It’s been a tumultuous few years for Meta and its social media platforms: Facebook, Instagram, and WhatsApp. Recent headlines about mass layoffs and shrinking revenue have revealed the company’s struggles alongside other giants in the tech industry.
With companies slashing online ad budgets amid inflation and other financial uncertainties, should brands take advantage of cheaper Meta ad space? Or is Meta no longer a relevant platform for social media advertising?
Here are three questions you have about Meta ads in 2023, answered.
Are Meta ads still relevant?
The short answer is “yes.” As of 2023, Facebook still boasts nearly three billion active users — that’s two out of every three total social media users around the world — making it the social platform with the most active users. Meanwhile, WhatsApp and Instagram are the third and fourth most popular social media platforms, each having two billion active users. (In case you were curious, YouTube holds the second spot at 2.5 billion active users.)
Overall, while other platforms may rise to prominence in the coming years (like TikTok, which is fast-approaching in the sixth spot with 1.05 billion active users), Meta’s large user base, expansive ad targeting capabilities, and robust suite of tools continue to reign king in 2023.
As people continue to use social media to discover, learn, and buy products and services, brands have the opportunity to leverage these channels to target and tailor their messaging to large and engaged audiences with specific demographics, behaviors, and geographic locations.
Has Meta’s advertising capabilities declined in 2023?
Meta and Apple’s privacy dispute has caused marketers to fear for their campaign targeting capabilities. In 2021, a change in Apple’s iOS to limit how apps could track user behavior led Meta to announce that the shift would cost $10 billion to address, with small businesses that advertised on their platforms suffering the most.
Since then, Meta has invested in building better advertising tools, such as AI-powered campaign management, that don’t require tracking users. Similarly, they’ve improved tracking, measurement, and attribution, which were previously impacted by iOS 14.5.
Overall, while Meta’s advertising capabilities may have taken a dip in the last few years, it’s certainly rebounded.
What are some top tips for Meta ads in 2023?
When it comes to launching Meta ads in 2023, whether on Facebook or Instagram, keep these top tips in mind:
Invest in your creative
With users now accustomed to scrolling past ads on social media, it’s crucial that you move away from lazy creative (e.g., a product flatlay with a headline) and actually invest in performance-based storytelling that resonates with your target audience’s needs and wants.
Leverage a video-first strategy
TikTok has altered the social media landscape and made consumers more likely to pause for short-form videos over static images. Building a video-first strategy (e.g., on Instagram Reels and Stories), sprinkled in with carousels and other images, will be essential for boosting engagement.
Explore different messaging strategies
From testimonials to social proof, and value propositions to promotional deals, make sure to seize the opportunity to A/B test different messaging to see what works best at attracting your target audience.
Prioritize first-party data
More privacy-related changes may come down the line, and the best way to protect your brand is by prioritizing first-party data. Having this trove of information will also help you build lookalike audiences and retargeting campaigns on Meta platforms, regardless of how their audience and targeting may be impacted.
Social media is one of the fastest-moving spaces in the advertising ecosystem, and it can feel overwhelming to try to keep up. We’re here to help — for more than 25 years, Power Marketing has helped brands around the country build winning multi-channel campaigns that not only drive conversions but nurture loyal customers over time.
