Meta Latest News: Facebook & Instagram Advertising Update
Facebook is one of the biggest social media platforms in the world. Understanding the latest update helps marketers / advertisers plan a more effective strategy.
Although these updates don’t change the overall Facebook Marketing landscape, there are some significant changes that may impact the media buy strategy of marketers / advertisers for Facebook and related platforms like Instagram.
Below are major updates from Meta. (Last Update: 4 May 2022)
To help improve the interactions between small businesses and their customers, and how they generate leads, Meta announced the plans on May 4 to roll out several new features for their messaging and ad tools.
Meta plans to launch tools in the Whatsapp Business app, which will allow businesses to create Facebook and Instagram ads that lead directly to a Whatsapp chat. Whatsapp Business will also be integrated with Facebook Messenger, and Instagram Direct into the Meta Business Suit inbox, bridging across the communications and advertising functionality on all three platforms, streamlining the business process.
What’s more, Meta is testing a feature in Meta Business Suite that enables businesses to send marketing messages to customers through Facebook Messenger, creating more opportunities for small businesses to further bring in customers and sales.
Aside from the efforts for enhancing business communications and advertising activities, Meta is formulating ideas for expanding lead generation tools as well. Several select companies are able to test out “Get Quote” buttons on Instagram profiles or “Get Quote” stickers in their stories, allowing customers to fill in a short questionnaire to get a probable quote quickly.
Meta’s Lead Ads Instant Form will soon support companies to add visual information to the form, filter leads, and offer exclusive and additional resources to users who have completed the form. With the introduction of CRM partners integration, all the lead information can later be downloaded into businesses’ CRM.
If you would like to know more about the social media ads service, contact us for the details.
Meta has announced plans on April 11 to launch new tools for their content creators on their metaverse platform Horizon Worlds, which enable them to sell virtual goods or experiences in the game.
Horizon Worlds is a virtual reality (VR) game exclusively available on the Oculus Quest headset in US and Canada regions for users at the age of 18 or above for free, featuring gateways to numerous user-generated shared spaces. The new monetization tools, which Meta has already begun rolling out for testing, will hopefully create opportunities for the content creators and new businesses to find and explore new ways to earn profit through the game platform, while game users can purchase newfound digital or virtual products in exchange, enhancing their immersive experiences in between the virtual worlds and communities through metaverse.
Further to the launch of in-game purchases, Meta also introduced a new Horizon Worlds Creator Bonus program, akin to the Reel Play bonus program which was introduced back in March to let content creators monetize their reels by views. The Horizon Worlds Creator Bonus program will begin testing in the US, the creators who join the program will be rewarded the bonuses by the end of each month, depending on their progress towards reaching the goal. And Meta will continue to develop new goals for the participating creators.
Meta confirmed during March that they are officially partnering with third-party platform Zefr to develop the plan to ensure that the content appearing alongside the ad in the news feed suits the preferences of advertisers, and will look to further expand the coverage of the content verification.
Last year, Meta made announcements to grant more control over the news feed to the advertisers who run ads in English by including Topic Exclusions controls and mentioned the plans to work with third-party brand safety partners to verify content placement for brand suitability, this decision comes to align with the principles set by Global Alliance for Responsible Media (GARM), which are to create an ad-supported social media environment with reduced inappropriate content for advertisers.
After a careful screening process, Meta decided to partner with Zefr and will start to test in a small-scale setting in the third quarter of 2022 with the introduction of the suitability measurement product. This suitability measurement product, which is currently still in development state, will help advertisers look into types of content adjacent to their ads, so they can plan their next step of implementation for their overall marketing goals.
Aside from the decision to partner with Zefr, Meta announced that they will continue to expand and build further controls for advertisers to decide what content they wish to position next to their ads.
Meta announced their decision to make a significant change to the setup of ad campaigns in late December last year, in hope to streamline the setup process for the advertisers, and better achieving their primary marketing objectives.
What the change entails is that Meta will trim down the selections of objectives from 11 to 6 within the ad campaign setup, moving the ad campaign setup process towards an outcome-driven ad experiences (ODAX) model. Originally there were 3 main categories for campaign objectives, which were “Awareness”, “Consideration” and “Conversions”. Underneath these 3 main categories, a total of 11 options were available for advertisers and marketers to choose from to start their campaigns. But many options can leave the advertisers disoriented and confused. Therefore, with the ODAX model, the objective options are reduced and optimized to “Awareness”, “Traffic”, “Engagement”, “Leads”, “App Promotion” and “Sales”. These simplified options can tailor the setup process to meet the advertiser’s precise marketing goals more easily.
Upon eliminating redundant options to avoid possible confusions that hinder advertisers from reaching objectives, this new change based on the ODAX model will look to enable cross-channel campaigns, removing unnecessary and duplicated steps for cross-channel setup. Moreover, the Ads Manager will be able to provide more accurate guidance that can cater to advertisers’ needs after their objectives are better communicated.
The landscape of cryptocurrency has become more well-established over the years, with countries worldwide having developed multiple clearly defined rules and policies to govern the growth of legitimacy in the virtual currency. Seeing this positive change, Meta decided to adjust the eligibility for conducting cryptocurrency ads on Facebook, starting in December 2021; helping advertisers further reach their potential audiences.
Facebook has set a stricter policy on running cryptocurrency ads before; advertisers are required to apply along with information on the licenses they possess, experiences with stock exchange trading and whether they have any public background in their businesses, and the number of qualified requests accepted by Facebook was only 3.
Now Meta extended the number of eligible licenses to 27 and includes the list of these licenses on their policy page for advertisers and users to refer to, easing up the way for more companies to promote cryptocurrencies.
Meta maintained that while the number of eligible licenses is expanded, a significant number of advertisers that look to promote specific services related to cryptocurrency will continue to require prior written approval for the time being, such as cryptocurrency exchanges and trading platforms, platforms that provide services of cryptocurrency lending and borrowing, cryptocurrency wallets, and cryptocurrency mining hardware or software.
Upon receiving various feedback regarding the requirements of social issue ads, Facebook announced changes towards its policy of social issue ads in November last year. Some ads will not be required to go through the authorization process and have the “Paid for by” disclaimer upon the changes.
Facebook set up criteria to determine whether the ad can bypass the authorization process and forgo the need to put on a disclaimer. If the ad references a product or service heavily with a primary goal of selling that service or product and includes a call-to-action for acquiring that service or product, even though it may contain content that advocates for a particular social cause, it will be deemed as an ad whose primary focus is not on advocating any causes. Therefore the advertisers do not need to complete the authorization process and create a “Paid for by” disclaimer for their ad.
While Facebook is easing their requirements on primarily commercially motivated ads despite being run by non-profit organizations, the conditions are still imposed in their policy on political ads that involve politicians, political promotions for elections, and legislation in the context. Ads, which are about free service or product promotion; selling services or products that advocate the social causes and raise awareness of the social issues explicitly; or selling any services or products with an indicated warranty that all of the profits obtained will be donated for the advocated causes, will also need to go through the authorization process and include a “Paid for by” disclaimer”.
If you would like to know more about Facebook’s policy of social issue ads, read here for full details.
Facebook began testing and introducing the Topic Exclusion controls for advertisers to determine how their ad will show on the platform back in November last year. Specifically in the News Feed, the expanded rules can prevent ads from showing up next to unrelated content.
Three main categories of topics are available for advertisers to select for exclusion - news and politics, social issues, and crime and tragedy. Choosing one or more out of these three options can prevent the ad from appearing in the users' News Feeds who have just interacted with the relevant topics.
Facebook ran testing earlier to check with the topics for exclusion controls and found that advertisers could avoid the adjacency of each topic 94% or above of the time when any of the categories are selected to be excluded, showing the effectiveness of the Topic Exclusion controls.
This controls expansion for advertisers works in connection with the corresponding expansion for the Facebook users; they can decide how the ads can be delivered to them through Ads Preferences and whether they are in any of the three topic categories of the Topic Exclusion controls. In short, such changes allow customization and modification of the News Feed experience by businesses and users.