Metaverse has become the biggest platform for marketing, especially during the pandemic. For those unfamiliar with the term metaverse, it’s the digital environment populated by virtual avatars representing people. Don’t get it yet? Just imagine a video game, Fortnight, where avatars play the game in real-time in a virtual reality game. They fight against other enemies and attend events that are held in the virtual world.
Metaverse is no more limited to video games; its steady growth has opened great opportunities for marketers as well. The marketing approach is evolving with changing preferences. As we descend further into a digital marketing landscape, the online space has become for smart start-up marketers aiming to boost exposure.
With more than five billion internet users worldwide, the digital sphere continues to adapt to accommodate forms of interaction, communication, and entertainment for a digitally smart demographic.
As the globe is becoming more tech-savvy, demand for digital transformation continues to be more apparent than ever before. There are lots of technologies that power metaverse; immersive aids like the Oculus Rift VR headset aim to pioneer the path forward towards a modern virtual reality and augmented reality. The metaverse is trending as brands like Facebook, Google, Microsoft, Snapchat, Epic Games, Roblox, etc., are using it for one or other purpose.
Some Interesting Facts Showing Importance of Metaverse
The metaverse is active and exists in real-time; players own their individual agency; it is a fully functional and self-contained universe and includes user-generated content. However, lots of industries are investing in metaverse development services to transform the way of communicating, playing, and even working.
The gaming sector was first to take advantage of metaverse potential. Statista report shows that the number of VR and AR users in the US was around 83 million in 2020; the corresponding figure is estimated to reach around 110 million users in 2023.
Fortnite had its most profit, with more than 10.7 million players steering up for the Marshmello concert. Additionally, in the past event in 2019, the game saw the most promising day ever, with about 7.6 million players in the game concurrently.
In 2020, Fortnite also hosted a Psychedelic Travis Scott concert which was watched by more than 45.8 million people. Travis’s youtube channels have more than 77 million views for the shows, while there were approximately 12.3 million concurrent players participating.
The event was watched by many people that could ever pack into the most significant concert venue. Epic Games concluded that millions of concurrent players participated in the concert, which provided a new record.
A virtual Gucci Dionysus, a logo-encompassing bag with a unique tiger closure, was sold for about 4,115 dollars. The price is higher compared to its store price of 3,400 dollars.
Beeple Christie’s NFT sales cost for Everydays was $69.3m for the first 5000 days. The third-highest price is achieved by a living artist. Christie’s sales purely show the strongest indication, yet the NFTs have taken the art market by storm, making the websites premier auction houses.
The list goes on and on; the world is faster than we expect. There is virtual land where people buy and sell land. The augmented reality, virtual reality, and mixed reality market surpassed 28 billion U.S. dollars in 2021. It is projected to increase and reach around 250 billion U.S. dollars by 2028.
Brands are realizing the potential of the metaverse and investing in NBA NFT Marketplace services to see the most return on their investment. Many marketers who were waiting for consuming AR and VR technology to take off have the chance now. The future of marketing is wild as many marketing professionals are opting for innovative and effective ways of reaching tech-savvy customers through modern technology.
The technology brings brands and marketers closer to customers than ever before. It helps them to deliver the message and convey to customers to be loyal. Metaverse is changing everything for marketers; hence it’s time to proceed to the new world.
How Metaverse Will Affect the Future of Marketing?
Metaverse marketing is the advertising approach of the future. It’s a new marketing approach that enables you to easily connect with customers in a way that was impossible before. Metaverse marketing is going to change the way marketers, and you perform digital marketing.
The metaverse is changing how marketers go with the marketing approach. The number of virtual conversations is growing rapidly, and there are a lot of opportunities for businesses to be a part of the conversation while leading it using a series of digital marketing techniques.
The leading businesses like Facebook, Gucci, Nike, etc., continue to slot themselves within the metaverse, using gaming platforms like Roboblox, Fortnite, and more to create immersive forms of modern and advertising forms of viral brand awareness; the sky’s the limit for advertisers on the block.
Metaverse potential market growth results in social commerce and advertising dominating profits as customers move into the virtual future. The new non-gaming metaverses appear, and virtual reality has started to slot itself into business sectors across the world, including healthcare, entertainment, finance, and many others.
The global demographic for marketing potential is infinite. Prioritizing various forms of interactive content is likely to begin a conversation among the targeted audience. Slotting into the digital or virtual space won’t only accumulate your exposure in the metaverse but increase your conversions in the real world too.
Metaverse is Changing SEO
Metaverse is dominating the online sphere; it is time to start optimizing the content for VR success. In a similar way, marketers can optimize their content to create awareness on the Google search engines. It’s time to track the ins and outs of metaverse optimization.
Take a step and review the demographic. Are they Millennials and Gen Z? How is the targeted audience interacting with the metaverse? They are using platforms like Google Analytics to identify the demographic’s trends and engagement within the digital sphere. It’s an excellent way to refocus the target as you move into metaverse marketing.
Experts are unsure about how metaverse will impact the future of SEO tactics. However, one thing that is sure is visual search optimization and keywords. The term “metaverse” has around 272K search volume across the globe in 2022; hence it needs to appear within your content, social platforms, and meta description. Visual search also plays a crucial role in metaverse optimization as Google gets a better understanding of the quality of images and search value.
Building Interactive Similarities
Currently, more than 3% of the content is deemed interactive. Metaverse influences the marketing scene, and experts can go with passive forms of marketing like infographics, videos, and images will increase redundant as new generation dominated audiences demand immersive alternatives.
Snapchat has started to incorporate AR elements into its platform, while Facebook rebranded itself as META. Many other platforms are following the newly immersive route. Marketers who want to survive in the metaverse need to start thinking about building VR and AR-friendly content that promotes interaction and immersion. Interactive content enables searching and developing a parallel between advertising and metaverse characteristics as branding becomes user-driven these days.
Top Advantages of Using Metaverse in Marketing
The advantage of penetrating the metaverse weight out the costs for businesses to create awareness from a predominantly Millennial or Gen Z demographic is a lot more. It helps to offer great experiences to users enabling them to interact with brands’ products or services with ease. Looking to metaverse potential, lots of brands are selling in a virtual setting, which helps them to produce a higher rate of sales leads.
For example, Chipotle, Vans, and Verizon turn to Roblox and Fortnite in an effort to build brand recognition. The skateboarding brand introduced a virtual skatepark that enables users to try new tricks and gain points that they can spend in the virtual store. Vans has more than 48 million visitors and experienced that brand awareness has increased among the age group of 13 to 25 years old people.
The Brands Leading Metaverse
New AR and VR-based tech, like new AR glasses, encourages users to jump into the metaverse of an immersive social landscape; hence it’s no surprise that a number of digital businesses are hopping straight on the trend. Navigating the PR professional is not easy, as users expect both interaction and immersion, and businesses need to do more to meet the growing gratifications.
The active audience needs to actively interact with the approach and check the high level of personalization. From cloth purchases to NFT-based branding, brands are using virtual products and navigating metaverse placement partnerships to gain success with their niche.
Brands That are Dipping Toes into Metaverse World
Metaverse is a new phenomenon for many brands, while many have started dipping their toes into the digital space to provide an improved experience to their potential customers. Product placement has become the fastest way to start exposure within the metaverse.
However, product placement was called an approach within a broadcast, social media marketing, and broadcast business owners are branching out and trying to increase awareness in the metaverse platform, which helps to serve a great group that is likely to engage with digital-based promotion.
Using engaging design templates and world-building platforms makes it easier for marketers to build immersive and creative campaigns. You would be surprised how predominantly gaming-based platforms like Fortnite and Roblox are able to expand their demographic reach. Other brands that are using this new technology are as below:
- Balenciaga’s Immersive Clothing Collection
- Pokémon and Selfridges’ Virtual Collaboration
- Clinique’s MetaOptimist Campaign
Get Ready for the Future with Metaverse!
Undoubtedly metaverse is an audience targeting tool of the future. Marketers can use digital space to keep their audience engaged and up-to-date with the product’s details. Its immersive marketing tool defines the future of engagement and growth for brands across the globe.
Gaurav Kanabar is the Founder and CEO of Alphanso Tech, an India-based IT Consulting company that provides a Cryptocurrency Exchange Script, Metaverse Development Services, music, and video app development services to individuals as per their specific demands. Besides this, the founder also loves to deliver excellent content helping readers to have deep insight into the topic.