In an era where the economic landscape continues to present unprecedented challenges, Meta Thailand is capitalising on the power of artificial intelligence (AI) to boost returns on investment for businesses and advertisers. The spearhead of their strategic focus remains the evolution of Reels, their short video clip service positioned as a contender against TikTok.
Helmed by country director, Prae Dumrongmongcolgul, Meta Thailand has ambitious plans. The goal is to utilise its formidable global user base which boasts an impressive 3.88 billion monthly active users, including 65 million Facebook consumers in Thailand. According to Prae, Meta presents a prolific platform for diverse businesses to engage with related audiences, sparking a multitude of opportunities.
AI technology, a crucial tool for Meta platforms, holds the key to a more customised content experience perfectly tailored to user preferences, encapsulating Reels videos. This innovative personalisation technology has seen a surge of 24% in Reels content consumption on Instagram, and a considerable 7% rise in time spent on Facebook.
Just last year, Meta unveiled its Meta Advantage Suite, a carefully curated palette of products and tools aimed at streamlining the ad creation journey. Designed to collaborate with advertisers, it enables them to connect with appropriate creative assets and audiences at opportune moments. The incorporation of AI technology in the suite has led to an impressive 34% rise in ad impressions while concurrently reducing the price per ad by 16%. This not only promises a higher return on investment for advertisers but also a powerful performance enhancement for their ads.
The robust growth of Reels across the Asia-Pacific region cannot be overlooked. The company has reported a striking 200 billion daily Reel plays in the last quarter alone. Content from Reels reshared on Facebook and Instagram has magnified twofold from the previous year. With over half the time spent on Meta platforms in Thailand being dedicated to video watching, Reels have emerged as a pivotal part of Meta’s evolving discovery engine, fuelling engagement and further growth.
No less than 40% of Thai consumers now consider videos among their top three methods of discovering and evaluating products. Advertisers too seem to be catching onto the trend, with over 75% of them resorting to Reel ads. The revenue run-rate of Reels has observed a substantial leap, escalating to a worldwide total of US$10 billion from the US$3 billion figure last year.
According to Tharinat Phatthararangrong, head of Global Partnership of Facebook Thailand for Meta, travel, “behind the scenes,” dance, pets, and music have been identified as the top five Reels content categories in Thailand. Monetisation prospects for creators have surfaced through in-stream video advertising.
Not stopping at that, the company keenly emphasizes personalisation and direct interactions through Meta’s business messaging application, designed to nurture business dialogues between proprietors and consumers.
A staggering billion people across the globe connect with enterprises via Meta’s messaging app weekly. Data from a survey last year conducted by Boston Consulting Group and Meta revealed that 78% of Thais engaged with businesses via messaging on a minimum weekly basis. With over 65% of advertisers in Thailand presently utilising the firm’s Click-to-Message ads service. Threads, a new text-based conversation app, was launched in July by Meta, facilitating public text updates and discussions.
Marking an impressive 100 million sign-ups within five days of its debut, Threads quickly rose to global recognition. “The app is designed to create a community space akin to Instagram that stimulates conversations and reactions in a positive and creative way,” Tharinat shares.