TLDR: Why Facebook is moving to Meta and its quest to the Metaverse?
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Nick and Danny dive into the Meta brand, the Facebook rebrand that has a wave of memes (here is the Iceland Tourism example https://www.facebook.com/inspiredbyiceland/videos/182101337445400/), the PR machine created quite a buzz but as many questions trying to understand what it means.
Danny takes you through the history of the brand, the reason why its journey is so important and why the fights and bets made by Facebook’s leadership team have led to one of the biggest rebrands in history.
Danny answers Nick’s question of why the rebrand was so important and the other potential it had
Important notes: You have 4 master brand types you can: monolithic (FedEx), endorsed (Virgin), free standing (unilever with dove, wall's etc), hybrid (coca cola company, coca cola - diet coke - coke zero + sprite, fanta etc)
What is Meta? Group of businesses - Facebook (big blue), Instagram, WhatsApp, - VR and experimental. Money making (facebook app, instagram) vs money losing (whatsapp, VR, metaverse building). Is comparable to Alphabet (Google's parent)
Nick dives into the metaverse and the VR and AR side of the rebrand and repositioning (well worth watching the haptics https://twitter.com/boztank/status/1460668829789351936
Danny and Nick answer a listener question: From James Sinfield @ Nestle“In your honest opinions, will Facebook (Meta) succeed with their aim of building a new version of Internet? Is there a flaw in their thinking?”
Then comes the future state of Facebook and Meta (including the breakdown of the metaverse)
6 Ways To Help Shape Your Thoughts
Facebook has turned into email 2.0 - necessary evil for many
Facebook was the gateway to the internet for millions of users - particularly in Asia and Africa
Facebook isn't a social network it's an ad's network - Facebook's biggest challenge is their algorithms and controlling how content spreads. This is not under control and they struggle to do so, so why will people rush to the new Meta products, software or hardware driven
Meta has to shape and control the next generation of platforms. They never shaped the iPhone or any android device.
"Our biggest competitor by far is iMessage" - Mark Zuckerberg on 31st Oct 2018
Meta is a brand rebuild alongside a new ten year mission
What do you think, let us know @dannydenhard and @nickwalter23 on Twitter