Metaverses are anything but new. But only recently have they become a real buzzword. Hyped as the next big technology, they are an ever-growing field that will undoubtedly keep marketers on their toes and challenged. To succeed in the virtual world, a well-thought-out marketing strategy focused on innovation, immersive experiences and digital rewards is essential. Marketers must embrace technology and adapt their tools and strategies to the changing times. Recently, we have seen a massive evolution of digital and social media, and it is clear that marketers must find new ways to reach consumers.
New Opportunities for Digital Marketers
The metaverse integrates the physical and virtual worlds, creating the shift towards more holistic and immersive experiences that we all experience. Technology is the key player in the ‘metaworld’ that allows users to interact through digital avatars, games and blockchain technology. It is also one of the foundations of Web3 technologies, and marketing strategies must adapt to everything that is part of Web3.
For marketers to run successful campaigns in the metaverse, they should employ effective marketing strategies that meet the needs of Generation Z and focus on innovative immersive experiences. Passive content marketing, such as infographics and videos, will likely become less popular as demand for interactive experiences increases. Marketers and brands need to position themselves for better engagement and create a brand identity based on metaverse assets. These assets can be in the form of non-fungibles tokens (NFTs), digital avatars or identities, coins and tokens, all of which can be added to a marketer’s toolbox.
That’s not to say that the strategies that are already working cannot still be utilized. Content marketing, targeting through data and location information, social media marketing, and metaverse technologies can all coexist and be integrated to develop a holistic, well-thought-out plan.
Storytelling through live immersive experiences
Many brands, especially fashion houses, have realized the immense potential the Metaverse holds and have started creating digital versions of their products for selling. The popular fashion house, Balenciaga is now designing and selling virtual designer wear for sale. Gucci, a well-known name, recently sold its famous Dionysus bag as an avatar accessory at a higher price than its physical counterpart. Gucci’s partnership with other brands to market their products in the Metaverse stems from the brand’s strategy to cater to Gen Z specifically in order to fuel revenue growth. These tools are primarily used to target Gen Z who have a strong desire for self-expression and interaction with their favorite brands – two things offered by the Metaverse.
It is therefore very likely that immersive, live virtual experiences for brands will become an asset for marketers in the near future. Pizza hut has already realized how storytelling and interactive engagement with consumers can benefit them. They have jumped on the Metaverse bandwagon and created virtual shopping experiences so that they can get to know the pizza lovers. They have also created NFTs as a prize for attendees of the virtual ‘Complex Land’, also giving them a chance to win a free pizza for a year. This clearly illustrates how the Metaverse is creating new avenues for connectivity. Performances, games, live immersive experiences where people can explore virtual worlds through creating their own avatars and indulge in creative self-expression – all of them are bringing companies and consumers closer. Metaverse marketing provides the foundation for targeting customers based on their preferences in the virtual world and then capturing that information to improve it.
Forming organic partnerships as the next step
As the metaverse brings together brands, businesses and individuals with similar goals, it means partnerships are formed to create new messages and reach a larger consumer base without physical constraints.
MEmob+ has taken this opportunity to partner with Artifact Labs, a premier provider of 360-degree support for brands and creators in the Metaverse. We will jointly provide brands and companies strategic advisory for the Metaverse utilizing Artifact’s NFT & Metaverse focused products in addition to MEmob+’s blockchain consulting for clients, and leverage each other’s expertise to lead projects that fall under the Artifact umbrella. It is our aim to form collaborations that help our clients reach their marketing objectives by creating digital identities while we partner with the best in the industry to help them navigate through all the steps till execution.
Metaverse is vast, – and so are the opportunities it brings. These are only some strategies that can be used by Marketers and brands which can continue to experiment till they find one that works best for them, and helps them connect better with the Gen Z demographic.