Metaverse as a new marketing channel
Metaverse has emerged as a new digital realm, redefining the way we interact with technology. We can clearly notice that the boundaries between physical and virtual realities are becoming more and more blurred. The importance of the omnichannel approach to consistent communication and relationships among the brand’s audience is already widely known.
Isn’t it the right time to wonder whether we are not witnessing a paradigm shift in advertising that will sooner or later label the metaverse as the next industry standard in every brand’s digital strategy?
In the vast landscape of digital marketing, channels such as social media, search engines, and e-commerce platforms still dominate. However, as we witness the rapid evolution of technology, metaverse can definitely become a prominent player in the marketing mix. Since the biggest social advertising platform Facebook rebranded to Meta back in October 2021, it became clear that even the big boys are adapting. Further development in virtual and augmented reality (VR/AR), but also in NFTs and cryptocurrencies, creates more and more complementary tools for the metaverse to become a wildly crowded space with a huge upside potential for advertising.
Virtual world has already witnessed groundbreaking advertising events that have captivated audiences worldwide. From virtual concerts and fashion shows to product launches and exclusive virtual spaces, companies are harnessing the immersive nature of the metaverse to create unforgettable brand experiences. One of the most prominent events to this day remain Travis Scott’s 15-min virtual concert in “Fortnite” metaverse, attracting 12.3 million attendees. Let’s notice that such a huge audience would never be able to attend a single show in physical world.
Metaverse might be disruptive to many industries, same as ecommerce was disruptive to many brick and mortar stores.
For businesses looking to capitalize on the opportunities within the Metaverse, there are already simple ideas to consider. Creating a branded virtual space, hosting product launches or events, buying in-game ad placements and collaborating with influencers to reach audiences within the Metaverse are just a few examples, providing users with a unique and engaging experience.
Think about Times Square in New York, or Piccadilly Circus in London. It’s impossible to look around without seeing brands everywhere. The metaverse will look very similar to this through your VR headset. Imagine you’re in a virtual meeting room and you look out of the window. You won’t just see billboards targeted at the masses, you see your favourite snacks, clothing companies, and electronics – curated to directly target you. Similar opportunities are already available through in-game advertising. Real brands are placing ads in games like GTA online and FIFA, making virtual experiences feel even more like real-life.
As digital marketing and technology evolve at an unprecedented pace, businesses must remain vigilant to the emerging opportunities in the Metaverse. The Metaverse holds the potential to become a tremendously influential market, transforming the way brands connect with their audiences. By embracing the immersive experiences offered by virtual and augmented reality, businesses can position themselves at the forefront of this digital revolution, ensuring they don’t miss out on the tremendous opportunities that lie ahead. In a world where the only constant is change, those who adapt to the Metaverse stand to reap the rewards of a new era in advertising and brand engagement.