Even after almost two decades, Facebook remains the largest social platform in the world. By the beginning of 2023, Facebook hit a record: it engaged more than two billion daily active users from all over the world. To add, as Facebook evolves, the Facebook business Advertising strategies that businesses need to take up change.
One of the major Facebook trends in 2024 was the rising use of Artificial Intelligence (AI) tools. AI made it possible for ad targeting to be very personalized, vastly improving the quality of ad recommendations for users. It also underlies new creative tools, such as auto ad building and video creation kits for advertisers.
Beyond AI, other emerging Facebook trends for 2024 include:
- Increased shopping features to facilitate e-commerce transactions within the app
- More emphasis on short-form video content to compete with TikTok
- New monetization options for creators to earn from their Facebook content
- Privacy changes provide users with more data control
As Facebook continues developing its advertising options and user experience, only the most savvy of businesses will find that they have to constantly reevaluate their Facebook business advertising strategy. That’s where the trendiest Facebook updates for those aiming to reach their 2024 target audience on the platform will come in handy.
8 Global Trends That Will Affect Meta Ads In 2024
Trend 1: Short Videos
Reels are short videos that have gained tremendous popularity on Facebook. The company says the number of reel views and reshares has doubled over the past year. Reels will remain a key area of focus going forward for Facebook, even though at this point, they do not have a direct monetization path for Reels views.
Already, it’s allowing Facebook business advertising in Reels either through Creator Reels or by building your own Reels ad. Expect many more advertising options for Reels as the company aims to monetize the format finally.
Trend 2: Live Selling Fades, But Facebook Shops Grow
For now, Facebook has already stopped the live shopping streams because it simply didn’t catch on as expected. But Facebook still doesn’t give up on social commerce and stays by the power of Facebook Business Advertising.
Assuming there are no live streams, businesses would still conduct selling activities of products directly on Facebook through a Facebook Shop. With more forecasted years, more people would shop through these Facebook Shops. Business Facebook Ads Manager or Facebook Meta Ads Manager will provide you with the tools needed to manage all your Facebook business advertising and set up a Facebook Shop.Â
Finally, with short videos and social shopping coming up, the essence of changing Facebook’s business advertisement strategy is going to become an inevitable requirement.
Trend 3: More Verified Accounts on Facebook and Instagram
Meta, the parent company of Facebook and Instagram, has now introduced a new subscription, “Meta Verified.” In this paid subscription, any individual will be able to get a blue verification badge on his or her account after spending $12 to $15 monthly.
This sought-after blue checkmark used to be a privilege granted to celebrities, public figures, and brands. But now, ordinary users can pay to receive verified status on Facebook and Instagram only if they live in some countries, such as the USA, Australia, or New Zealand.
For now, only the individual personal account level can be Meta Verified. But this will, over time, bring Meta Verified to businesses through this paid program.
Brands enjoy some benefits of verification, but they cannot for now subscribe. For example, it will be easier for brands to find and work with creators under verification, as they will know that they are using the real account of the actual human being.
As more and more users get verified badges through Meta Verified, this adds to the credibility and trust signals for those accounts accredited on both platforms.
Trend 4: AI Will Help Create and Discover Content
This is the kind of latest hotness, artificial intelligence tools like ChatGPT. Facebook is investing big into AI technologies, which could fuel new “creative and expressive tools” for users, including AI automatically creating images, videos, and other types of content that can be useful in Facebook Business Advertising.
Trend 5: AI Simplifies Ad Targeting
Facebook is also using artificial intelligence to boost its ad-targeting prowess within the Facebook Business platform. The “Advantage+” campaigns from the business Facebook Ads Manager will make it easy for advertisers to reach clients easily and therefore have repeat orders. The AI-powered system will be able to analyze just a few inputs about your products or audience and then optimize the ad to get in front of the right people automatically.
Facebook says its AI-powered ad campaigns are driving over 20% higher conversions in early results while costing businesses less. With AI advancing, businesses can expect its bigger role in automating content creation and smarter ways of delivering ads for effective Facebook business advertising through the use of business Facebook ads manager tools.
Trend 6: Creators Can Grow and Earn on Facebook
Instagram and TikTok are the hotspots for content creation, while Facebook is trying to make its presence felt by doing its bit to be more appealing to creators. “Professional Mode” is part of a suite of tools now available to all Facebook users.
- Earning from Reels videos
- Getting paid Stars from fans during live videos
- Running ads within their content
- Offering paid subscriptions
And while some brands may scale back their influencer budget, Facebook may create an opportunity for small businesses to afford the services of creators. Furthermore, the creators on Facebook have a lower follower count compared to the creators on other apps.
Trend 7: Chatbots for Better Customer Service
Facebook started investing in the development of artificial intelligence (AI) for “AI personas” capable of carrying on natural conversations. It could mean that the AI conversation technology may power chatbots competent enough to take over customer service.
So, only 26% of businesses use chatbots in customer service through social media at the moment. AI chatbots, however, can understand and answer even more complex customer questions, and therefore, the waiting time is supposed to be cut down
Trend 8: Finding Communities Just for YouÂ
Facebook also uses AI to recommend the most appropriate Group or community to join, depending on a user’s most carried-out activities and interests. This, therefore, makes it of great importance for your brand to either create or join groups in line with its Facebook business advertising strategy.
Groups are a way to build a community, share helpful resources, and increase brand loyalty, not to push sales directly. Tools with the Facebook Meta Ads Manager help in managing their presence across the features of Facebook.
ConclusionÂ
With Facebook constantly growing through AI, creator tools, and community building, it will require businesses to shift to transforming their Facebook Business Advertising with the trends, such as AI ad optimization, working with creators, using groups, or deploying chatbots, to stay ahead on the platform come 2024.