Let’s pretend you’re browsing the aisles of a metaverse mall. You are using a digital avatar and can circle a piece of furniture to observe it from every angle. Using an Augmented Reality viewer you can see whether you look good in a specific pair of pants or shade of lipstick by putting it on first. An AI-powered virtual salesperson may aid you in identifying items, proposing things you might enjoy, and providing customized deals according to your interests and online habits. You just have to click a button when you’re ready to make a purchase, expecting delivery of your items that day or the next.
This is just one possible future for brands in virtual worlds and virtual economies. It’s never been easier for marketers to connect with their customer’s thanks to advanced AR/VR, cryptocurrency, cloud networks, edge computing, artificial intelligence, and the internet of things. Online, such encounters might take place via virtual retail malls, web-based role-playing games, live-streamed entertainment, and social networking platforms in the metaverse, a phrase that characterizes the immersive digital environment.
Marketers may now merge the digital and physical worlds with cutting-edge technologies like wearable fitness trackers and applications that let customers see a piece of art, furniture, and home entertainment devices on their own walls and shelves. Machine learning, 5G, and other technologies that allow virtual experiences to be superimposed on the real world are all part of Augmented Reality (AR) and Web 3.0, the future age of internet development.
While the metaverse and Web 3.0 are still growing, companies may set themselves apart by exploring innovative methods to connect with customers before the market gets overcrowded. CMOs may use the following tactics to acquire traction in the virtual world and profit from the almost limitless possibilities that these tools provide:
Customer comes first
Instead of trying to keep up with the newest craze, marketers can concentrate on improving the consumer experience via the use of digital worlds. Marketers may dream big by beginning from the consumer’s point of view and then utilizing the proper tools to imagine realistic virtual interactions that empower the consumer to choose their brand. New technologies should be easily integrated into these encounters in order to create experiences, goods, and a feeling of community that promotes brand engagement.
Virtual trade cards including brief highlight films of NBA stars, for example, have been produced by the league. There are non-fungible tokens (NFTs) that may be bought and sold online. Virtual trading cards may be collected and exchanged in the same way as traditional paper trading cards, giving fans a fun way to show their support for their favorite teams while also learning about cutting-edge technology.
Pair digital with physical
Leveraging the technology of Web 3.0, marketers can integrate real items with virtual experiences—piquing customers’ interest and decreasing the barrier to exploring virtual worlds. For example, several apparel companies are coupling fresh goods releases with virtual currency. Adidas, for example, just produced an “Into the Metaverse” streetwear and NFTs line. Exclusive digital content and tangible goods, such as sweatshirts, tracksuits, and beanies, were made available to customers who bought NFTs.
A virtual world area has been constructed at Selfridges’ main London store by the U.K. department retailer. Customers may test out the latest video games, VR headsets, and 3D spectacles in the “Playhouse” area. Aside from seminars and other activities, the brand is also fostering a sense of community.
Go for immersive experiences
For marketers, the metaverse may provide a safe haven for experiential activations in the midst of the continuing epidemic. Marketers may experiment with items and experiences that are impossible in the real world, such as apparel that changes color or moves on its own, or live-streamed concerts that enable fans to engage with pop artists via their avatars, in virtual environments.
As an example, Warner Bros. hosted a digital launch party for the film “In the Heights,” where participants could play games, participate in the construction of a community mural, and dance with thousands of people from around the globe in a virtual flash mob.
The United States Golf Association developed an AR app that allows spectators to experience the course of the 2021 U.S. Open and U.S. Women’s Open in real-time.
When it comes to fashion and beauty, today’s innovative technologies provide immersive experiences that are tailored to the individual. Consumers may use digital twins to virtually try on clothing and cosmetics, and some beauty businesses are already using AR and AI to let clients test items online.
Consider older generations, too
Virtual reality defies the generalization that new technologies are more popular among a younger population. Marketers that over-index on Gen Z may miss the potential to reach a larger spectrum of customers using games that enable players to connect with one another as characters in digital worlds, for example.
Take a look at video games, where a number of well-known businesses already have a presence. According to Deloitte’s “2022 Global Marketing Trends” study, almost one out of every five respondents had recently purchased a video game. 25% of in-game buyers are between the ages of 26 and 46, with just 8% being beyond the age of 46.
Immersive digital experiences have the potential to enhance the purchasing process for a wide range of products that appeal to consumers of all ages, including automobiles, electronics, clothing, and furniture. The premium fashion game Drest, for example, enables players to buy tangible replicas of their favorite garments as well as compete to design digital ensembles.
Experiment and take risks
In the early phases of development, the metaverse and Web 3.0 are ready for new ideas. It’s too early to say which firms are the most well-known. There is a lot of space for experimentation, whether businesses are investigating existing platforms like videogames and cryptocurrency, building their own immersive experiences, or using emerging technology to construct virtual worlds.
According to US Patent and Trademark Office papers, Disney has patented a “virtual-world simulator.” Individual visitors to Disney’s theme parks will be able to enjoy tailored immersive experiences without the need for AR devices thanks to a simulator that tracks their changing viewpoint. When approaching Cinderella’s castle, a group of visitors might engage with a Mickey Mouse projection or play roles in a virtual themed environment while touring the park.
When businesses go into Metaverse marketing, many factors need to be carefully considered. The brand has to find a means to defend its image and reputation. In the Metaverse, everyone may access the platform and, if unsecured, malicious actors can do anything they want. Any sudden digital catastrophe may develop when fraudsters or hackers come on the network. In addition, data privacy and efficient customer intelligence are also a barrier to companies when not implemented correctly.
With this new technology businesses still don’t know where to begin marketing in the Metaverse. Cooperative Computing can help your business navigate the brave new world of Web 3.0. Contact our experts!