Engagement has a completely different contextual meaning in the metaverse. Social settings now include the virtual world and all the experiences — and potential paths to purchase — that happen within it, from fashion to real estate. When you look at it through this lens, you can understand how metaverse marketing is shaping up to be the next big channel for brands.
As we shift into a fully digital landscape, the human experience changes right alongside. With this transition, brands need to reposition themselves and develop new customer experiences.
In many circles, we’re still collectively discussing the metaverse as something that’s hardly in existence, framing it as an in-progress vision of a future that we’re still building. But even in its infancy, AR/VR experiences within the metaverse attracted people by the millions. And where people go, money follows.
On top of attending virtual events, consumers also buy virtual goods with real money.
While users can resell NFTs in different places and environments, the Roblox Gucci handbag is only valuable on Roblox. This might sound wild at first glance, but it represents a shift in what consumers consider valuable — something brands need to pay close attention to.
With brands like Nike and Fortnite forging paths through their metaverse initiatives, it’s clear they recognize huge upward potential; they’re building virtual value in their brand portfolios accordingly.
Here are a few ways today’s marketers can begin to incorporate the metaverse into their strategic media planning.
The brand opportunity within the metaverse is not all that removed from current reality. In both cases, marketing and advertising strategy is a matter of designing the best approach for your target market, your channel and your product/service.
The “wild west” dynamics of the metaverse create significant unpredictability, at least for now. But, brands that properly balance the risks with strategy may soon find themselves as the pioneers of entirely new brand experiences.
The biggest takeaway for brands at this stage is understanding that technologies, platforms, and emerging technical skills will drive metaverse development. So invest time now in finding the right talent and tools to ensure your brand is ready to be part of the next generation of brand experiences, and find partners who can support your journey. Have questions? Get in touch any time.
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