Facebook has proven itself to be more than just a social media platform for the longest time. There is no doubt that Facebook is now also one of the leading marketplaces. Having more than 2.7 billion active users, the company understands its potential which is why periodic changes are done to create more ease for both the buyer and the seller. As the business on Facebook increased and businesses started using Facebook as their sole marketplace, in the year 2021, Facebook opted for new ways and introduced some major changes to improve its functionality.
We discuss the changes Facebook made to improve ways to help grow its marketplace. So, read along and let’s see how practical these changes are.
Special Ads Category in Facebook Ads
Facebook’s special ads category is a new feature where you can add links to housing, credit, internships, or job opportunities. Facebook created this category to ensure anti-discriminatory practices in advertising in terms of age, gender, race or other differences. These ads were brought by Facebook because of the long-running history of discrimination in the housing, credit, and employment area.
The ads show credit card offers, financing, mortgage loan, refinancing, personal, business, or auto loan service ads, and much more in the credit category. In the employment category, there can be ads for full-time or part-time work, internships, professional certificate programs, ads about job fairs, ads about specific companies and the benefits of working there. Similarly, in the housing category there are ads about housing loans, sale or rental opportunities, insurance, housing repairs, or home equity or appraisal services.
If you want to create your ads on Facebook, all you need to do is learn to run Facebook’s ads manager and have a good internet connection. After accessing the add manager you click create, then select the relevant category, then you customize your targeting options and follow with ad placements, budgeting, and scheduling.
Facebook Live Video (Live Chat)
Facebook live videos can be used in several ways to market your business or even sell products live. Many online pages on Facebook use the live video option to engage with their audience. While this option was there for a long time, creators can now block or restrict comments and people through filters. They have blocking options now, to keep more control over who is engaging with their content and how. You can live stream anything, events, performances, gatherings, buy and sell sessions, behind the scenes events, and whatnot.
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iOS 14 Update For Privacy
This update increases security for Apple users but is not very good for those who post ads. iOS 14 changes significantly impact how Facebook receives and processes conversion events. With iOS 14 and beyond users can decide and have the option to not allow their data to be tracked across apps. This impacts the campaigns on Facebook that gather data and build their marketing strategies based upon the consumer’s data. In simpler words, when businesses know people’s interest in their products, they can build a more effective strategy.
While the privacy update was important, what businesses can do now is, verify their website domain, prioritize their events, rethink their audience building, use reach or click-based optimization, verify their pixel implementation for dynamic ads, and update their Facebook SDK for iOS 14 version 8.1. By changing their ways and marketing strategies, and building them around this new update, businesses can again market their products well.
Facebook Changing Its Name To Meta
Meta is going to be super beneficial for businesses on Facebook with the new and infinite possibilities of augmented and virtual reality. Facebook is shifting to Metaverse gradually and Facebook, and Instagram will be the first platforms to be using this feature. The Metaverse will enhance physical and virtual world experiences by bringing everything virtual to the physical world through augmented and virtual reality.
Businesses are already using augmented reality by dropping furniture in their houses virtually and seeing how it looks before buying it. Similarly, before buying clothes people can try them on and see if it suits them. These possibilities while buying something, improve the user’s experience, making them come back to your shop again.
Keep Up or Perish
As technology evolves, the world around changes itself. Some of the things about the future are as exciting to us as it was when smartphones first came out. While a lot of people believe that technology might bring horrible wars in the future, right now all we see technology doing is making things easy. When it comes to business-related technological changes, Facebook has been on top of the list and this platform has proved to be one of the most effective business platforms on the internet. These changes on Facebook have, and will make it easier for businesses to market their business online.
