{"id":21402,"date":"2024-07-31T20:50:36","date_gmt":"2024-07-31T20:50:36","guid":{"rendered":"https:\/\/mysourcefunding.com\/?p=21402"},"modified":"2024-07-31T20:50:37","modified_gmt":"2024-07-31T20:50:37","slug":"facebook-is-banking-on-creators-to-entice-gen-z-will-it-work","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=21402","title":{"rendered":"Facebook is banking on creators to entice Gen Z. Will it work?"},"content":{"rendered":"

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Facebook began as a site for college kids 20 years ago, but has largely evolved into the social platform du jour for boomers.<\/p>\n

Only about a third of teenagers used Facebook last year, per Pew Research, while 71% of those 50 and older were on the platform, according to the AARP. Over the last year, Facebook has been working to change that and bring young people back, Dane Glasgow, VP and head of product at Facebook, told Marketing Brew.<\/p>\n

Earlier this year, the company hosted an event for creators, where it handed out pamphlets claiming that the site is \u201cnot your mom\u2019s Facebook\u201d and is instead \u201ca hub for all things culturally happening in the platform\u2019s underground.\u201d It\u2019s also working on updating the platform\u2019s main feed to offer up content that\u2019s more attractive to younger audiences, including Marketplace, Groups, and Facebook Dating, Glasgow said.<\/p>\n

\u201cThe vision for Facebook is really around social discovery,\u201d he said. When a younger user visits Facebook for a specific need, like buying a used couch or finding a date, the hope is that they\u2019ll stay and scroll the platform.<\/p>\n

In May, Facebook announced that it had 40 million daily active users in the US and Canada between the ages of 18 and 29\u2014the highest number of users in that cohort in three years. Now, the platform is further investing in AI, video content, and creator monetization in the hopes that it will continue to entice Gen Z, and more specifically, Gen Z creators.<\/p>\n

But how many young people can creators actually bring in\u2014and do experts think the move could change Facebook\u2019s perceived age problem?<\/p>\n

\u201cOnce you lose any generation, specifically Gen Z and even a little bit of Gen Alpha, it\u2019s really, really hard to get them back,\u201d Harley Block, CEO and co-founder of Gen Z consultancy IF7, told Marketing Brew.<\/p>\n

Follow the money<\/del> creator<\/h2>\n

Block, whose consultancy has worked on creator campaigns with teen-favorite brands like Hollister, said a major challenge for Facebook is that the age gaps among its user set is on full display. Snap, which has regained its Gen Z audience in recent years, is much more private, he said.<\/p>\n

As a young person, he said, \u201cDo you really want to be at the same party where your mom and dad and your aunts and uncles are, or maybe even your grandparents? Probably not.\u201d<\/p>\n

One way Facebook is looking to get over that hurdle is by enticing creators and tastemakers to the platform in the hopes that their audiences will follow. That enticement has largely come in the form of cold, hard cash, offering them the ability to monetize all kinds of posts, including long-form videos, Reels, photos, and text.<\/p>\n

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Get marketing news you’ll actually want to read<\/h5>\n

Marketing Brew informs marketing pros of the latest on brand strategy, social media, and ad tech via our weekday newsletter, virtual events, marketing conferences, and digital guides.<\/p>\n<\/div>\n<\/div>\n

Helen Ma, senior director of product and head of Facebook monetization at Meta, told us it\u2019s part of a \u201cstrategy around supporting the growth of new creators and aspiring creators\u201d and compensating them for every type of post.<\/p>\n

Ma said Facebook has been hosting events around the world over the last year to inform creators of the platform\u2019s evolving monetization opportunities and encourage them to spread the word within their creator networks. As a larger Meta strategy, she said they\u2019ve also been encouraging Instagram creators to cross-post on Facebook.<\/p>\n

Eric Yaverbaum, CEO of PR agency Ericho Communications, said he believes creators will draw in new audiences. Exactly how many, though, is the question.<\/p>\n

\u201cAll of this is going to go back to the almighty dollar,\u201d he said. \u201cNo matter if you think Facebook is cool or not right now, if you can make more money on Facebook, you\u2019re going to go to Facebook.\u201d<\/p>\n

Post to all platforms<\/h2>\n

At this stage, creators don\u2019t seem to be flocking to Facebook in droves, but that could be changing. Block said he hasn\u2019t worked on a single creator partnership that has included Facebook, but Mae Karkowski, founder and CEO of the influencer marketing agency Obviously, told us she\u2019s seeing a \u201crenewed interest\u201d in the platform. Specifically, she said she\u2019s seeing more micro- and nano-influencers, as well as those who post video content, turning their attention to Facebook.<\/p>\n

\u201cIt\u2019s really reminiscent of TikTok in 2020 or 2018, where it was like, \u2018Are we gonna get creators on this platform? Are we gonna get brands on this platform?\u2019\u201d she said.<\/p>\n

In some cases, Karkowski told us, creators are asking brands to include Facebook in their partnership agreements, she said. Diversifying across platforms, she said, can help insulate them against changes on other platforms, like algorithm or creator fund adjustments and any possible app bans.<\/p>\n

Ma said the goal is for Facebook to be a place for unique creator content. \u201cWe\u2019re not trying to say, \u2018The content that you already saw elsewhere, you\u2019ll see again on Facebook,\u2019\u201d she said. \u201cI think it\u2019s really about a fresh set of creators that we can home-grow.\u201d<\/p>\n

So far, Karkowski says, creators have told her their content strategies on Facebook are not wildly different from their strategies on other platforms. Looking ahead, Block said content differentiation will be key to the success of Facebook\u2019s creator strategy.<\/p>\n

\u201cThey\u2019ve got to do something really profound to get [Gen Z] to commit their precious time again away from Instagram, away from Snapchat, away from TikTok, to go to Facebook,\u201d he said. \u201cI personally don\u2019t see it\u2026but you never know. These things are cyclical.\u201d<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Facebook began as a site for college kids 20 years ago, but has largely evolved into the social platform du jour for boomers. Only about a third of teenagers used Facebook last year, per Pew Research, while 71% of those 50 and older were on the platform, according to the AARP. Over the last year, […]<\/p>\n","protected":false},"author":1,"featured_media":21403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[78],"tags":[],"class_list":{"0":"post-21402","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-marketing"},"yoast_head":"\nFacebook is banking on creators to entice Gen Z. 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