Tag

Meta

Browsing

Meta has announced a heap of new ad updates, primarily focused on retailers and those using its automated Advantage+ campaigns.

And there are a lot of niche use cases within these new updates, which could apply to your business.

The first update is “Advantage+ creative optimizations”, which will automatically optimize your video ads for viewing on Reels, or the mobile Facebook and Instagram apps with 9:16 ratio.

Meta ShopTalk update

That will help more brands tap into the popularity of the various Meta video formats, with Reels being the key focus.

As per Meta:

Reels and video on our apps continues to grow as daily watch times across all video types grew over 25% year-over-year in Q4. In fact people now reshare Reels 3.5 billion times every day.”

The new process will also enable advertisers to dynamically create multiple variations of an ad, so the system then has more options to display to users, depending on what they respond best to.

Meta’s also updating its Advantage+ catalogue ads, with the added capacity to import and use branded videos or customer demonstration videos, instead of just static images.

Meta ShopTalk update

Advantage catalogue ads, which Meta first launched in beta testing last year, provide personalized recommendations to users, based on what Meta’s system detects that each will be most interested in, and this new process will provide more capacity to showcase relevant products within the display.

Meta’s will also now enable brands to upload a “hero” image in the centre of their catalogue ads, which Meta’s AI will then use to show people the best products from their catalogue to drive performance.

Meta’s also adding more eCommerce ad options, with users of Magento and Salesforce Commerce Cloud now able to create Shops ads within their management systems. Meta’s also integrating its Shops ads and branded content ads (now called “Partnership ads”), which will enable direct purchasing from collaborative campaigns.

And there’s also new elements in Reminder Ads on Instagram:

“Now, advertisers can include external links to a new product or sale in their Reminder ads to help turn a person’s interest into a purchase. This summer, we’ll also give advertisers ways to notify people when an event starts and before it ends.”

Meta ShopTalk update

Meta’s also looking to expand Reminder ads to Reels in the coming months.

There’s also new Promo Codes promotions on Facebook and Instagram, as well as ads with product tags:

“In March, we’ll bring ads with product tags to Facebook Feed (currently Instagram only), and in April, we’ll launch the global availability of ads with product tags to all businesses, whether or not they maintain a Shop.”

Meta ShopTalk update

Meta’s also updating its Collaborative ads offering, to provide more analytics on performance, while it’s also testing the ability for advertisers to use Collaborative ads with Advantage+ shopping campaigns.

Finally, Meta’s also working on Advantage+ Catalogue ads with omnichannel brand and product level reporting as a new managed service solution “to help RMNs prove that ads on Meta platforms drove sales online and in-store”.

So yeah, a heap of updates, all with varying levels of applicability and use. And while there may not be some huge, headline change that will get the most attention, there’s a lot of value for specific brands within these changes.

Sourced from Social Media Today

By Christianna Silva

Between a behemoth copycat and a looming ban, TikTok is being attacked on all fronts.

When Instagram releases a new feature that is a direct copy of another app, its users fear the worst.

In a 2022 essay for Digital Trends, writer Cristina Alexander lamented the “TikTok-ification of Instagram” because it “takes away the type of content people love most about the platform: photos from friends and family, as well as content based on their interests.”

“And it’s something I’m just about fed up with,” Alexander wrote.

But the doomsaying rarely lasts forever. Alexander joins the ranks of Kylie Jenner, Kim Kardashian, and a whole host of regular users — including myself — who have fallen into the cycle of hating it when Instagram makes a copycat change and then, after a few months, come around to it.

Like it or hate it, Instagram’s copycat strategy works — and its dedication to stealing features from other apps is helping to fuel its ability to overtake TikTok.

Think of Instagram like Kirby in Super Smash Bros. He’s a formidable foe on his own, but it’s using his Copy Ability by swallowing his enemies and using their own powers against them that makes him so powerful. Instead of finding and using power ups or prioritizing his abilities, Kirby uses his enemies as his own, personal power ups. Instagram — and other Meta-owned apps — swallow their enemies, take on their features, and use them to win. Instagram used this strategy to remove Snapchat from its list of significant competitors, and TikTok is next.

For the first time since 2020, Instagram overtook TikTok in new app downloads in 2023, according to data from market intelligence firm Sensor Tower reported by the Financial Times, making it the most downloaded app in the world. In 2023, Instagram downloads grew 20 percent in comparison to TikTok’s 4 percent.

This comes after Instagram launched Reels, a TikTok-esque feature that was originally panned by its user base but has now become a mainstay on the app. And it might be the inclusion of Reels that has helped launch the platform back to the top.

“Instagram has outperformed TikTok in adoption over the past few years, driven by the popularity of its Reels feature along with legacy social media features and functions,” Abraham Yousef, a senior insights manager at Sensor Tower, told the Financial Times.

Instagram’s successful copycat strategy might be the reason it is succeeding, but TikTok is facing a battle at all fronts.

President Joe Biden said that if Congress passes the “Protecting Americans from Foreign Adversary Controlled Applications Act” — which would ban TikTok and all other apps based in China, North Korea, Russia, and Iran from U.S. app stores — he’ll sign it into law. Lawmakers argue that TikTok user data for U.S. citizens could be accessed by the Chinese state, but TikTok has consistently denied that claim.

The legislative push to ban TikTok led to multiple congressional hearings and, just last week, the app encouraged all of its U.S. users to call their representatives to “stop a TikTok shutdown.” It comes two years after it was reported that Meta paid a Republican consulting firm to create public distrust around TikTok.

All the while, TikTok is becoming increasingly less fun and more focused on ecommerce. With the emergence of TikTok shop, it feels like every other video on the For You Page is a promoted or sponsored post. The TikTok experience is changing, and it might not be for the better.

Just because fewer people are downloading the app, and many more are complaining about their experience on it, doesn’t mean TikTok is fully failing, though. The app has higher engagement than its rivals, with users spending an average of 95 minutes on TikTok in comparison to 62 minutes on Instagram, 30 minutes on X, and 19 minutes on Snapchat, according to the Financial Times report.

We’ll have to wait and see what a TikTok ban will look like, but one thing is certain — even if the app isn’t banned in the U.S., the fight for users won’t be over.

Feature Image Credit: Photo by Matt Cardy/Getty Images

By Christianna Silva

Sourced from Mashable

BY MICHELLE CHAPMAN AND THE ASSOCIATED PRESS

Sheryl Sandberg, who helped to transform Facebook from a tech startup into a digital advertising empire, will step down from the board of Meta, Facebook’s parent company.

“With a heart filled with gratitude and a mind filled with memories, I let the Meta board know that I will not stand for re-election this May,” Sandberg wrote in a Facebook post.

Sandberg left Google to join Facebook in 2008, four years before the company went public. As the No. 2 executive at Meta under CEO Mark Zuckerberg, Sandberg also took a lot of heat for some of its biggest missteps.

She stepped down as chief operating officer of Meta in 2022 but remained a member of the company board. She had served as COO of Facebook, and then Meta, for 14 and a half years and as a board member for 12 years.

“Under Mark’s leadership, Javi Olivan, Justin Osofsky, Nicola Mendelsohn, and their teams have proven beyond a doubt that the Meta business is strong and well-positioned for the future, so this feels like the right time to step away,” Sandberg wrote.

Sandberg said she will continue to serve as an advisor to the company.

Last year Sandberg announced that she was launching a girls leadership program through her foundation to respond to what she calls stubborn gender inequities. The girls leadership program includes a middle-school curriculum as well as resources for adults.

Lean In is a project of the Sandberg Goldberg Bernthal Family Foundation, the private foundation Sandberg started with her late husband, Dave Goldberg.

Feature Image Credit: JOSE LUIS MAGANA—AP IMAGES

BY MICHELLE CHAPMAN AND THE ASSOCIATED PRESS

Sourced from Fortune

By Sarah Perez

Meta announced it’s rolling out its first generative AI features for advertisers, allowing them to use AI to create backgrounds, expand images and generate multiple versions of ad text based on their original copy. The launch of the new tools follows the company’s Meta Connect event last week where the social media giant debuted its Quest 3 mixed-reality headset and a host of other generative AI products, including stickers and editing tools, as well as AI-powered smart glasses.

In the case of AI tools for the ad industry, the new products may not be as wild as the celebrity AIs that let you chat with virtual versions of people like MrBeast or Paris Hilton, but they showcase how Meta believes generative AI can assist the brands and businesses that are responsible for delivering the majority of Meta’s revenue.

The first among the trio of new features allows an advertiser to customize their creative assets by generating multiple different backgrounds to change the look of their product images. This is similar to the technology that Meta used to create the consumer-facing tool Backdrop, which allows users to change the scene or the background of their image by using prompts. However, in the ad toolkit, the backgrounds are generated for the advertiser based on their original product images and will tend to be “simple backgrounds with colours and patterns,” Meta explains. The feature is available to those advertisers using the company’s Advantage+ catalogue to create their sales ads.

Another feature, image expansion, allows advertisers to adjust their assets to fit different aspect ratios required across various products, like Feed or Reels, for example. Also available to Advantage+ creative in Meta’s Mads Manager, the AI feature would allow advertisers to spend less time repurposing their creative assets, including images and video, for different surfaces, Meta claims.

With the text variations feature in Meta Ads Manager, the AI can generate up to six different variations of text based on the advertiser’s original copy. These variations can highlight specific keywords and input phrases the advertiser wants to emphasize, and advertisers can edit the generated output or simply choose the best one or ones that fit their goals. During the campaign, Meta can also display different combinations of text to different people to see which ones drive better responses. However, Meta won’t showcase the performance details for each specific text variation, it says, as the reporting is currently based on a single ad. However, the more options the advertiser selects to run, the more opportunities they’ll have to improve their ad performance, Meta informs them.

Meta says it’s already tested these AI features with a small but diverse set of advertisers earlier this year, and their early results indicate that generative AI will save them five or more hours per week, or a total of one month per year. However, the company admits that there’s still work ahead to better customize the generative AI output to match each advertiser’s style.

In addition, Meta says there are more AI features to come, noting it’s working on new ways to generate ad copy to highlight selling points or generative backgrounds with tailored themes. Plus, as it announced at Meta Connect, businesses will be able to use AI for messaging on WhatsApp and Messenger to chat with customers for e-commerce, engagement and support.

Feature Image Credit: Meta

By Sarah Perez

Sourced from TechCrunch

  • Meta is reducing its engagement with news publishers, focusing less on current affairs on its platforms.
  • The company launched a text-based app, Threads, that prioritizes non-news content.
  • Meta is in conflict with Canada’s government over legislation requiring platforms to pay for publishers’ content.

 

Tensions are escalating as Meta, the parent company of Facebook, Whatsapp, Threads, and Instagram grows increasingly distant from news publishers, sparking widespread concern.

This move comes amidst a shift in strategy where the technology titan has been giving less attention to politics and current affairs on its platforms, while simultaneously shrugging off governmental calls for increased payments to media outlets.

Meta’s growing reluctance: A strategic move

In a pivotal turn, Meta has distanced itself from the traditional news sector, despite years of appeasing key publishers through the funding of non-profit journalism initiatives and forging partnerships with entities like Rupert Murdoch’s News Corp.

This alteration in stance manifests in Meta’s latest product release – Threads, a text-based application designed to rival Twitter. In less than a week, Threads managed to draw in an astounding 100 million users, thanks to its integration with the globally popular Instagram platform.

Much like Instagram, Threads prioritizes content from creators and friends over hard news or political stories. Adam Mosseri, the head of Instagram, has firmly declared the platform’s intent to avoid promoting news content.

In a controversial move, Meta has decided to exclude news from its feed in Canada, as new legislation demanding platforms pay for content from publishers and broadcasters comes into effect.

This law was formulated to uplift smaller news organizations with limited bargaining power. However, the law has been met with resistance not just from Meta, but also Google, which threatens to impose a news blackout in Canada.

The corporate tussle has elicited backlash from a host of advertisers in Canada, some of which are threatening to withdraw their advertisements. The implications for Meta are significant, given that Canada contributed approximately $3 billion to the company’s $117 billion annual revenues in 2022.

A history of friction

Historically, Meta has made attempts to ally with publishers through various initiatives, such as deals for content to be featured on Facebook’s News Tab product.

However, the senior leadership at Meta has concluded that the company’s interests conflict with those of the news industry. This stems from the notion that the growth of the company’s digital advertising business is perceived as a contributing factor to the global revenue decline experienced by newspaper groups.

Additionally, Meta’s internal research has revealed that users gravitate more towards short-form videos and content from influencers rather than news and political content. Consequently, the tech giant has reduced the presence of political content in users’ feeds since 2021.

Despite its ongoing withdrawal from the news industry, the ramifications of Meta’s actions are far-reaching.

With allegations that the company’s inadequate moderation of its applications fuelled discord surrounding the election of former US president Donald Trump, as well as the 2021 Capitol building riots, the technology behemoth is treading on thin ice.

As a result, industry insiders argue that Meta will eventually suffer from the escalating rift with news publishers. The absence of reliable news sharing could potentially isolate the firm from real-world happenings, leading to the question of whether its strategy will prove sustainable in the long term.

As the tension unfolds between Meta and news publishers, the future of news content on social media platforms remains uncertain.

However, one thing is clear: the technology titan’s standoff with news organizations and governments alike is set to redefine the relationship between social media and the world of journalism.

Jai Hamid is an enthusiastic writer whose current area of interest is the blockchain sector. Whenever she is not reading or writing, you can find her tending to her plants in the garden. She strongly believes that crypto is going to transform the world for the better.

Sourced from Cryptopolitan

The company hopes that making LLaMA 2 open source might give it the edge over rivals like OpenAI.

Meta is going all in on open-source AI. The company is today unveiling LLaMA 2, its first large language model that’s available for anyone to use—for free.

Since OpenAI released its hugely popular AI chatbot ChatGPT last November, tech companies have been racing to release models in hopes of overthrowing its supremacy. Meta has been in the slow lane. In February when competitors Microsoft and Google announced their  AI chatbots, Meta rolled out the first, smaller version of LLaMA, restricted to researchers. But it hopes that releasing LLaMA 2, and making it free for anyone to build commercial products on top of, will help it catch up.

The company is actually releasing a suite of AI models, which include versions of LLaMA 2 in different sizes, as well as a version of the AI model that people can build into a chatbot, similar to ChatGPT. Unlike ChatGPT, which people can access through OpenAI’s website, the model must be downloaded from Meta’s launch partners Microsoft Azure, Amazon Web Services, and Hugging Face.

“This benefits the entire AI community and gives people options to go with closed-source approaches or open-source approaches for whatever suits their particular application,” says Ahmad Al-Dahle, a vice president at Meta who is leading the company’s generative AI work. “This is a really, really big moment for us.”

But many caveats still remain. Meta is not releasing information about the data set that it used to train LLaMA 2 and cannot guarantee that it didn’t include copyrighted works or personal data, according to a company research paper shared exclusively with MIT Technology Review. LLaMA 2 also has the same problems that plague all large language models: a propensity to produce falsehoods and offensive language.

The idea, Al-Dahle says, is that by releasing the model into the wild and letting developers and companies tinker with it, Meta will learn important lessons about how to make its models safer, less biased, and more efficient.

A powerful open-source model like LLaMA 2 poses a considerable threat to OpenAI, says Percy Liang, director of Stanford’s Center for Research on Foundation Models. Liang was part of the team of researchers who developed Alpaca, an open-source competitor to GPT-3, an earlier version of OpenAI’s language model.

“LLaMA 2 isn’t GPT-4,” says Liang. And in its research paper, Meta admits there is still a large gap in performance between LLaMA 2 and GPT-4, which is now OpenAI’s state-of-the-art AI language model. “But for many use cases, you don’t need GPT-4,” he adds.

A more customizable and transparent model, such as LLaMA 2, might help companies create products and services faster than a big, sophisticated proprietary model, he says.

“To have LLaMA 2 become the leading open-source alternative to OpenAI would be a huge win for Meta,” says Steve Weber, a professor at the University of California, Berkeley.

Under the hood

Getting LLaMA 2 ready to launch required a lot of tweaking to make the model safer and less likely to spew toxic falsehoods than its predecessor, Al-Dahle says.

Meta has plenty of past gaffes to learn from. Its language model for science, Galactica, was taken offline after only three days, and its previous LlaMA model, which was meant only for research purposes, was leaked online, sparking criticism from politicians who questioned whether Meta was taking proper account of the risks associated with AI language models, such as disinformation and harassment.

To mitigate the risk of repeating these mistakes, Meta applied a mix of different machine learning techniques aimed at improving helpfulness and safety.

Meta’s approach to training LLaMA 2 had more steps than usual for generative AI models, says Sasha Luccioni, a researcher at AI startup Hugging Face.

The model was trained on 40% more data than its predecessor. Al-Dahle says there were two sources of training data: data that was scraped online, and a data set fine-tuned and tweaked according to feedback from human annotators to behave in a more desirable way. The company says it did not use Meta user data in LLaMA 2, and excluded data from sites it knew had lots of personal information.

Despite that, LLaMA 2 still spews offensive, harmful, and otherwise problematic language, just like rival models. Meta says it did not remove toxic data from the data set, because leaving it in might help LLaMA 2 detect hate speech better, and removing it could risk accidentally filtering out some demographic groups.

Nevertheless, Meta’s commitment to openness is exciting, says Luccioni, because it allows researchers like herself to study AI models’ biases, ethics, and efficiency properly.

The fact that LLaMA 2 is an open-source model will also allow external researchers and developers to probe it for security flaws, which will make it safer than proprietary models, Al-Dahle says.

Liang agrees. “I’m very excited to try things out and I think it will be beneficial for the community,” he says.

Feature Image Credit: STEPHANIE ARNETT/MITTR | GETTY, ENVATO

Sourced from MIT Technology Review

By Clothilde Goujard

Meta’s social media platforms will be barred from behavioural advertising in August.

Social media giants Facebook and Instagram will soon be temporarily banned in Norway from tracking users online to target them with advertising.

The Norwegian Data Protection Authority ordered U.S. technology firm Meta, the parent company of Facebook and Instagram, to stop showing users in Norway personalized ads based on their online activity and estimated locations. The ban kicks in from August, according to an order obtained exclusively by POLITICO and sent to Meta on July 14.

Meta’s advertising practice on Facebook and Instagram currently involves the “processing of very private and sensitive personal data through highly opaque and intrusive monitoring and profiling operations,” wrote Norway’s Datatilsynet agency.

The ban on so-called behavioural advertising will last three months, starting from August 4. Facebook and Instagram will be able to show people customized ads but only based on information given by users in the “about” section of their profiles.

Meta will face daily fines of 1 million Norwegian Krone (€89,500) if it doesn’t comply with the order.

The temporary ban could be lifted if Meta finds a way to legally process personal data and give users the rights to opt out of targeted advertising based on tracking, the order said.

The restriction comes after the Court of Justice of the European Union on July 4 ruled that Meta was unlawfully collecting people’s data to target them with ads without their explicit consent and based on the firm’s “legitimate interest.”

Meta is also currently under scrutiny from its lead privacy regulator, the Irish Data Protection Commission, over its advertising practices. The Dublin-based authority fined the social media company in January a total of €390 million for infringing Europeans’ privacy. It ordered Meta to find a new legal basis for its business model. The tech company has appealed the decision.

The Irish Data Protection Commission plans on making a decision on Meta’s legal basis for its targeted advertising operations “by no later than mid-August,” said the agency’s Deputy Commissioner and Spokesperson Graham Doyle.

The Irish regulator oversees Meta under the General Data Protection Regulation (GDPR) for the whole of Europe because the tech company has its regional headquarters there. Other European countries such as Norway are able to issue national decisions for a time limit of three months in a “case of urgency” under the GDPR.

“The persistent state of non-compliance following the [Irish] decisions demand[s] immediate action to protect the rights and freedoms of European data subjects,” wrote the Norwegian data agency in its order.

The Norwegian regulator is the first European privacy authority to severely restrict Meta’s data-driven business following the EU’s top court ruling. It said it also plans to request an urgent binding decision from the European Data Protection Board (EDPB) — the region’s network of privacy regulators — to decide on final measures.

The Irish Data Protection Commission said it has consulted with other European authorities and sent them a provisional assessment of Meta’s compliance with the GDPR for targeted advertising following the new court ruling. Authorities have until July 21 to make their submissions to the Irish DPC, Doyle said.

In a response, Matt Pollard, spokesperson for Meta, said: “The debate around legal bases has been ongoing for some time and businesses continue to face a lack of regulatory certainty in this area … We continue to constructively engage with the Irish DPC, our lead regulator in the EU, regarding our compliance with its decision. We will review the Norway DPA’s decision, and there is no immediate impact to our services.”

Feature Image Credit: Kenzo Tribouillard/AFP via Getty Images

By Clothilde Goujard

Sourced from Politico

Meta, the company that owns Facebook, has made an important announcement that has created excitement in advertising. With the positive quarterly results for Q1 2023, Meta has uncovered another addition to their money-making projects. AI Sandbox is a completely generative AI-based tool tailored for advertisers and content creators. This tool strengthens how brands interact and engage with their audience on social media platforms.

The announcement created a positive outlook for Meta, as it has posted year-on-year revenue growth for the first time in three quarters. This positive momentum further strengthens the company’s position as a leader in the tech industry and enhances its vision to deliver innovative solutions for advertisers.

The AI Sandbox offers three main features as per the release. The first feature enables brands to generate variations of the same copy with customization capabilities for their advertisements. This feature helps them to tailor their message for a range of demographics while keeping the core idea of the message intact. This level of personalization ensures that brands connect with their target audience more personally, maximizing their impression of them.

The second feature of the AI sandbox is a background generation tool that simplifies the creation of uniquely different campaign materials. Based on text prompt as an inference input, This allows brands to create unique ads with trendy and engaging backdrops that align with the ad’s core idea. This feature enables the simple and enhanced visual addition to their suite of campaign assets and saves time in the whole iteration of the ad material lifecycle.

The third and final feature of the AI sandbox is its image-cropping tool. This tool allows advertisers to create visuals in different aspect ratios, such as social posts, stories, or even short videos like Reels. This simple-sounding automation is a quite needed feature in creator space as a significant amount of time is spent creating these visuals in different dimensions per the requirements. This feature saves the time and efforts of a creator hence, enhancing a creator or an advertiser’s overall experience.

Meta has made this generative AI Sandobx features available to a select group of advertisers. However, new expansions will roll out in July of this year. In a recent post, Meta stated, “In July, we will begin gradually expanding access to more advertisers with plans to add some of these features into our products later this year.” This expansion of access reflects Meta’s commitment to empowering a broader range of advertisers with the capabilities offered by the AI Sandbox.

It is worth noting that Meta’s expansion into AI and advertising innovation does not mean they have a blurry vision of Metaverse development. While Meta works on developing AI tools to enhance advertising capabilities, it remains dedicated to building a metaverse and revolutionizing how people connect and engage with technology.

Conclusively, the announcement of Meta’s AI sandbox for advertisers marks a significant milestone for the company. As Meta expands its services beyond social media, this AI toolset is set to revolutionize the advertising industry. By enhancing the process of content creators with the help of these generative AI features, Meta aims to strengthen engagement, streamline the creative process and provide brands with the resources they need to connect with the target audience quickly and effectively.

By Anant shahi

Anant is a Computer science engineer currently working as a data scientist with experience in Finance and AI products as a service. He is keen to build AI-powered solutions that create better data points and solve daily life problems in an impactful and efficient way.

Sourced from MARKTECHPOST

Don’t forget to join our 21k+ ML SubRedditDiscord Channel, and Email Newsletter, where we share the latest AI research news, cool AI projects, and more. If you have any questions regarding the above article or if we missed anything, feel free to email us at [email protected]

Amid various changes to online data collection, which have restricted how much insight digital platforms can use in ad targeting, Meta has been developing new machine learning-based ad targeting models, which are able to deliver more relevant ads to each user without requiring the same level of personal usage insight.

This is particularly important for Meta, as it’s been hit especially hard by Apple’s iOS 14 update. Following the update, many users have cut Meta off from gathering usage data in its apps.

And while that has hurt Meta’s bottom line, more recently, Meta’s ad business has seen a recovery, while marketers are also reporting much-improved performance through tools like Advantage+, Meta’s automated ad targeting process.

So how is Meta delivering more relevant ads to users with less data to go on?

This week, Meta has provided an overview of its latest systematic update on this front, with a new ad delivery process called ‘Meta Lattice’, which uses multiple data points to better predict likely ad responses through AI and other predictive technology.

Meta Lattice

As explained by Meta:

Meta Lattice is capable of improving the performance of our ads system holistically. We’ve supercharged its performance with a high-capacity architecture that allows our ads system to more broadly and deeply understand new concepts and relationships in data and benefits advertisers through joint optimization of a large number of goals.”

Okay, that’s a bit of a mouthful – but essentially, the Lattice system is able to infer more likely user responses, without requiring as much direct data insight from each person.

The process utilizes knowledge-sharing across Meta’s different surfaces (e.g. News Feed, Stories, Reels) to expand its mapping of potential user interest and activity. Previously, all of these elements were measured in isolation, but Meta’s more advanced predictive models are now able to take in a wider array of data points, in order to better understand likely individual behaviors.

It’s basically an expanded database of all of Meta’s ad response activity, which, when cross-matched with all of the other information it has on each user, enables the Lattice system to better predict likely ad interest through more advanced mapping. That makes better use of all of the data that Meta can access to show people more relevant ads.

“We’ve designed Meta Lattice to drive advertiser performance in the new digital advertising environment where we have access to less granular data. Additionally, Lattice is capable of generalizing learnings across domains and objectives, which is especially crucial when the model has limited data to train on. Fewer models also means we can proactively and efficiently update our models and adapt to the fast-evolving market landscape.”

In addition, the Lattice system is also able to better contextualize longer-term ad exposure, and its relative impact on response.

The engagement between an ad and a person viewing the ad can span from seconds (e.g., click, like) to days (e.g., considering a purchase, adding to a cart, and later making the purchase from a website or an app). Through multi-distribution modeling with temporal awareness, Meta Lattice can capture not only a person’s real-time intent from fresh signals but also long-term interest from slow, sparse, and delayed signals.”

According to Meta, this approach has already improved ad exposure quality by 8%, and it’s getting better every day, leading to better results through its automated targeting tools.

Really, if you haven’t considered Meta’s Advantage+ ads, they’re worth a look, with, again, many performance marketers reporting strong results through the use of Meta’s advancing ad targeting tools.

And, as these AI-based systems evolve using a broader range of inputs, they’re likely to become more significant drivers of response, which could help you target the right audience for your offerings without needing to manually set the parameters of each campaign.

You can read more about Meta’s Lattice ad targeting system here.

Sourced from Social Media Today

Meta is moving on from more crypto projects, even though NFTs / digital collectibles were once pitched as part of its ‘metaverse’ future.

Meta is “winding down” its work with NFTs on Facebook and Instagram, Meta commerce and fintech lead Stephane Kasriel said in a Twitter thread on Monday. The decision means Meta will end its tests of minting and selling NFTs on Instagram as well as the ability to share NFTs on Instagram and Facebook in the coming weeks, Meta spokesperson Joshua Gunter confirmed in an email to The Verge.

“Across the company, we’re looking closely at what we prioritize to increase our focus,” Kasriel said. “We’re winding down digital collectibles (NFTs) for now to focus on other ways to support creators, people, and businesses.” Instead, the company is focusing on “areas where we can make impact at scale,” like messaging and monetization on Reels and on improving Meta Pay.

The NFT integrations seem to be one casualty of CEO Mark Zuckerberg’s drive to make 2023 the “year of efficiency,” along with the Reels Play bonus program. But their end also follows the shutdowns of the Meta-backed cryptocurrency Diem and Meta’s Novi digital wallet last year.

Still, even as Meta exits NFTs, other companies are rushing into a market that collapsed in 2022 and shed billions in value after stratospheric levels of hype in early 2021. Reddit continues to promote its “digital collectible” avatars that are NFTs, Starbucks recently sold out a selection of 2,000 $100 NFTs in its Odyssey customer loyalty program, and Sesame Street just announced an NFT collaboration.

Feature Image Credit: Nick Barclay / The Verge

By Jay Peters

Sourced from The Verge