Marketing in Metaverse: Getting Ahead of the Competition

‌By Dannie

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Metaverse and augmented reality glasses

Technology is quickly advancing and the latest craze is an exciting virtual world called the Metaverse. Marketing in this type of environment can be very beneficial for those willing to get on the ground floor. But what exactly is the Metaverse and why does it matter?

The Metaverse is a 3D, immersive virtual environment that allows users to interact with each other in a digital space using avatars. It connects people from different physical locations through internet-connected devices like augmented reality glasses and smartphones.

This article will enlighten your understanding of Metaverse technology, how marketers can use Metaverse technology, and how to start learning it now.



What Is the Metaverse and Why Does It Matter?

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3-D virtual world

What is the Metaverse?


First, let's define what the Metaverse is.

The Metaverse is a massive, 3-D virtual world, sometimes referred to as the digital universe. It allows users to interact with each other in a virtual space with a digital representation of their bodies.

The Metaverse uses avatars, which people use to represent themselves in this virtual space. When people meet one another in the Metaverse, they see a digital version of themselves instead of seeing an actual human being face-to-face. Users also see other people's avatars and the environment they are in at the same time.

A Metaverse is a place where people gather, learn, share ideas and collaborate on common interests. This type of technology has the potential to revolutionize marketing and human interaction. It can help erase the barriers created by time, distance, and location.

Here’s an excellent primer on the Metaverse by Reuters:

https://www.youtube.com/watch?v=99BnZ8js1_k


Why does the Metaverse matter?


Metaverse technology could also change human interaction forever. This is because it will be able to connect people in ways that until now seemed impossible.

In a nutshell, here are some of the ways the Metaverse will change human interactions:

● Virtual online workplaces

● Physical and virtual shopping experiences

● Virtual interactions with clients and colleagues

● Interactions with online friends

● Playing games together

● Virtual collaboration



The Metaverse Is the Future of Marketing

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Virtual brand experiences

Marketers should pay close attention to Metaverse technology. This is because it has the potential to create both challenges and opportunities for marketers.

For example, consider how Metaverse technology could change digital marketing (e.g., virtual billboards, virtual product placements in films, virtual films). Also, Metaverse technology could disrupt traditional brick-and-mortar marketing efforts by integrating physical stores with their eCommerce experiences.

Here are additional examples of how the Metaverse will impact marketing:

● Virtual brand experiences

● Marketing campaigns involving avatars

● Digital billboards in the Metaverse

● Building brand affinity in virtual spaces.


How Can Marketers Learn Metaverse Technology

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Metaverse Technology

There are many ways marketers can learn Metaverse technology. Here are a few suggestions:

Take online courses in augmented reality and virtual reality. These include online courses offered by Coursera, Udemy, or Lynda.

Connect with other marketers on LinkedIn. They may be willing to share information about their experiences with the Metaverse.

● Attend industry conferences on augmented reality or virtual space technology.

● Study Metaverse technology on Reddit

● Join Metaverse-related groups on Facebook.

● Learn about the history of virtual worlds.

Read books that discuss the Metaverse. One example is "Ready Player One," by Ernie Cline. In this book, much of human life evolves inside a virtual world called OASIS.

In addition to learning from published literature, some notable experts have been writing about this topic for some time now who offer interesting insight into the emerging space of the Metaverse.

A notable example is Jeremy Bailenson, founding director at Stanford University's Virtual Human Interaction Lab and author of Experience on Demand: What Virtual Reality Is, How It Works, and What It Can Do.

There is no question that the Metaverse will impact digital marketing in major ways. Marketers will either ignore this technology at their own peril or learn about it now so they can be prepared to take advantage of its many benefits as soon as possible.

Marketers should also keep an eye on virtual assistants like Siri, Alexa, Google Home, Cortana, and Magic because these technologies are all building blocks that could lead to the creation of customized virtual assistants for specific tasks within the Metaverse.



The Future Is Now: 6 Ways To Do Marketing in Metaverse

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Marketing in Metaverse

As I mentioned, the Metaverse is a virtual world that allows users to connect, interact and socialize with each other online. Therefore, your organization can set up a marketing campaign with this remarkable technology to interact with potential customers.

Here are 6 ways that marketers can use Metaverse technology to their advantage:


1. Build Your Brand's Avatar

Your business can develop an avatar to represent your organization in this virtual world. Virtual assistants like Siri, Cortana, and Alexa are so popular because they have their own voice and personality which people attribute to the brands they represent, for example.

By building an avatar for your brand, you are creating an extension of the brand's voice and personality. This will encourage people to connect with your avatar instead of just some faceless organization.


2. Offer a Metaverse Demo of Your Product or Service

Another way to use Metaverse technology for marketing is to create a virtual demo of your product or service. This demo will let customers experience the features and benefits of your product without having to physically visit a store location.

For example, if you own a car dealership, you can show potential customers how the exterior and interior of your cars look like. If you are selling an online service like cloud storage or email marketing software, your customers can interact with these tools by using avatars to perform specific tasks.


3. Host Live Events in the Metaverse

There is no need for marketers to rely solely on physical locations for hosting live events anymore because there are augmented reality technologies like Meta that offer emergent ways to connect with people wherever they may be whether online or physically present at an event location.

For example, brands could ask attendees to sign up for their e-newsletter using their avatar instead of handing them brochures during trade shows. They could also host live interactive presentations at their booths using Meta to connect with attendees in the Metaverse.


4. Build Brand Awareness Through Location-Based Metaverses

Additionally, brands can use augmented reality technologies like Google Lens and Microsoft HoloLens which allows people to interact with real-world locations as if they were part of the Metaverse.

For example, an organization like the Salvation Army could use HoloLens to create a Metaverse experience that shows how their donations are used to help those in need. Marketers can then promote those experiences on social media and other outlets offline as well as online.


5. Build Your Own Online Community

Do not limit yourself by interacting with actual, live customers only because there is so much potential within Metaverse technology to host virtual communities for your business. For example, you can create an awesome gaming community where users can play casual games together, discuss games and interact socially using avatars while playing their favorite games.


6. Engage by Gamifying Your Marketing Efforts

People love to play games and marketers know that this makes it possible for them to engage more effectively with their target audiences. By gamifying marketing campaigns, they will be able to generate increased levels of brand awareness and customer engagement.

For example, brands like First National Bank in South Africa have used gamification to engage with their customers while marketing financial literacy courses at the same time.


Conclusion

Metaverse technology is such a great opportunity for marketers to engage with their target audiences and build stronger relationships with existing customers. By taking advantage of this exciting new technology, marketers can show off their creativity and innovative skills as well as gain competitive advantages using these tools.


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