All About Metaverse Marketing
There is a whole new world of technology coming to your life. Radical ideas are becoming reality, and one of the biggest trends out there is the metaverse. A growing global ecosystem, the metaverse looks a lot like Second Life on a much bigger scale. Some people even think it is like the Matrix series of movies, but it is totally real.
To be sure, the metaverse is building on technological innovations like augmented reality (AR), virtual reality (VR) and of course, high speed internet. Some estimates say that there are already 85 million people using VR or AR tech once a month, and this number is expected to grow as the hardware becomes more affordable. The robots aren’t using humans as batteries yet, but you never know about what is coming in 2025!
Even established media outlets like Forbes are taking notice. It introduced a column for metaverse news, and there is even a way to invest in the metaverse via the metaverse Investment Fund Metaverse ATF (NYSE: META). Most people also know that Facebook changed its name to Meta (NASDAQ: META), which is another sign of how powerful this trend really is.
Jumping Into the Metaverse
The metaverse is a global digital ecosystem that is personal in a way the internet never was. People can use digital avatars, and live in online worlds that grow with the community. Unlike previous connected gaming platforms, the metaverse offers ownership.
Instead of a centralized control system that has an ‘overlord’ the metaverse is open to all, and can’t be controlled, reset, or otherwise tampered with by an authority. While Meta is trying to corner the metaverse, it is so much bigger than any company, and as people understand the power of digital assets, it will become more popular.
Here are some of the things that make the metaverse new and innovative:
The metaverse is always on: There is no pause button on the metaverse. When you leave it to sleep, it keeps going. Don’t worry, it will be there when you wake up.
You live it in real time: Much like a trip to the park or mall, everyone is living in the metaverse in real time. It is a shared, global space.
There isn’t a script: metaverse users aren’t forced into a narrative, because the metaverse isn’t a game. While there are games, that isn’t the purpose.
Entering the real multiverse: You can think of a game like World of Warcraft as its own universe. The metaverse combines platforms, and allows the use of items across universes – and cryptos are real money.
You can make money with content: Cryptos allow the transfer of value globally, and the metaverse creates the connections that let people sell their content. Think about Etsy for digital items, with crypto payments.
Welcome to the metaverse – the opportunities are endless.
The Next Frontier for Marketing
Marketing thrives with technology, which makes the metaverse the single most important idea in marketing today. The potential for marketers at every level of the metaverse is incredible. Unlike NFTs, which may be a fad, the metaverse is a generational opportunity for marketers.
How to best market in the growing metaverse?
Start by thinking about the target demographics, like millennials and Gen Zers. These computer lovers are already in the metaverse, and more will go in every year. VR tech is coming down in price, and these groups already love interactive online games.
Let’s take a look at how marketers can use this incredible digital space to reach consumers in brand new ways!
Make it Match: Parallel Marketing Opportunities Abound
People can’t actually live in the metaverse, so there are lots of ways to sync metaverse marketing with real world campaigns. Stella Artois created a hybrid promotion with Zed Run to match a metaverse campaign with a real life promotion at the Kentucky Derby. Stella also integrated NFTs and gaming with the promotion, which keeps the brand relevant long after the Kentucky Derby was over. While the NFT market is volatile, these early NFTs may become major collectors items, which is a huge win from the perspective of a brand like Stella Artois.
The Brand Angle
Not every brand has collectables to offer, but if you can, look for ways to brand digital collectables for the metaverse. Challenges in metaverse marketing include thinking digitally, and the NFT space is the perfect example of a metaverse marketing angle that works.
Anyone who owns an apartment in the metaverse needs to decorate, and your branded collectable NFT could be a part of that new interior. Go further, and make the items you offer limited-edition, so that people see the potential collectability.
If this all sounds a little silly, the big brands are paying attention. Gucci created the Gucci Gardens experience, and loads of musicians are doing shows in the metaverse.
Find a Community
Metaverse marketing is all about connecting with a supportive community, which means having something of value to offer. As a metaverse marketer, you want to make the people you interact with happy, and foster a positive reception for your message.
Before you work up a marketing in metaverse strategy, look at the format, and find something that adds value. People love music and art, which both translate into the metaverse format. You don’t need to have big names on your Telegram, just look for ways to enter the space.
Instead of trying to land U2 for a metaverse show, look for small artists that could use a break. Not only will you be creating a positive brand image, you will probably make a little money on the show, and help young artists to grow.
Think it through!
Break The Mold
You might notice that when we talk about the metaverse, we try to compare it to existing platforms. In fact, the metaverse is totally new, and requires that metaverse marketing take its cues from overarching social trends. The last thing you want to do is try and plug in a strategy that may have worked on social media, and shoehorn it into the metaverse. Now is the time for new ideas, the metaverse is the perfect place for marketing innovation.
The Future of Social
We all know how powerful social media is, and now there is a new way to go social. Forget about the idea of video games and VR, we are talking about online reality.
Mark Zuckerberg made a lot of mistakes when it comes to personal privacy, and he isn’t working with Web3. But he is one of the smartest entrepreneurs of the millennium (so far). Facebook is called Meta now, and the company is picking up tech companies like Oculus.
In a post COVID19 world, we are all doing more meetings with platforms like Zoom, and the metaverse is a natural extension of the trend. There are a number of other projects that make the metaverse relevant.
The simple fact is that people are living online, and tech is making it possible. If you aren’t willing to take the metaverse marketing jump, you will be left behind with AOL and dialup.
A New Path for Marketing
Brands need to pay attention to the metaverse, and meet challenges with strength. Innovation is the lifeblood of any marketing operation, so the metaverse is virgin territory that is more than welcome.
There was a time when smartphones were unobtainable for many, but today, most people can buy them. VR/AR tech is likely in the same vertical, and with companies like Meta backing the trend, prices for tech will fall, and adoption will rise. Standing still means you get nailed by the movers who saw this trend coming years ago.
More importantly, be an innovator. Future of metaverse marketing means being ready to take opportunities like NFTs, and embrace games. Don’t think your brand can blast messaging and be relevant, we all know the basic marketing tricks today. You need to be faster, smarter, and in-line with community goals.
Meta, formerly Facebook, has a massive 21st century hangover – we aren’t stupid, and Web3 makes data privacy possible and profitable.
The five eyes can watch whatever they want, but now it is time to pay. Come on into the Web3 metaverse, where it is all pay for play. Brands are always behind the curve, and looking to take advantage of the tech that the intel/genius sector created. That is the metaverse for anyone who is paying attention, and the time to embrace metaverse marketing is now.