Home » Will the renamed Facebook be extremely elegant? -FT中文网

Will the renamed Facebook be extremely elegant? -FT中文网

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A few days ago, the news on the screen was that the social media giant Facebook said at the Facebook Connect conference that the company changed its name to Meta, focusing on the establishment of “metaverse”. The previous VR glasses brand Oculus brand name will also be cancelled. The company’s stock code will also be changed to “MVRS”, the abbreviation of Metaverse, starting on December 1. Whether this is a breakthrough after the recent Facebook scandals and weak performance, or the layout of the future brand upgrade battle, we don’t know, but what we can see is this week’s intensive North American social media quarterly report for the third quarter. In China, the decline in the performance of online social media and the future shadow of privacy and antitrust investigations have evaporated tens of billions of market capitalization of various technology stocks that were once doomed.

Perhaps Facebook’s name change was an act that had to be done to counter the negative reports of the Facebook profile formed by the Wall Street Journal and other media alliances. The counterattack has never been in place. For a while, she discredited Haugen’s identity as an employee, hoping to crack down on the credibility of the materials she provided, and then used the old feuds of traditional media and online media as an excuse, saying that it was CBS and The Wall Street Journal that had been obsessed with Facebook and started to “make the game” “Social software such as Facebook and Instagram is for negative and negative behavior. From the audience’s point of view, these reasons are not only far-fetched, but also have obvious intentions of throwing off the pot. They are not the correct way to deal with public relations crises.

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Then I studied the quarterly report released by Facebook this week, and found that this is a performance-driven brand upgrade. I am afraid that it has been planned for a long time. The recent scandals may be the last straw to be announced in advance.

According to Facebook’s third-quarter 2021 financial report, the company’s revenue was US$29.01 billion, a year-on-year increase of 35%, lower than analysts’ expectations of US$29.5 billion; net profit was US$9.194 billion, a year-on-year increase of 17%; earnings per share were US$3.22 . The impact of the slowdown in revenue growth mainly comes from the decline in advertising revenue. In the third quarter, the number of daily active users of Facebook reached 1.93 billion, and the number of monthly active users reached 2.91 billion. The daily active users of application families including Facebook, Messenger, Instagram and WhatsApp were 2.81 billion, an increase of nearly 11% year-on-year; monthly active users were 3.58 billion, an increase of 12% year-on-year. But in the past year, Oculus has been selling big, and Facebook has eaten up the “meta universe” bonus. Among them, non-advertising revenue in the third quarter of 2021 was $734 million, a year-on-year increase of 195%.

Since the launch of Apple’s new privacy rules, experts have predicted that social media that cannot monitor user habits will make it difficult for users to browse or buy online consumption behaviors after seeing advertisements on the platform. Therefore, they will be directly connected. Affect the revenue of social media advertising. Earlier, when users were asked if they wanted their activities in certain applications to be tracked, according to data from application analytics provider Flurry, only 23% of iOS users worldwide chose to accept tracking. But consumers who refused to be tracked by Facebook attracted the most advertising expenditures on all platforms, but after that, it would be difficult to track conversion rate data and report to advertisers. In July, Facebook itself issued a profit warning based on weak advertising revenue growth. From the perspective of Meta’s financial report that separates Facebook Reality Labs’ business revenue from other business revenues, the change to Meta also further highlights that Facebook’s focus on virtual businesses such as AR and VR is to build. The company with the new name will also recruit more scientists and engineers around the world to build the new business infrastructure of Metaverse.

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Apple’s new privacy tracking rules have not only affected Facebook’s performance. The stock price of Snapchat, which previously reported performance, has plummeted after the market, and Twitter and LinkedIn have also been affected to varying degrees. Only the advertising model and operating system are completely independent of Google, which is independent of iOS. Google itself also stated that Apple’s iOS privacy changes may not have a significant impact on its advertiser base. This is mainly because Google’s revenue-generating business modules are more diversified, and it has important first-hand data through search and video platforms.

Interestingly, as a veteran company in Silicon Valley, Google also experienced a name change in 2015. At that time, Google announced the establishment of a new company called Alphabet. The newly established Alphabet will become Google’s parent company, Google’s original Google X Business units such as Google Ventures and Google Ventures will also become subsidiaries of Alphabet, which ranks alongside Google. Google’s restructuring has expanded the connotation and extension of its business from the brand perspective, and at the same time introduced innovation and imaginative stock price appreciation effects, so it has become a case of good performance caused by the name change.

In response to Apple’s changes, advertisers have begun to build their own accurate delivery monitoring platforms. Taking the retail industry as an example, the major advertiser Wal-Mart has built an internal system for online advertising to respond to changes. Wal-Mart’s powerful first-party omni-channel data has started a few days ago, and customers can be seen more clearly than any other platform. Therefore, Walmart Connect of the internal system integrates online advertising and purchase activities in more than 4,700 Wal-Mart stores, and analyzes their strong and weak correlations. In addition to guiding Wal-Mart’s own advertising budget, it can also provide various types of fast-moving consumer goods in Wal-Mart stores and their sophisticated advertiser dreams to rely on fine and accurate monitoring data to determine which advertising campaigns are effective and which are ineffective. Suggest. Advertisers have clearly understood that their Facebook ads will only play a role in brand influence at the macro level in the future, but they cannot provide evaluation evidence and help at several advertising campaign levels. And this kind of self-built monitoring platform or relying on WPP, Ominicom and other large advertising groups to develop new systems will also become the daily operation of advertisers.

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We don’t know whether the name change will make Facebook extremely popular, but the like sign removed by the headquarters of Mountain View clearly tells us that the era of social media advertising dividends has been completely overturned in today’s increasingly strict supervision. The next competition will focus on the next battlefield. Zuckerberg employs more than a dozen personal and family public relations teams with everything from copywriting to photography and video. It is estimated that they have been busy recently, but whether it can turn things around and bring this former dragon slayer to the throne of Yuanshi Tianzun , We can only wait and see.

(This article only represents the author’s own views, editor in charge: Yan [email protected])

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