Facebook loses credentials

The growing Impact of Facebook's losing credentials on Digital advertising, has forced the Brands to rethink other opportunities. Facebook is in trouble. Social media platforms need constant growth to survive, but Facebook is no longer growing. The economic downturn and fears of a recession have many marketers reining in spending. However, Today, Google and Facebook are rated as the top most paid media platforms by the enterprises, but this situation is going to be changed.

Facebook has long been the go-to platform for marketers looking to reach young people, and its targeting capabilities are unrivalled. Facebook’s business was built on network effects — users brought their friends and family members, who told their colleagues, who invited their buddies.

But with Facebook no longer growing, and users increasingly spending less time on the site, businesses now start to look elsewhere for their digital advertising needs. Experts say, it is time to FaceOff the world of Facebook.

But in 2022, the cycle has reversed. Users are jumping ship and advertisers are reducing their spending, leaving Meta poised to report its second straight drop in quarterly revenue. There are disruptions like, Gen Z puts its stamp on the next phase of social media in 2023. However, Social media usage is steadily growing, and we don’t see it slowing down anytime soon. The metaverse will continue to drive conversations throughout 2023.

Mark Zuckerberg, founder and CEO of Facebook has bought the metaverse, which may be the company’s future but accounts for virtually none of its near-term revenue and is costing billions of dollars a year to build. Zuckerberg said he hopes that within the next decade, the metaverse “will reach a billion people” and “host hundreds of billions of dollars of digital commerce.

With the going gets tough and the tough gets going. The same policy could be seen with Facebook, many feel that Facebook is at risk of going out of business. The company still has a dominant position in mobile advertising and has one of the most profitable business models on the planet.

Meta competes with other companies that sell advertising to marketers, as well as companies that provide platforms for communicating and sharing content among users’ various social networks. Major competitors include Apple Inc., Alphabet Inc.’s Google and YouTube, Tencent Music Entertainment Group, Amazon.com, and Twitter Inc.

When any new technology emerges, cyber criminals and fraudsters will almost immediately have a look to see what's in it for them. The internet, smartphones and the Internet of Things have increasingly become part of how we live our lives -- and all of these technologies are targeted by malicious hackers looking to steal passwords, personal information, bank details, and more.

As a result, brands will need to find new platforms to reach their target audiences. They'll also need to put greater importance on user privacy, as the public is no longer willing to tolerate Facebook's cavalier attitude towards data. In addition, given the Facebook-fuelled rise in ad blockers, brands will need to find ways to reach people that don't rely on traditional display advertising.

Dr. Deepak Kumar Sahu, President & CEO, VARINDIA