5 Metaverse Marketing Strategies For Your Brand To Explore
What do you mean by the term “Metaverse”?
The Metaverse is a shared cyberspace where the physical and virtual worlds collide. It has its own economy and rules of social behavior. The term first appeared in 1992 in Neal Stephenson’s sci-fi novel “Snow Crash,” He described it as a virtual 3D space where programmable avatars interact. Though this initially seemed like a futuristic and non-accomplishable dream, it is now the future of the internet.
People enter the metaverse using AR and VR. AR enhances real-world perception with computer-generated information, and VR uses computer-generated input to immerse users in the virtual world. The metaverse marketing strategies involve:
● Using a mix of platforms.
● Deploying individual agencies.
● Allowing the generation of user-generated content.
Why should you market in the Metaverse?
The current era is a digital dependency with immensely transformed consumer behavior. It has increased manifold since the advent of the COVID-19 pandemic since more people are shopping, working, playing, and learning online. Metaverse seeks to blur the line between physical and digital realities, thus changing the experience of the world.
For various companies, metaverse presents them with an opportunity to reach new audiences, improve consumer confidence, and explore a potential revenue stream. GenZs are currently dominating the metaverse, and their values as consumers are immense, with their spending power in the US being $143, surpassing the spending powers of both Millenials and boomers by the year 2030.
The Metaverse marketing strategies
Working metaverse games into the brand’s marketing strategy encourage the target audience to interact directly with you and understand what you have to offer and how you value your products and services. Giant gaming metaverses allow an increase in brand awareness such that it seems organic, authentic, and entertaining.
While some metaverse brand marketing team uses gamification for forwarding a particularly positive message to the customers, some use it to increase customer count in both real and virtual worlds.
2. Brand Avatar experience
The metaverse is a three-dimensional virtual world that requires a representative of your own self to interact there. Just as people in the real world have unique identities, they also want to express the same in the metaverse. A user’s avatar is highly customizable. If you wish to tap right into this desire for self-expression, you can do so by creating a personalized avatar universe. Some brands even capitalized on this and created exclusive experiences for avatars. Genies App made more than 2 million avatars, and users spend about 75 seconds with these branded design wheels. Cheetos, for example, made a customized design wheel that allowed users to pick out orange clothing to personalize the avatars. On the other hand, the Gucci brand pivoted its metaverse popularity to sell the digital versions of luxury items on ‘Roblox.’
3. Virtual Influencers
Influencer marketing dominates on platforms like Youtube, Instagram, and Facebook. The power the influencers have and their direct influence on virtual world marketing are significant. Thus, this strategy’s move into the virtual world was inevitable.
Since humans have avatars in the metaverse, so do the influencers. Instead of real people, metaverse influencers are digital avatars, and some have achieved celebrity status. Influencer marketing platform Keepface allows brands to access metaverse influencers through its Metafluence Subsidiary.
Various brands have used this strategy to promote their brands. Each influencer profile includes their Instagram bio, how they identify, their online debut, and where they are from.
It is important to note how brands like yours have used virtual influencers and figured out the best marketing strategy and perfect influencer for your brand. You can use the same influencer marketing strategy in the metaverse as was in social media.
4. Interactive live events
The metaverse is a virtual world where human connectivity is encouraged in different avenues. Live performances, tournaments, and several other events take place in the metaverse, Massive Interactive Live Events or MILE, bringing people together virtually.
There are various such metaverse performances organized after the pandemic. These were a way out during in-person show cancellation. In some cases, the real-world performers co-perform with their metaverse avatars.
5. Non-fungible tokens
A non-fungible token is a data unit, like a photo, video, or audio. Non-fungible means it is unique. Like any other cryptocurrencies, NFTs are stored on a blockchain from which the tokens can be traded. The blockchains have a finite number of NFTs, which is why their values increase or decrease. Simple NFT marketing strategies to create a gamified buying experience worked great for Louis Vuitton. NFT metaverse marketing allows the brand to promote itself and its NFT assets simultaneously. The hype of the brand will increase its NFT value, and the NFT value hike will make more people aware of the brand.
The metaverse has just begun. Various brands have already steeped their foot in this world and applied some strategies that have worked great for them. Many options exist to promote your brands, whether a virtual billboard on any digital platform or offering services only provided in the metaverse. Here, we have mentioned just five of the many strategies applied in metaverse marketing. It will be fair to say that your brand will have to experiment with new strategies until you discover the perfect fit for your business, both in the real world and the metaverse.
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