The metaverse is flipping traditional advertising on its head, so marketers need to think outside the box if they want their messages to have the right impact. Here are three ways companies are exploring metaverse marketing:
- Use gaming ecosystems: Gaming provides marketers with an organic, genuine, and non-disruptive way to inject themselves. Advertising here can take multiple forms, from branded in-game assets, in-game virtual billboards, and advergames (games explicitly designed to promote a brand).
- Consider direct-to-avatar sales: 92% of consumers say customising virtual avatars is significant, and this offers a whole new world of revenue and brand awareness opportunities for companies. Many businesses couple NFTs with a product launch to promote new collections.
- Buying virtual real estate to create ephemeral experiences: Some businesses are developing ephemeral metaverse experiences to complement real-life events. For example, Hyundai, Adidas, and Vans have built places in the metaverse where shoppers can try and customise items and receive incentives to spend in the real world. These immersive experiences increase brand engagement, reach, and loyalty.
So where do you start? So many considerations. But one thing is for sure: While the metaverse might still be in its infancy – it’s not hype, it’s happening. So you need to start mapping out your metaverse strategy.