Despite being one of the most talked-about channels in marketing right now, the true potential that the metaverse could hold for marketers and advertisers is not yet entirely clear. But one thing is for sure: the metaverse will hold a firm place in the future of marketing.
In today’s blog, we explore exactly what the metaverse is, how it is changing and will continue to change the face of the marketing industry, and some of #TeamTrigg’s top tips for nailing metaverse marketing…
What Is The Metaverse?
Although referred to as “the metaverse”, there are technically several single metaverses in existence right now. The leading metaverses currently in existence are Decentraland, Axie Infinity and Roblox.
Whilst a metaverse is somewhat difficult to define, there are a few key characteristics common across all leading metaverses. These are:
- They are unlimited and can continue to grow forever (just like the universe)
- Users are represented by virtual avatars
- They evolve based on users joining and interacting with the space
- They are always active
- They exist in real-time and everything that happens in them happens live
- Players have complete agency (i.e. they are not governed by the ‘storyline’ as in the kinds of games we are used to playing online)
- They are self-contained and fully functioning
- They contain a great deal of user-generated content (created through the agency and evolution of players/users)
Although many industries are creating and building metaverses (take Facebook, for example, which went as far as to change its name to Meta), the gaming industry has been the first to really grasp the concept. There is undoubtedly a whole world of possibilities within the metaverse that remain undiscovered. However, what is clear is that the “early adopters” of this particular evolution are the ones who will see the most return.
3 Ways The Metaverse Will Change Marketing For Good
- Changing The Definition Of Social Media
As the metaverse is a virtual space that allows users to socialise with one another, it is technically a form of social media…
However, with the opportunity to share experiences and interact in real-time with complex simulations, the metaverse goes so much further than our existing understanding of what a social media platform can do.
As it develops, the metaverse will likely act as an extension of social media as we know it, adding an element of genuine immersion and a wealth of new experiences and possibilities. It will combine several familiar aspects of social media, such as collaboration, eCommerce and live events, together with immersive experiences based on virtual reality (VR) and augmented reality (AR).
- Forcing Marketers To Think Virtually
With an estimated value of over 28.4 billion USD, the global Virtual Reality (VR) market is expected to grow at a rate of 15% across the globe over the next 8 years. Thus, for many brands, virtual, augmented, and mixed realities are quickly becoming one of the most prevalent ways of reaching their target audience.
Instead of using the passive content we’re all very much used to (we’re talking text, videos and images, here), marketers will be forced to think out-of-the-box when it comes to their content. Metaverse marketing will include virtual and 3-dimensional visuals and experiences, allowing brands to present themselves and their messages in a way that is far more engaging for users. Brands that create experiences, like virtual events and interactive installations, will be the winners when it comes to metaverse marketing.
- Changing The Concept Of Targeting
If you think third-party cookies are a problem when it comes to your ability to reach your target audience, just wait until you dive into the metaverse.
With the ability to create avatars that are different in practically every way to one’s physical self, targeting in the metaverse is a whole new ball game. Rather than relying on traditional audience personas and demographic information to target audiences, marketers in the metaverse will need to immerse themselves in the virtual lives of their target users. By visualising where, when and how your brand’s target audience will be interacting with the metaverse (and which metaverse they will be spending their time in, in the first place!), a more sophisticated and empathetic set of targeting criteria can be developed.
Trigg’s Top Tips For Nailing Metaverse Marketing
Are you looking to add the metaverse as a key platform in your marketing strategy? Check out #TeamTrigg’s 3 top tips for metaverse marketing:
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To find out more about metaverse marketing, or for support getting your marketing strategy metaverse-ready, get in touch!
+44 203 239 8492
hello@triggdigital.com
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