thanks a lot guys bye for now --- About this transcript Read from 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