The hottest topic today is ‘Metaverse Marketing’. Since Facebook has announced its concept, other big brands are taking this virtual world seriously. They started spending their budgets building their brand awareness in this augmented reality. Marketers, analysts, and professionals are experimenting with this advanced technology. Anytime a new technology is introduced, the question arises: “Is it even worth investing? Will it benefit us? What if companies hack our data?”
This is a human tendency to first criticize the change and then adopt the same inventions. Remember the time when the digital marketing industry was booming, and critics said it would only hamper business functioning. Today, you can perceive that it is the panacea for branding and marketing.
So, do you believe this new technical concept has the potential to change the phase of marketing? Can it affect the daily life of general people? Let’s explore, but first, familiarize yourself with the basic concept of the metaverse.
Jump To The Section
Metaverse: The Virtual Planet
Metaverse means a virtual planet where by wearing AR & VR tools, you can enter into an entirely new world. That world is entirely virtual, and all creations are done by technology. Also, it allows you to do several factors like attending parties, chatting with friends and strangers, meetings, travels instantly to anywhere in the specific metaverse.
In addition, you get tokens called NFTs (Non-Fungible Tokens) to purchase and sell your services. Yes, you got it right; you can transact with the real money as meta converts the currency into these tokens. Further, you can buy anything present there.
The next phase of the internet is the “Metaverse.” It is a world and ecosystem you never experienced before. Here, no one controls you; instead, you get the home rule. Meaning; you get to choose where you want to travel, with whom to chat & engage, what events to attend, and further what activities to perform virtually.
Remember, the metaverse is not limited, instead, there are multiple metaverses at present and can be unlimited in near future. For instance, Facebook named itself the Meta Company which means there would be Facebook’s own metaverse very soon. Similarly, big brands could have their own virtual worlds which you can enjoy and experience.
Did you find the term “metaverse” similar to “Spiderman multiverse?” Or, you get to know about it with Facebook’s introduction of Meta? Most of us relate this virtual universe to FB’s meta concept. However, it had always existed, even before Facebook introduced it.
In simple words, it is a place where you experience life and choose your virtual avatars. Here, you design your avatars, which can be fictional characters or organize how you want to look.
That’s How Mark Zuckerburg Introduced Metaverse
Events you can enjoy in this virtual world:
- Interaction With Your Friends: you will get the same and even more experience while meeting the virtual avatars of your friends and family.
- You can easily Organize or Attend Any Meta Event: parties, weddings, seminars, concerts, etc.
- Take part In The Live Games (Like Fortnight)
- You could Transact Assets like real estate and other properties with real money.
- You can run businesses and companies or even work as an employee in the metaverse and make an actual income there.
- Your designed avatar could express your words and facial emotions in real-time.
- The way you talk and engage with others; your avatar’s happy, sad, or angry emotions can capture all in the same way you do in real life.
- Also, you will witness companies using metaverse marketing to build their brand awareness. Consequently, you get to buy virtual products and services as you do in Fortnite.
There are many potential opportunities and chances that you can experience in the metaverse. In addition, most of them are not even invented yet. Therefore, there are endless growth opportunities for anyone.
Even though it would feel so real that you will forget for once that you are living on a virtual planet wearing VRs and Hand gadgets. Therefore, at last, think of metaverse as a virtual planet where you can do anything, anytime, and anywhere virtually. Live, The Way You Love!
Since you get what metaverse is and at what level, it can impact your life. Let’s analyze how marketers can make the most of this technology and trend.
Recently, H&M, the biggest clothing brand, opened the world’s first clothing store in the meta-universe. Here, customers buy clothes and other materials for real money. However, the complete process requires time, as the public is in the initial phase of accepting this trend.
See what Hitesh Malviya, the Founder of Itsblockchain, said about metaverse for marketing. “Virtual reality has seen immense growth, and brands will never miss opportunities for creating revenues.”
The latest technologies always involve brands to build their social awareness and to gain customers’ attention. It let them have increased customer word-of-mouth like H&M is now getting.
Other Unique Metaverse Examples:
- Fortnite and Animal Crossing create meta events for the gaming community.
- In July 2021, the Coca-Cola company successfully collected more than $500,000 real money for the meta-universe.
- In the same year, Gucci collaborated with Roblox, The Gaming Industry Ruler, for marketing in the metaverse.
- Microsoft is working on the digital avatars for 2022 where you can effectively attend meetings, official seminars.
Nike is working on an ecosystem where entertainment, fashion, and gaming innovations can flow together with the use of AR tools.
What Are Your Take On Metaverse & Marketing?
These images and videos get you an idea of how the future will be. It shows you how your life could impact you and how much you can take from this technology. Now, what do you think: will it be the next big thing in technological advancement? Would it serve the people in the best possible manner, or would it create further privacy and security threats to us?
Do let us know your thoughts in the comments below. Also, make sure to engage with this post. Don’t share it if you don’t like it, but do let us know what you personally believe about metaverse and marketing. Your opinions and thoughts are precious to us. Happy Learning; See You The Next time:)
FAQs On Marketing For Metaverse
What is the meaning of metaverse?
It is a virtual planet or universe where you can do anything as you do in reality. For instance, with AR and VR tools, you can attend any meeting, event, concert at any time. In addition, the metaverse is an ecosystem where others also interact with you using the same tools and technology. In a word, you represent yourself as a virtual individual with the same facial and body expressions.
Will the metaverse world affect me at any cost?
It depends on you. If you want to have its experience, you can use Facebook Oculus Connect to enter the virtual world. However, the big brands other than Facebook like H&M, Gucci, Fortnite are experimenting with metaverse marketing and other factors. So, if you are their consumer, you may see their presence in the meta-universe very soon.
What does metaverse mean for brands?
Metaverse is the next phase of the internet and digital marketing. Therefore, companies and brands are changing and adapting themselves according to it. Also, they experiment on how they can build their brand awareness in this universe. In brief, it is right to say that the meta world is the next significant factor of brands.