The Metaverse is a virtual environment that has become a major marketing trend.
But what is it – and why is it so popular?
The metaverse
The metaverse is a virtual, interconnected universe where users can interact with each other. To define it, it’s a virtual recreation of the internet that’s globally accessible, and designed to help many users connect when they aren’t in the same place physically. (like Zoom calls but better!)
How does it work?
Users can access the metaverse through a single-entry point, which is how we currently access the internet. Metaverse events use technologies such as virtual and augmented reality, to create a more real-life experience.
Why is it a marketing trend?
It allows companies to advertise and engage with customers in virtual spaces. Some benefits of metaverse events:
Reach a global audience
The metaverse isn’t limited by any physical or geographical boundaries, so through metaverse events, companies can reach customers all over the world.
Create immersive experiences
The metaverse can offer a variety of immersive experiences, such as virtual reality, augmented reality, and interactive storytelling.
Standing out from the competition
The metaverse allows companies to be leaders and pioneers in a new area, and to create unique experiences – that can make customers more loyal.
Ability to target specific audiences
Gen Z and millennials are used to different ways of working. WFH and remote working are normal for them, and metaverse very much appeals to them and is a great way to reach out to this range of people.
Host events
It’s such a good alternative to meetings, product launches and partnerships! With virtual the world is your marketing oyster – virtual events can appeal to a fully global audience.
Examples of brands using metaverse for marketing:
Nike: Launched virtual stores with exclusive digital items, gamification, and surprise appearances from stars.
Ariana Grande and Travis Scott: Hosted virtual Fortnite concerts (Fortnite is a video game AND a digital platform)
Snoop Dogg: In September 2021, Snoop Dogg partnered with The Sandbox to create the Snoopverse, a virtual world. He released the first music video that takes place entirely within the metaverse
It still needs perfecting
There are some risks that are associated with marketing in the metaverse. These are the potential for rapid feedback loops and also virality on social media. It has been suggested that brand should establish rules of engagement to manage customer experience, intellectual property, user safety, date privacy, and misinformation.
These things will no doubt be ironed out soon though – and then the metaverse will be (virtually) huge!
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