Social media giant Facebook recently revealed to the world it is rebranding as ‘Meta’, complete with a new logo and strategy for being at the forefront of anticipated changes to how people interact – both on a personal and business level.
The behemoth behind Facebook also owns the social media platforms Instagram and WhatsApp, but the company bills itself not as one that creates social media, instead as one that builds technology to connect people.
Beyond the fact that virtually every pub has a Facebook page, often at the exclusion of any other online communication with the general public, even a website, it is always wise to keep an eye on bold moves made by the world’s most influential companies.
There are several ways Facebook will change with Meta – some with significant implications for pubs and hospitality.
Arguably the original social media platform, Facebook has been confronting its ageing demographic for some time, finding strong competition for younger audiences through the likes of Snapchat and more recently TikTok.
Meta sets a goal to stop focusing on generic optimisation for all ages and audiences and specifically provide the best services for the 18-29 age bracket.
This demographic targeting – highly relevant to the hospitality industry – means greater business opportunities, and more potential younger customers to attract.
The improved targeting comes with a renewed focus on e-commerce, which means greater tools for businesses to reach audiences more effectively.
Of less relevance to most hospitality businesses, but certainly of potential interest in an increasingly online retail world, the introduction of ‘the Metaverse’ suggests future avenues for sales and reaching potential audiences.
The company has poured capital into next-gen technology, meaning it may be worth businesses with online retail getting better educated about how social media will integrate with e-commerce.
There will be a greater push on AR (Artificial Reality) and VR (Virtual Reality) integration, furthering the new focus on a younger audience, which will require some businesses to step up with new technology able to provide these kinds of experiences.
Finally, company CEO Mark Zuckerberg says he believes scrutiny is vital for larger organisations, and that how criticism of commercial businesses is received is reflected in cultural change.
This mandate is all too poignant in the wake of public criticism of the company’s involvement in the 2016 US Presidential election, and Zuck suggests such change will, over time, become more apparent in both public opinion and the way business as a whole is perceived.
The principle is, that embracing honesty and transparency may be the best way to win over the audiences of the future.
