In 2021, the metaverse became increasingly important. Dozens of brands are embracing the next generation of the internet, from luxury items to limited-edition collectibles to digital concerts.
In spite of its infancy, the metaverse will play a significant role in business and marketing in the future. What should be your metaverse marketing strategy? We have compiled several tips and strategies about metaverse marketing for you in this article, along with some examples you can use.
Why Metaverse Marketing Is Important For Business Success?
Consumer habits have shifted dramatically as a result of the digital revolution. More individuals are doing their shopping, working, playing, and learning online in part because of the coronavirus outbreak. Physical and digital solutions can be found in the metaverse, according to its advocates. By blurring the barrier between reality and illusion, it aims to influence our perception of reality.
A chance to contact new customers and boost consumer confidence is a potential income stream for companies. When it comes to in-game money purchases, Roblox has 200 million active users who spent $319 million on the platform in the second quarter of 2020. Surprisingly, 67% of the platform’s user base is under the age of 16.
Since Gen Z’s represent the majority in the metaverse, it is impossible to overestimate their importance as customers. Experts expect that by 2030, their spending power will surpass that of millennials and boomers.
The core of the metaverse is engagement. And with greater engagement comes greater opportunities. Read on to learn about the best metaverse marketing strategies.
1. Indulge yourself quietly in the platform
Advertising is, by definition, obtrusive. In addition to being distracting, the five-second commercial that appears at the beginning of a YouTube video may also be irritating. Engaging with people without disturbing their gaming experience may be achieved by integrating oneself organically within the platform.
Using in-game advertising native to the game is one method of accomplishing this. Games like Football Manager and Hyper Scape have virtual advertisements for Coke, Samsung, and Volkswagen. 95% of gamers reported that these adverts improved their gaming experience and boosted their desire to buy, according to the in-game advertising platform Bidstack.
Here are a few pointers for creating in-game advertisements:
Consider who you’re trying to reach with your message.
What motivates your audience? Do you think of them as casual, mid-level, or serious players? Your in-game campaign will be greatly influenced by how you classify your target demographic.
Play video games on the proper platform.
With the right platform, you can expand your audience while maintaining your brand’s identity. More casual gamers may be reached through mobile games, whereas PCs and consoles have a greater appeal to average players.
Select your format.
In-game applications can feature video, audio, and banner adverts in addition to virtual billboards in digital sports stadiums. Make sure your goods can be identified by their format. When promoting his album “King’s Disease II,” the recording artist Nas employed in-game audio advertising. An average of 1,275 percent more people clicked on it compared to regular in-game advertising.
2. Marketing in the virtual environment
You don’t have to do everything differently just because you’ve entered the metaverse. A smart place to start is by replicating what you now provide in the actual world in the parallel virtual universe. Your brand will be noticed since it’s an organic way for users to access the metaverse.
Deliveroo’s Animal Crossing marketing campaign is a good illustration of this. Multiple island-wide deliveries were made using virtual riders from the online meal delivery service. Those who participated in the game received both a virtual delivery and a promotional coupon that they could use in the real world. Deliveroo’s marketing effort attracted 3 million in-game interactions in the first hour.
Increase your brand’s involvement by bringing your real-life cause into the metaverse. Food waste reduction is an important issue for Hellmann’s, the company that makes mayonnaise. Players were asked to give their “virtual rotten turnips” to a good cause on the company’s own virtual island. FareShare, a non-profit that fights food waste, got 50,000 meals thanks to Hellmann’s.
3. Selling goods to digital avatars
In the metaverse, where avatars stand-in for real people, having a strong online identity is critical. Research shows that 92% of consumers appreciate personalization when creating virtual avatars. People in the 3D world, like those in the real world, spend a lot of money to express themselves.
Direct-to-avatar (D2A) is emerging because of this. Direct sales and retailing of virtual goods to avatars are now possible because of this technology. It’s only natural that fashion labels would seize this window of opportunity. With the help of Fortnite, Balenciaga has created a line of virtual clothing and accessories that gamers can buy for their characters. On the other hand, Gucci has sold a $4000 digital bag on Roblox.
Tips to assist you to get into the D2A industry are provided below.
Assemble a team of in-platform makers
You’ll be able to develop virtual items that may be used in games like Fortnite or League of Legends by collaborating with online game worlds like these. Digital clothing may also be made to be worn and traded by utilizing 3D and AR platforms with open marketplaces. If you’ve never used 3D software before, the Fabricant Studio is a good option.
Play around with augmented reality.
The ability to see clothes in real-time via the use of augmented reality (AR) is poised to transform the way consumers purchase. According to a study on the influence of augmented reality on retail, 61% of customers prefer to buy at establishments that provide augmented reality. By allowing customers to wear the shoes in augmented reality, Gucci made news earlier this year and set the bar high for other companies.
Turn your virtual asset into an NFT.
Using NFTs or non-fungible tokens, you can see exactly where your virtual clothing came from and how it was distributed. As a result, it helps to establish customer confidence in the product’s legitimacy. It’s possible to sell your virtual items on an NFT art marketplace like Rarible and receive royalties in your digital wallet as a result.
4. Develop Immersive Experiences
One of the most effective ways to keep customers interested in your brand is through experiential marketing. Brands that focus on creating memorable experiences acquire 25% greater brand loyalty than those that don’t, according to research Customers are taken out of their comfort zone when they are given the opportunity to participate in an immersive event. As a result, you may build long-term relationships with your customers.
In the metaverse, you may employ these immersive experience campaigns.
Performances at a live concert
A virtual music event is a great way to get your business in front of potential customers. 12.3 million Fortnite gamers saw rapper and producer Travis Scott put on a simulated concert as a 3D avatar. While The Weeknd (through digital avatar) performed “Blinding Lights” on TikTok, real-time comments were shown as flashing lights and fireworks in the backdrop during the performance.
Large-scale, real-time interactive performances
Also, huge development may come from involving listeners in the storytelling process. Rival Peak by Genvid Holdings is an excellent example. The live event was a hybrid of a video game and a television program, allowing participants to influence the destiny of 12 AI characters. It was broadcast around the clock, garnering 200 million views and more than 100 million minutes of viewing time.
Advergames
Advergames, as the name suggests, are advertisements disguised as a game. You may use it to generate talk about your brand. Using this method, your goods and games will be talked about by the public. Take Tourism New Zealand’s Play NZ campaign for instance. Players may explore a 3D New Zealand by visiting numerous landmarks and attractions.
5. Offer Digital Collectibles
Humans are born with a need to accumulate things, and this trait will endure into the metaverse. Digital assets known as NFTs are used in these virtual realms as collectibles. A collectible, such as digital art, music, or clothes that is encrypted and unchangeable unless the original owner sells it to someone, is referred to as a “collectible.”
The long-term worth of NFTs is yet unknown, but the marketing opportunities and significant returns make them attractive to businesses. A resale price increase of more than $20,000 has been recorded for Budweiser’s rarer NFT brew. A digitized NBA Top Shot card of Derrick Rose’s layup costs $1 million.
Here are a few ideas for selling memorabilia with your company’s logo on them:
Obtain a discount when you buy in bulk.
Customers purchase goods and services because of the advantages they offer. Your item would be more appealing and more valuable with a one-of-a-kind bargain.
When it comes to a mystery collectible, the Budweiser NFT cans serve as an entry point. Within an hour, the collection was sold out, and its resale value went up. Additional material and a limited-edition vinyl are included in Kings of Leon’s special NFT album. This album’s sales have brought about $2 million for the famous rock band.
Reward yourself with it.
Customers are more likely to engage with your business if you reward them for acquiring your goods. If you go to a Dallas Mavericks home game, for example, you’ll get a free National Football League ticket. These cards can be kept, traded, or sold by fans. They may even be eligible to win special prizes if they amass specific collections.
Items should be included in the package
While NFTs might provide collectors with a sense of uniqueness, they also provide them with something tangible to display. Luxurious watchmaker Longines has a limited-edition NFT watch with 45 pieces on the market, while Burberry has sold out 1,000 scarves with a limited-edition NFT deer.
Closing thought
And lastly, because metaverses are unrestricted, companies must use caution while promoting their products. It is more likely that your brand may show next to dubious material in a metaverse where people have greater power. Additionally, your products run the danger of being defaced or disregarded by other users. As a result, it’s critical that your marketing efforts are smooth, thoughtful, and accurate in order to get customers to share their online space with you and engage with you there.
A hopeful destiny for computing and the internet can be found in metaverses. Even more so, they provide a wealth of opportunities for marketers and advertisers alike to experiment. However, despite the difficulties, the potential to explore, to give an immersive experience, and to be inventive prevails over these obstacles.
If your aim is to scale your business and sustain in the metaverse world, Cooperative Computing can help you with it. Contact our technology experts!
