Bath | 29.05.2024 | News

SHIFT attends the Meta Advisory Board Summit

SHIFT attends the Meta Advisory Board Summit

Last week, Alex, our Media Planning Director had the opportunity to attend an exclusive event at Meta's Dublin office, where we were able to get an even greater understanding of Meta's commitment to AI and R&D.

Firstly, it was made very clear that Meta's investment as a percentage of revenue surpasses all their rivals, and this is clearly reflected in their advancements and number of accessible tools within Ad Manager.

Here's a breakdown of the key takeaways and their potential impact on strategies.

AI-Driven Elements in Meta's Platform

To begin with, Meta highlighted how their investment in AI is enhancing three key elements of their platform:

  • Generative AI: The Meta AI agent is now available across all Meta products, enabling users to ask questions and get answers without leaving Facebook, Instagram, Messenger, and WhatsApp. This will impact organic site traffic, necessitating alternative channels to drive high-intent users to, such as StackAdapt and YouTube Demand Generation.

  • Advertising Automation: Meta's AI campaign solutions, including the Advantage+ suite and Advantage+ Shopping Campaigns (ASC), are revolutionising advertising. By moving from deterministic to probabilistic targeting, Meta predicts outcomes based on vast patterns, generating personalised ads and iterating at scale. To quote Pete Buckley, "Ads should be as interesting if not more than the organic content surfaced to a user because our AI models are telling people they need something before they realise."

    This shift underscores the need for brands to focus on predicting and priming intent, supported by a robust measurement framework like search lift studies.

  • Content Generation: Meta's newly launched tools like image expansion, background generation, and text variation are just the beginning. The next iteration will leverage all previously used assets in the account to generate on-brand imagery and copy. Additionally, the Advantage+ Destination tool, which selects landing pages based on conversion likelihood, is one to watch.

Unprecedented Engagement Rates

Meta's sophisticated content surfacing capabilities are driving unprecedented engagement rates. A staggering 3.5 billion Reels are shared every day, equating to 40,000 Reels per second. This highlights the importance of optimising ads for this placement to capitalise on these engagement levels.

Meta Reality Labs: AR and VR Innovations

Meta is making significant strides in AR and VR through their Meta Reality Labs, focusing on their Ray-Ban and Oculus headsets. Particularly with AR glasses, there's immense potential. Imagine users asking the built-in Meta AI for more information on a piece of clothing they're viewing, and the AI providing shop information from Facebook and Instagram. To prepare for this future, we must ensure our product feeds and in-platform shops are correctly set up.

Enhanced Recommendation Engine

Meta's recommendation engine is transforming organic content discovery. Now, 30% of content on Meta feed and nearly 50% on Instagram Feed comes from recommendations rather than direct connections.

Creative Differentiation: Key to Efficiency and Reach

Diversified creative is essential within the latest AI-fuelled campaigns, delivering a 32% increase in efficiency and 9% incremental reach. These results we have been able to replicate in the FY24 strategies for a number of brands that we work with.

Most Engaging Advertising Formats: Reels and Partnership Ads

Reels and Partnership Ads are currently the most engaging formats. Reels, especially when built in 9:16 with audio, show a 35% lower CPA compared to image ads. Partnership Ads also deliver a 19% reduction in CPA.

In summary, Meta's advancements in AI and R&D are opening new horizons for engagement, advertising, and creative strategies. By staying ahead of these developments, we can leverage these tools to drive growth and efficiency for our brands.

SHIFT attends the Meta Advisory Board Summit
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