Today in Digital Marketing - Sweet Dreams Aren't Made of Metaverse

Starting point is 00:00:00 It is Friday, March 17th. Today, Metaverse on hold. Zuckerberg's ambitious project hits a snag. Missed connections, the clever account verification tactic. What is business's biggest strategy blunder? And the paid blue checkmark makes it to the US. And before we actually start, a slight change to the format of today's show. So I've been playing around with the new ChatGPT version 4. And this morning, just for the hell of it, I asked it to provide a snarky, somewhat insulting response to every story, and I gotta say, it hit it out of the park. So, when you hear this

Starting point is 00:00:40 music, I will be reading the snark that AI came up with. I actually just regenerated it just now. I have not looked at the new versions, so I will be cold reading them. We will find out together how rude AI can be. I'm Todd Maffin with ChatGPT. That's ahead today in digital marketing. Meta's Metaverse is taking a backseat and AI is stealing shotgun. Axios reported today that the company is following the trend of many other tech giants that are reducing headcounts, discontinuing side projects, and pursuing the potential of generative AI. The company announced its second round of massive layoffs this week, which followed the shutting down of its portal

Starting point is 00:01:21 platform. While CEO Mark Zuckerberg hasn't disowned his metaverse dream, he stressed the significance of AI in his note regarding layoffs. The report noted that Meta's shift away from the metaverse is also reflected in funding trends. While companies that played in the metaverse and Web3 space raised nearly $2 billion in funding by this time last year, metaverse and Web3 companies have only raised about $6 million so far this year. In contrast, the generative AI space saw $6 million in funding in March 2022.

Starting point is 00:01:52 This year, it's up to $2.3 billion. Meanwhile, Meta has reportedly had difficulty keeping users engaged with its virtual reality products. According to an internal presentation obtained by Media, the company's VP for VR told employees that Quest 2 is struggling with new users. Despite its challenges in retaining users and its apparent shift toward AI, the internal presentation also showed that Meta is still committed to a robust hardware roadmap over the next few years,

Starting point is 00:02:22 with big Metaverse plans for both hardware and software, meaning the company hasn't abandoned the Met metaverse, at least not yet. Okay, are we all ready for this? Meta's metaverse on the back burner? Ah, great. Digital marketers can now stop worrying about preparing for a world that might not even happen anytime soon. Instead, they can focus on the boring old reality and its equally boring marketing strategies. Ow! ChatGPT, why you gotta do us like that? Missed calls aren't just for your ex anymore. Meta wants to use them to verify your account. The tech giant is testing a new way for users to authenticate their accounts using missed calls,

Starting point is 00:03:13 which could save the company a ton on SMS charges. The new process lets users verify their details via a missed call by tracking their phone activity. Meta's apps will be able to detect when a missed call comes in, as well as the details of that call, eliminating the need for you to answer, thus providing another method of authenticating your account without entering a password. The feature is currently only supported on Facebook Lite in certain regions. I'll admit I didn't even realize mobile apps had the ability to see what phone numbers were calling us. And that creeps me out a little. But forget me and see what ChatGPT has to say about this story.

Starting point is 00:03:52 Missed calls for account authentication? Really, Meta? As if digital marketers don't already have enough headaches. Now they have to worry about their target audience being turned off by this archaic, irritating process. Good luck selling products and services when users are busy hanging up on your platform. All right, another meta news. The blue checkmark is no longer a status of verification for brands and public figures, but rather a subscription. The company has officially rolled out

Starting point is 00:04:23 MetaVerified on Instagram and Facebook in the U.S. today. For a monthly fee of $11.99 on the web and $14.99 on mobile, anyone can add the coveted blue checkmark to their accounts. Along with the badge, Zuckerberg said he'll also receive proactive impersonation protection and direct access to customer support. If you're interested in getting the blue check for your brand or profile, you can join the waitlist to sign up for the subscription service starting today. In order to apply, you have to be 18 years old, complete the verification process, and provide a government-issued photo ID. Two-factor authentication on your account is also required. Subscribers who are meta-verified won't be able to change their profile name,

Starting point is 00:05:10 photo, username, or date of birth without completing the verification process again. Unlike Twitter, though, meta won't charge for verification for users who are already verified on Instagram and Facebook, so you won't lose the blue check if you already have one. Paid verification on Instagram and Facebook. Just what digital marketers needed. More ways for businesses to throw money at Meta. Forget about the small businesses trying to grow their online presence.

Starting point is 00:05:36 It's all about that sweet, sweet cash for Meta, right? I'm actually starting to feel bad for Meta. Do you have business insurance? If not, how would you pay to recover from a cyber attack, fire damage, theft, or a lawsuit? No business or profession is risk-free. Without insurance, your assets are at risk from major financial losses, data breaches, and natural disasters. Get customized coverage today starting at $19 per month at zensurance.com. All right, for some news now that doesn't involve meta, a new survey from Marketing Week has revealed that marketing strategy

Starting point is 00:06:17 is the most undervalued skill by businesses with more than half of marketers agreeing. Interestingly, that figure drops to 45% for B2C marketers, but reaches 52% for B2B marketers. Brand management was found to be the second most undervalued marketing skill, followed by data analysis. As for the most hyped up skill, surprisingly, social media was identified as the most overrated marketing skill by nearly a quarter of marketers, followed by performance marketing. However, recruiters' desired skills for marketers in 2023 paint a different picture. According to a recent study from LinkedIn, social media is the most in-demand skill for marketers in 2023, while digital marketing takes third place. Marketing strategy undervalued?

Starting point is 00:07:09 No kidding. Maybe if businesses stopped chasing shiny social media objects and focused on the fundamentals, they wouldn't be in this mess. But hey, who needs a solid marketing plan when you can just post memes and cat videos? Honestly, this chat GPT is absolutely hitting it right out of the park. I'm a little scared. More moves from Pinterest. The social platform formed another exclusive video partnership yesterday,

Starting point is 00:07:37 this time with publisher Dot Dash Meredith, which will bring content from a range of lifestyle brands to the app. The company will produce 180 videos for the platform, aligned with annual events that engage its audience, including weddings and holidays. Dot Dash Meredith is the third publisher to strike a deal to create content exclusively for Pinterest, joining Tastemade and Condé Nast. Pinterest partnering with Dot Dash Meredith. Wow. Another video content partnership. How innovative. Digital marketers, brace yourselves for more generic content cluttering your feeds.

Starting point is 00:08:13 Just what the world needs right now. So that will do it for the week. And friends, I am probably going to regret this. But here are the credits. Brought to you by ChatGPT version for Snark Mode. Oh, joy. Another episode of Today in Digital Marketing brought to you by EngageQ Digital,

Starting point is 00:08:38 who just so happened to set up shop on the oh-so-traditional territories of the Sonamic First Nation on Vancouver Island. How very cultured of them. Let's not forget our lovely associate producer, Steph Gunn, who probably does something important. And of course, our production coordinator, by the way, that was in quotes, production coordinator, Sarah Guild, who coordinates all the things, whatever that means. The music rights come from Source Audio, because who doesn't need a little jingle to spice things up?

Starting point is 00:09:07 And let's give a shout-out to Red Circle, who make sure those pesky ads show up right on schedule. Now, here's a little known fact, probably because it's not that important. Our theme composer, Mark Levis, is apparently a big shot in the generative AI engineering world. When I told him how much of a blast I was having with Snark Mode,

Starting point is 00:09:30 he just smiled and gave me a Vegemite sandwich. Like that's supposed to impress me or something. I'm Todd Mappin. See you Monday. day.

Today in Digital Marketing - Sweet Dreams Aren't Made of Metaverse

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