Facebook’s rebranding to Meta at the end of 2021 has made Metaverse a household word and an Internet buzzword. Just because it is a buzzword does not mean every brand should get involved.
This article will explain how to decide whether Metaverse suits your brand. We will also show you the businesses already embracing this groundbreaking tech innovation.
Why brands invest in the Metaverse
It’s no secret that a 4D virtual universe appeals to consumers and brands. Brands are not just selling products or services but an experience of the future. The Metaverse is a critical component of Web3 and promises to transform society by bringing technological advancements that transcend the digital and physical realm.
According to the Index ™, more than two-thirds of marketers expect to invest at least a fourth of their budget in metaverse tactics within the following year. According to 33% of marketers, their brands are already ahead of the curve when integrating augmented reality (AR), virtual reality (VR), and social media into their strategy.
Brands will be more willing to get on board than consumers who haven’t reached the point of no return.
Gen Z and Millennials, who anticipate the most use of AR, VR, or extended reality (XR), to interact with brands, are in the minority, at 46%. Adoption will increase as the Metaverse becomes more accessible and grows.
Metaverses provide a new way for users to interact, socialize, work, and even purchase. Even though the consumer has slowly adapted, social media is excited about this new technology. According to Sprout Social Metaverse data, from January 10 to March 10, 2022, there was a 102% rise in conversations about Metaverse. On Twitter, the sentiment was 91% positive.
Many big-name companies already use the Metaverse to market their brands and create activations to keep up with the competition. Like the early days of social media and the rise of the Metaverse, companies joining the Metaverse look to be early adopters taking calculated risks to cash in.
Metaverse: Understanding the metaverse
Before you join, you need to know What the Metaverse is and how it functions. You will only be in a position to successfully pitch your brand or implement successful activations if you have a thorough understanding of the Metaverse. It would only be wise to launch a campaign traditionally with research. It’s the same when preparing to join the Metaverse. It’s unnecessary to be an expert to understand interoperability and extended realities.
Metaverse is a new technology, meaning there will be many changes. Metaverse technology will evolve, so stay on top of the latest online discussions and news. Continue to read about Web3/metaverse elements like wearables and cryptocurrency, as you will likely hear more about them.
Check if your brand and target audience are aligned with the Metaverse.
Gen Z and Millennials may be the most active metaverse participants, but other characteristics are important to consider. Brand activation could benefit an energy drink brand or gaming rig on metaverse platforms like Fortnite (MMOs) and Roblox. Energy drinks are used by significant gamers to keep them alert, and gaming rigs allow them to play comfortably. A marketing campaign engaging this audience on a metaverse platform like Fortnite or Roblox (MMOs) could be successful.
Consider how your brand fits into the Metaverse as a whole. Many fashion brands, for example, have entered the Metaverse to sell exclusive digital clothes and NFTs. They are establishing themselves as trendsetters who offer a complete experience.
Brainstorm engaging marketing campaigns.
Brands can use Metaverse marketing to increase engagement and sell products or services. Will you only offer a virtual experience or also include real-life benefits? What are you trying to achieve with your brand? How will you reach your audience wherever they may be? Ask yourself these questions and do some brainstorming.
You can use a virtual billboard to advertise or create a brand installation or event in collaboration with a metaverse. Be sure to limit yourself to these common tactics.
Metaverse Platforms: Choose one
After you have confirmed that your brand and your audience are aligned with the Metaverse, choose the platform that will help you best execute your campaign. It would help to consider which metaverses allow you to connect with users meaningfully.
Join the Metaverse and invest.
After you have completed all the previous steps, it is time to join the Metaverse. Explore the platform you prefer to begin your metaverse experience. Depending on the forum, it can be as easy as downloading software or purchasing hardware.
Metaverse platforms can help you bring your brand vision to life. Contact a Metaverse representative and proceed from there.
How can I access the Metaverse?
There has yet to be a universal portal because the Metaverse is in its very early stages. Interoperability is also a big challenge. There are currently multiple metaverses that you can explore.
You can also use a few different technologies to explore these metaverses. This can include extended-reality wearables (VR), PCs, laptops, tablets, and smartphones, publicly accessible blockchains, as well as decentralized autonomous organizations. This list is another reason to conduct systematic research, exploration, and experimentation.