The Future Of Marketing On The Metaverse

Once every decade or so, something new comes along to disrupt the entire marketing scene. If you think about the quick and drastic transition from radio and television to the internet and, most recently, digital channels like search, social and mobile, you’d find one common principle: that first-mover brands always have an upper hand and win the race to master new, paradigm-shaking channels early. And this time, it’s all about METAVERSE. Let's win the race, shall we?

But first, What Is the Metaverse?

Meta, which means ‘virtual’ and Verse comes from the word ‘universe’. It is basically a fast-growing network that allows activities of our real physical world to be performed virtually.

How Will Metaverse Impact Marketing?

The happening of Metaverse is no longer an “if”, it is a reality that marketers need to embark on before they are left behind.If you haven’t considered marketing on Metaverse, below are some ideas that may help you plan your next marketing campaign.

The Experience

Apart from creating experiences on Virtual Reality and Augmented Reality in the Metaverse, there is a lot of scope for branding for marketers.A survey from Meta found that 71% of consumers expect brands to promote diversity and inclusion in their online advertising, and yet that same report says the majority (54%) of consumers do not feel fully represented in online ads.

Marketers can design their own experiences in the company’s very own digital world. This enables marketers to inject their brands into that experience in a way that makes each user feel very exclusive.

Branding in The Metaverse

As the metaverse grows, so too will branding and advertising opportunities. Including virtual billboards, merchandise, and even the virtual clothing avatars wear. NFTs are already something everyone’s talking about. Avatars, digital art, merchandising - there’s a lot you can do with NFTs.

While Nike is an established brand already, it has taken a team to break barriers and enter the world of Metaverse with a creative opportunity to build a virtual retail environment. They are creating virtual sneakers and collectibles for the metaverse.

Virtual Popups

A virtual popup gives you the opportunity to share your brand on a larger scale. The Metaverse location will not only allow a large number of people to attend from any place on Earth, but it will avoid the need to pay rentals for physical space, lodging etc.

Virtual Training or Classes

Virtual training and classes are already very common to see (Thanks to Covid-19). While many virtual trainings and classes will likely continue in their current form, the metaverse creates a space for them to expand. Just imagine a virtual reality training course on your product or a use case walkthrough for your services.

Metaverse Events

In this post-COVID world, it’s easy to imagine the continued need for online/virtual conferences and events spaces. You don’t want to wait until these types of events become popular before you hop on the bandwagon. You should consider hosting your own virtual event, whether through virtual reality or augmented reality, soon. Sotheby’s recently announced its own virtual art gallery in Metaverse.

With that said, marketing and advertising in the metaverse is still fairly new, so the prices are still quite low to run a campaign. If you think your brand’s audience is receptive to this evolution, this is the best time to jump on the bandwagon but the trick is to plan creative campaigns rather than focusing only on ads. User engagement should be your metric to focus on. Unfortunately, this technology is so new that there are not many ways to measure or track the success of the campaigns like on other platforms we are used to but fret not, it is only a matter of time before the metrics exceed our expectations.

Next step is for you to decide whether you would like to invest in your in-house metaverse marketing team or go for an agency to embark your brand on the greatness of Metaverse. But remember, think big, think out of the box because, in Metaverse, even the sky isn’t the limit (literally).