From Layoffs to New Lead Generation Tools, Meta's Week Wrapped Up
May 25, 2023
1 min 43 sec read
It's been a mixed bag for Meta this week with good and bad news, so let's rip the bandaid off and get into it.
Mark Zuckerberg unveiled a 'scrappier' future at Meta after layoffs
slashed over 10,000 roles and closed 5,000 open jobs.
Teams in advertising, human resources, policy initiatives, and even engineers were in the direct line of sight of the job cuts.
And while these events are unfortunate, it's also understandable.
Meta is facing competition from social media apps like TikTok, Apple's privacy rules and the slowdown in the economy have hurt company profits, and then there are the billions that went into Metaverse, which has Wii-level graphics.
Zuckerberg claims 2023 is the year of efficiency, and that is the last round of layoffs… for now.
He believes slimming teams down across departments will make Meta more efficient, develop projects faster and pivot quickly on unsuccessful ones, and they can focus on initiatives like AI, for example.
Alright advertisers and developers, ready for the good news?
Meta is introducing Instagram search result ad placements via the Instagram Marketing API
, which is available on all API versions.
Without getting too technical, basically, you can launch ads that show up in Instagram search results. You can create ads, preview them, and get ad breakdowns by placement levels to see how they perform.
Speaking of APIs and ads, Meta is releasing the Facebook Graph API v17.0 and Marketing API v17.0
, which means older versions won't be supported.
Here's a breakdown of what you need to know.
Some features, like Ad Strategies beta, Offline Conversions API, and legacy objective creation, will no longer be supported. These changes may impact how you manage your campaigns.
Advantage+ Catalog Ads for Streaming is going away, but the alternative for you to check out is Commerce Catalog ads instead.
The Instant Articles API is going bye-bye as well. And Meta made some updates to the Aggregated Event Measurement protocol for reporting web and app events for those who opted out of tracking from iOS 14.5 and later devices.
Those updates include the following:
You no longer need to verify your domain, select a conversion domain, or turn on value sets to optimize for value. The Aggregated Event Measurement tab is going away, and you don't need to prioritize the eight website conversion events for Aggregated Event Measurement anymore.
When it comes to staying in line with iOS requirements, you have fewer responsibilities now.
We'll have to see how Meta comes up with a solution to make Apple's App Tracking Transparency compliance easier.
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