Technology is rapidly evolving and changing. We are witnessing previously unimaginable innovations.
Metaverses impact the internet as virtual reality (VR) and augmented reality (AR) become more popular. In 2021, it was expected that approximately 85 million users would engage in at least one AR or VR experience per month.
What are its implications for social media, PR, and digital marketing? This post will dive into this virtual universe.
Metaverse Explained
Today’s metaverse consists of a shared virtual space where users are represented by their virtual avatars. Based on user choices and interactions within the space, these virtual worlds continue to develop and grow. It is similar to the real world in that it has no “end”; it is simply a universe that expands as more and more people join.
It’s not just a simple virtual carnival with a centralized design, nor is it a simple game designed solely for children’s amusement. It’s also not a simple app that you can install from the app store and “play” whenever you want. Metaverses are virtual universes that incorporate the real and virtual worlds.
Metaverse Marketing
Digital marketers have to keep up with the latest technological developments. Understanding the metaverse and its full potential is part of this. Marketers must realize that the metaverse is not a fad; it appears to be here to stay and become the next big thing.
Marketers can adapt as the metaverse grows by remembering the importance of millennials and Gen Zs as a target market. This new generation is also avid users of certain types of metaverses, such as Roblox games and VR technologies. With that in mind, let’s look at how to market in the metaverse.
- An immersive experience is essential.
In the metaverse, you can start providing virtual advertising. Bidstack, a video game company, for instance, transitioned from real-world outdoor advertising to placing ads on virtual billboards.
You can, however, go beyond virtual billboards. Because metaverses are experiential and immersive, it’s best to capitalize on this by providing an equivalent immersive experience with your advertisements and marketing initiatives.
Partnerships with the Roblox metaverse and other metaverses have recently revealed new revenue streams for brands.
- Collectibles should be made available.
People enjoy collecting things, and the metaverse provides another venue for them to do so. You can repeat the experience in the metaverse by providing assets or limited-edition pieces that they can only acquire in the metaverse.
The Collector’s Room, for instance, is obtainable in the Gucci Garden experience on Roblox. It allows individuals to amass a limited number of Gucci products in the metaverse. Gucci reached 286,000,000 Robux from the game’s initial sales of collectible items.
- Participate in existing communities.
People are generally opposed to advertising. Whenever brands attempt to enter the metaverse, they mustn’t annoy those already there. Metaverse marketing is permission-based.
Final Thoughts
Although guiding principles can help marketers decide what kind of tactics and strategies to use, the metaverse is still a new platform with plenty of room for experimentation. Best practices have yet to be adequately established, and paradigms have not fully and comprehensively developed. This provides ample opportunity for marketers to be creative and experimental in their approaches.