Metaverse refers to an immersive environment, and it exists in real-time. It encompasses both the virtual and physical worlds on multiple platforms. It is a world in itself that runs on a virtual economy. In addition to that, people can have their virtual identities. Metaverse is a trendy word that shows the internet world’s true revolution. Metaverse has opened up new opportunities for the marketing industry, and it is expected to change the trends of the marketing world. With metaverse, the businesses will get an opportunity to deal with customer engagement in a whole new way, and this will push it in a new direction.
Metaverse Will Change The Trend Of Marketing
Metaverse is pretty new; even after that, the lessons from the customer engagement have started emerging for companies experimenting with marketing tactics on Metaverse. Initially, marketing involved traditional marketing methods like television, radio and newspaper advertising. In the internet age, social media marketing in the form of Instagram posts, WhatsApp Status and YouTube videos emerged. Now, this new wave of marketing will involve engaging with the customers on Metaverse. On Metaverse, the customers can again gather information just like the online or offline purchasing and, based on that, can make purchasing decisions. On top of it, the customers have virtual money to spend on their purchased products.
Businesses that want to stand tall on metaverse need to build a long-term presence on it and engage with the customers with their products, which can be done by displaying Cool Photos of the products on display in Metaverse. As already discussed, Metaverse is still a new thing, therefore heavy experimentation is required to crack the code of success in it. Currently, the most popular metaverse games and platforms include Roblox, Fortnite and Decentraland. It is important to choose the right platform to figure out where your target audience recedes.
This step is already taken by Gucci, who features on Roblox to connect with Gen Z. During its launch on the metaverse version, it managed to attract 19.9 million visitors and that too in two weeks. After witnessing this success, Gucci also collaborated with Zepeto, which is a metaverse platform focused on fashion.
Not only Metaverse is a platform for the brands but also for the creators. Many celebrities and influencers are marking their presence on the metaverse platform and are performing there. For instance, Snoop Dogg has already released his first music video on a metaverse platform. Therefore, even the internet influencers now have a new way to grow.
How To Market On Metaverse?
Most of the marketing in the internet world is passive and is in the form of writing content, videos or images. Only three per cent of the content can be tagged as immersive. When you are engaging in marketing your product on metaverse, it is extremely important to work on interactive marketing that is immersive in nature. You can include games, events and virtual stores on metaverse. Also, having an interactive element which empowers your target audience to enjoy an immersive experience is crucial.
The users of the metaverse are currently very limited; therefore, the brands and businesses should work on properly placing the products and services. Also, for standing tall on metaverse, it is important for brands to access the required skill and after identifying, they should work on figuring out which are the skills they further need to acquire. The learning curve of the same could be steep, but it will be worth it. We already have many activity communities for platforms like Roblox that are working on it. If you are planning a launch of your business on Metaverse, we recommend you study the path taken by the businesses already there on it. This will help you know what to expect from Metaverse and will help you plan a launch accordingly.
Even though marketing a product or service is tempting on metaverse, it comes with equal amounts of opportunity and risks too. In Metaverse, the risk usually comes from data privacy, misinformation and user safety issues. However, these risks can be mitigated by establishing rules of engagement for the users. Interestingly, the old engagement metrics of the marketing world might not work on Metaverse and the marketers will have to come up with new engagement metrics to determine the success and failure of one’s marketing on Metaverse.