The metaverse. A word that’s been used to describe the future of the internet by many users, especially since the pandemic. This virtual-reality space in which users interact with a computer-generated environment and other users – also known as a network of 3D virtual worlds focused on social connection – has given way to a new form of marketing: metaverse marketing. Will this form of marketing replace traditional digital marketing as we’ve come to know it?
Before we get ahead of ourselves, let’s dive a little deeper into what exactly the metaverse is. The word meta became popularly known by digital consumers (and the general public) around the world when Facebook’s CEO Mark Zuckerburg announced in October last year that he’s rebranding the company to Meta. If the idea of the metaverse as a shared digital environment where virtual avatars represent actual people still makes you feel uncertain, think of it in terms of Fortnite. In this popular online video game players get to create avatars which they then use to play against other players. So, every person who is playing (in real life) has an avatar who plays in the game. Exciting and full of possibilities! This then brings us to the question – what is metaverse marketing? Let’s take a look.
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Marketing in the metaverse
If there’s one aspect of business that has drastically changed over the past couple of years, it’s marketing. With the digital environment becoming the space for businesses and consumers alike, marketers have no choice but to adapt to a new future. The metaverse future is far removed from traditional marketing where brands relied on billboards and print ads to get their messages across. Marketers who want to swim in the metaverse pool firstly need to understand that Gen Z and millennials are extremely valuable – especially since these generations are probably the biggest target market. Secondly they need to understand that “traditional” digital marketing is also simply not enough anymore.
We can all agree that the metaverse will undoubtedly change marketing as we know it, with many new and exciting possibilities. One of the biggest aspects of metaverse marketing is that it gives brands and businesses a chance to tap into a worldwide market. It’s new, faster and can thus tap into more environments.
What marketing in the metaverse offers consumers, is a fully immersive experience. There’s more scope to be experiential, fascinating, fun and it is less intrusive. Although metaverse marketing is still relatively new, there are a few real life examples from top global brands worth mentioning:
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- Louis: The Game
Luxury designer brand Louis Vuitton tapped into the world of gamification to celebrate their 200th birthday by launching Louis: The Game. In the game users get to “delve deep inside the visionary mind of Louis and explore the magnificent world of Louis Vuitton through the eyes of Vivienne”, a mascot (or avatar) who gets the chance to collect 200 birthday candles, learn everything and anything about the Maison, collect wonderful fashion accessories and be the FIRST (if he/she is lucky) to find one of 30 NFTs.
This is truly an immersive experience since the player gets to learn more about the brand, have fun with friends and feel like they have access to a brand which is normally not accessible to everyone.
- Disney: MagicBand+ and “Hey Disney!”
In December last year Disney unveiled the MagicBand+ wearable and the “Hey Disney!” voice assistant. These technological innovations are part of Disney’s vacation destination, Walt Disney World Resort, 50th anniversary. In this “theme park metaverse” guests get to navigate the various Disney properties and platforms.
Once a guest enters the Walt Disney World Resort theme park, the MagicBand+ wearable allows its guests to experience Disney moments in new interactive experiences such as playing like a bounty hunter in a galaxy “far, far away” and finding virtual bounties. On the other hand, the “Hey Disney!” voice assistant uses Alexa technology to bring the characters and stories of Disney to life in exciting new ways.
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Useful tips and tools for marketing in the metaverse
Understanding current big players in the metaverse space is the first step marketers should take to learn more about what their role will be. For example, augmented reality, virtual reality, NFTs, virtual popups and events in the metaverse can already be implemented. Now is the time for marketers to prepare themselves for amazing opportunities that are undoubtedly ahead. Investing in AR and VR advertising, and getting to know e-commerce platforms in the metaverse (such as Instagram Shop) is another way to stay ahead of the game.
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Angelia McFarland, Director, Product Marketing, Programs and Operations at Dell Technologies believes that marketers should approach the metaverse in a holistic manner. “The metaverse is not a new technology to add to our toolbox. It is changing the tools we use and will likely require a new toolbox – or way of thinking.” Her advice for marketing professionals is to get skilled in crafting virtual products, making the consumer part of the process and to really value their input (and give up on controlling the narrative!), plus they need to rethink and adjust their pricing to include community building.
It’s time to unleash your inner creativity and to start exploring new ways of storytelling! Don’t wait until it’s too late – get equipped right now. Learn, study, watch, implement and make sure you’re ahead of the game once the metaverse is truly here!