The latest version of the iPhone operating system launches on September 12th, 2022. Meta, Facebook’s parent company, has rolled out 3 new updates that could harm your business. With video ads overpowering static ads, running a successful Facebook ad campaign has become an almost unattainable goal.
If you want to stay on top of the latest digital advertising trends and improve your business’s ability to reach new customers, continue reading!
Facebook has removed detailed audience targeting options.
This update will grant users the ability to control what advertisements they see. Meaning the ads your business runs on the platform may no longer reach your target audience if they choose to opt out of similar ads. This expanded reach control granted to Facebook users may lead to increased cost-per-conversion and a total decrease in your business’s return on investment when running Facebook ads.
Converting your ad spend to qualified customers has become much more difficult for even the most experienced Facebook Ad specialist. With the new targeting options restricted, a new learning curve is added to the already over-complex business tools on the platform.
The Facebook ads you buy for the audience your business is targeting are becoming increasingly less profitable. As IOS 16 launches in the coming days, Facebook is guaranteed to feature more harmful updates to advanced audience targeting. Because of these recent developments, your business may suffer when it comes to using Facebook Ads as an advertisement platform.
2. Goodbye static ads, hello video ads.
As a part of growing competition with TikTok, Meta (Facebook’s parent company) has shifted its attention to Instagram Reels. And this shift is backed by data, TikTok ad spend is forecasted to surpass $11.1 billion in 2024. This staggering ad revenue was once only seen on Google and Facebook reporting, however, as video-based social media content grows exponentially in popularity, Meta has made the switch to promote Instagram reels and stories over traditional Facebook and Instagram posts.
This change massively affects your business. Meta users have become much more engaged with video content, creating a platform that over-values video ads. If your business is running ads on Meta that are static, your business is already at a disadvantage. Static ads are a relic of the past, potential customers are not engaging with them, and the meta platform has no interest in promoting them.
For your business to continue being successful, video ads are a must. The unfortunate reality is that creating successful video ads is more expensive and more costly to run than static ads. A loose-loose for businesses looking to continue using the Meta platform to reach potential customers.
3. Facebook ads are no longer do-it-yourself
Statistics and data reporting are the bread and butter of optimizing any advertisement and for good reason. Without effective tracking and data collection, it is impossible to know if your business’s ad is performing. However, sometimes less is more, but businesses that are using Facebook business tools are drowning in new features. In order to combat the frequent data privacy changes in ios updates, Facebook has released new, and much more complex reporting tools.
In the past, anyone with the willpower to learn how to run Facebook ads could be successful. However, in the present day, running a successful advertising campaign on Facebook must start with a rich understanding of the meta business suite. The Meta Business suite is stock-full of features and tools that are useful in the right hands, but for businesses that don’t employ a dedicated marketing expert, Facebook ads can be a time and budget waste.
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