The Metaverse: A Marketer's Guide
Jan 18, 2022
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The Metaverse: A Marketer's Guide
Hamid Akhtar
Hamid Akhtar
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Marketing, like technology, evolves at a rapid pace. Metaverse creation is a relatively new technological development, but it will have an unprecedented impact on the human experience.

While digital marketing has advanced substantially over the previous three decades, many organizations and marketers have been baffled by the metaverse. What are some ways they can leverage the metaverse?

The metaverse is introduced in this post. This will entail both a deconstruction of what it means and an evaluation of its current and future stages. After that, I'll go over some future strategies for marketers to use the metaverse, as well as how they can get involved.

The Metaverse: What Is It?

According to venture capitalist and journalist Matthew Ball, and later by Zuckerburg, there is a lasting network of real-time rendered 3D environments.

Simply described, the metaverse is a made-up version of the internet that allows users to interact with 3-D virtual environments online. This is accomplished using personal computing (for example, the online game Second Life), augmented reality headsets, and virtual reality headsets.

That isn't to say that some aspects of the metaverse don't exist currently. Many people believe that games like Fortnite and Roblox are the foundation for the metaverse's future. Virtual avatars, in particular, can collaborate with their virtual world and other gamers.?

A non-fungible token is any digital element that does not have a monetary value. NFT is primarily represented by digital art, such as animation. With the metaverse, an NFT, on the other hand, can become so much more.

The international investment firm Morgan Stanley forecasts that thanks to the metaverse, NFTs could develop to be a $56 billion business by 2030.

As the number of virtual avatars grows, so will the demand for virtual fashion. The urge to express oneself digitally is clear, and fashion is one of the most accessible avenues to do so. Consider the market success of avatar-based virtual games like Roblox and Fortnite.

Marketing in the Metaverse: What is to be expected?

You're behind the times if you haven't considered the metaverse. It is, in other words, unavoidable. The metaverse will influence marketing in a number of different ways, some of which you can use currently.

Virtual Reality

Virtual reality is an idea that has been around for a long time. In fact, it's been around in some form or another for decades. Of course, it has progressed rapidly in recent years and will continue to do so in the future.

You may engage your customers in a variety of ways with virtual reality, from product creation to marketing. They can be a part of the process at any point. Furthermore, rather than shunning such possibilities as they would with online marketing, many purchasers will go out of their way to find them. Generations Z and Alpha, who are entering adulthood now and then in the next fifteen years, will be more at ease in these situations than any previous generation.

Augmented Reality

In contrast to virtual reality, which fully replaces your view, augmented reality only enhances it. Consider the popular smartphone game Pokemon Go or "smart glasses." These devices take pictures of your surroundings and then enhance them with images, animations, or statistics.

What part does marketing play in all of this? Whether you're shopping for an outfit, glasses, or a new car, you'll benefit from augmented reality. Customers can interact with your products in an augmented reality environment without leaving their homes. Even in-store encounters, though, will benefit from the metaverse. Due to the fact that augmented reality is an interface in the real-world environment, it is commonly used in the retail space for relaying in-depth information, showcasing new features, and so on. Consider it a bonus marketing opportunity.

The Metaverse: Branding

The opportunity for advertising and branding will grow as the metaverse expands. Avatars' virtual message boards, items, billboards, and even their virtual clothing are all incorporated.

NFTs will play an important role as well. By customizing avatars and locales like stores and "homes," you may create branded virtual content for your customers. This allows you to branch out into areas of merchandising where you haven't previously worked, such as virtual clothing and digital art.

According to Cathy Hackl, it's not as simple as going "direct-to-avatar." To put it another way, breaking into the scene isn't as simple as creating a virtual prototype of your product. In particular, this applies to businesses that sell products that cannot be easily digitized, such as apparel, art, or other products. Brands have managed to pull it off. Take a look at Gucci and even Chipotle.

Virtual Popups

Popup stores are a common occurrence for businesses of all sizes. Whether you're offering products or services, a virtual popup gives you the ability to communicate your brand on a larger scale.

A virtual popup is a way to meet people, market your business, and sell your products and services. The audience of a popup located in a real location may be limited, but a virtual popup has a wider reach.

Not only will the virtual location enhance attendance, but it will also have a lesser budgetary impact. By minimizing the demand for staff travel and hotels, as well as eliminating the requirement to rent out physical space, you may save money and possibly even lower the ultimate price for users.

The Use of Virtual Training or Classes

Thanks to so many live streaming and video platforms, virtual training and seminars are already a big part of the business world. While many virtual courses and programmes will almost probably remain in their current form, the metaverse allows them to expand.

Real-world classes can be offered all over the world via virtual headsets. Consider creating a virtual reality product training course or a tour of a use case for your services. Also, you can use it to demonstrate how to use your goods to new customers or to provide troubleshooting to existing ones.

Conclusion

The metaverse visions of Matthew Ball and Mark Zuckerberg are still years distant. This is not the time for digital marketers to sit on the sidelines and wait for that opportunity to arrive. Instead, they should spend the next few years to plan for the future.

In addition, marketers can also invest in AR and VR advertising, along with e-commerce platforms such as Facebook Shop and Instagram Shop, both of which can provide insight into the metaverse's future and how it will affect them.?

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