Not controversies, VR ambitions behind Meta rebranding: Facebook CMO

New Ideas in MarketingEssential news for marketers, summarised by YouGov
November 03, 2021, 6:04 PM GMT+0

Meta is already mapping out its marketing strategy, as the firm partners up with Spark Foundry as its global planning and buying partner in promoting Facebook's newly named parent company.

Facebook's decision to rebrand itself as Meta has many speculating about its motives as to whether it is trying to separate itself from the recent whistleblowing scandal. However, Alex Schultz, Facebook's Chief Marketing Officer, dismissed the allegation, stating that the company began the naming process in March, and rebranding "shows we're not running from anything".

On October 28th, Mark Zuckerberg, CEO of Meta, and co-founder of Facebook, made the announcement, which came at a chaotic time for the firm. With Facebook investing 50 million euros in Europe over the next five years to develop AR and VR tech, Schultz adds that rebranding is "critical for the next phase".

While Facebook isn't the first company to rebrand itself, the rebranding efforts indicate the level of investments it's putting into to reflect its metaverse ambitions. However, the article contends that the company's negative media coverage is unlikely to go away anytime soon, and the brand should work towards convincing its consumers, VR developers, and other stakeholders.

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