Ready to learn how to drive effective digital marketing in the Metaverse? Well, that’s what we will discuss today in this article.
Metaverse is a virtual world that continues to evolve and grow as more users adopt and technology advances.
Con over 400 million active users, who keep growing each day, the platform is quickly becoming highly valuable to digital marketers.
However, too many businesses are still skeptical about marketing in the Metaverse. So, how can you run a winning digital marketing campaign in this virtual environment?
Before we answer that, let’s understand the basics of the Metaverse.
What is the Metaverse?
Metaverse is a parallel 3D and immersive virtual world where people can travel, socialize, shop, trade, and interact with one another. The use of virtual reality (VR) and augmented reality (AR), among other technologies, makes it possible to access and experience the Metaverse.
Its primary purpose is to offer users a hyper-real alternative world to the current one that’s focused on social connection.
Reasons why Metaverse will remain valuable for digital marketers
Are you having doubts about the future of Metaverse?
Metaverse is growing. Even as many are skeptical about it, Metaverse is adopting new consumers daily. If Metaverse is an evolution of the internet, then there’s no reason for marketers to doubt it. Why?
Here are some reasons why Metaverse will continue to facilitate digital marketing as it keeps growing:
Continuous technological advancements
Mobile devices can access the Metaverse large worlds at a lower latency due to the adoption of the 5G network. Also, the production cost of augmented and virtual reality hardware is falling. Therefore, the market is gradually becoming easier to penetrate as more users access affordable Metaverse support devices.
Comprehensive use cases
Metaverse use cases are widening into sports, retail, entertainment, and education. For example, online gaming lovers, such as multiplayer, are now shifting their interest to Metaverse gaming.
Many companies are also experimenting with enterprise applications, such as virtual employee training, team collaboration avatars, and virtual showroom displays.
The commonality of online commerce
Over the past decade, businesses have twisted their operation into a digital form. Payments for most goods are now made easily over the internet.
The virtual goods economy also generates revenues for many business owners. In the future, cryptocurrencies will ease the process of setting up a crypto-wallet on Metaverse.
So with the simultaneous use of virtual and physical transactions, Metaverse will continue to exist in the economy, making it easier for businesses to operate effectively.
Digital Marketing challenges in the Metaverse
Before you start marketing in the Metaverse, it is great to understand the challenges you will likely face so you can be prepared to handle them.
While it is not possible to eliminate all of them, knowing them will help you strategize your marketing so that these impediments will not impact much of your marketing.
Limited accessibility to Metaverse hinders mass marketing efforts.
Theoretically, Metaverse is accessible to every household. But practically, not every user can access the technology and high-speed internet that allows access to Metaverse.
Metaverse accessibility is a challenge to digital marketers, businesses, and users. For instance, buying virtual property in Metaverse is quite expensive. So, only wealthy individuals and big companies can afford to access most of the features within the Metaverse.
Thus, such impediments can affect the possibility of mass marketing in the Metaverse because of the limited potential market.
Misinformation and confusion about Metaverse
There is instability and uncertainty about Metaverse and its future. Many influential sites have kept discouraging the masses and businesses not to invest in the Metaverse.
Furthermore, the fluctuations in the cryptocurrency market fuel the discouragements even further.
Additionally, navigating through Metaverse can be difficult due to the failure of brands to define their places in the virtual worlds.
All these affect the adoption of Metaverse because it becomes challenging for users to integrate naturally into the virtual world. Consequently, these issues will ultimately undermine your digital marketing efforts in the Metaverse.
Amplified social issues and concerns undermine the adoption of customer-centric approaches
Metaverse is currently far from a frictionless operation because of concerns about user safety and social issues. It has some gray areas, which have the potential to harm your brand and affect how you do marketing on the platform.
Virtual crimes in the Metaverse, like assault, are also prevalent. The victim’s view of these crimes in virtual realism is genuine and consequential, as it is in the real world.
These negative experiences in the Metaverse could ruin users’ trust in brands and advertisers on the platform.
Moreover, Metaverse is still new, and customer needs and expectations keep evolving, posing a challenge for digital marketers to run effective campaigns.
Data privacy could hinder targeted advertising
Data privacy in Metaverse is a big worry to Metaverse users. According to Statista, tracking and misusing personal data in Metaverse is a big concern among internet users.
Of all the respondents, 55% indicated data privacy as a significant issue, and 24% called it a minor but still a concern. Only 21% of the respondents feel that data privacy is not an issue in Metaverse.
Internet users have already considered privacy as a significant point of concern. Therefore, data privacy violations can reduce your potential audience’s trust in the platform as most users tend to avoid platforms that can leak their confidential data.
Learn more: Top 10 Most Important KPIs for Digital Marketers
Effective digital marketing techniques to adopt in the Metaverse
Now, let’s dive into the techniques you can use in the Metaverse to ensure that your digital marketing strategy is effective.
Create Metaverse Brand Assets
Consider creating your brand identity on Metaverse to create a compelling and unique user experience on the platform. It’s similar to creating a unique brand on other digital platforms.
The best technique to focus on is developing unique metaverse brand assets that can distinguish your brand from competitors.
To support your metaverse brand, you can use non-fungible tokens (NFTs). NFTs are digital assets acquired like many physical assets.
Ensure you create a type of NFT that your audience will love. Branded NFTs for metaverse marketing increase your brand awareness. And the best part is that the development process of NFTs does not need you to be an expert.
Many online resources can guide you in developing your NFTs. When you create your branded NFT, users will always take something that can represent your brand.
Induce gaming into your strategy
In reality, Metaverse is like a virtual reality game. So, you must make your marketing strategy render unmatched excitement to users, just like in gaming.
To achieve this, you can create mini-games to grab the audience’s attention. There are a series of games you can use to engage with visitors regardless of the type of your brand. The games can be simple and can include things like cooking games.
You can award the users with gaming cards, points, or brand assets for each game they play. These awards will urge them to come back and play to the next level the next time. So, gift cards can enable you to reach a diverse audience.
Metaverse marketers are benefiting from gift cards from companies like Nintendo and Xbox. The gamers price the gift cards and later use them to make in-app purchases from various virtual businesses. Thus, it turns gamers into passionate brand supporters.
Create live immersive environments
Avoid limiting your marketing strategies to the present scene only. Make your next big move by creating live immersive environments for real-time interaction between users and your brand.
Immersive marketing technology is what you shouldn’t miss mastering to take Metaverse Marketing to the next level. You need to look at the positive part of this technology and not the cost, as the rewards will be more significant.
So, consider live events in the Metaverse, such as video shopping, concerts, and parties. If you plan this correctly, users can experience a similar level of fun and socialization, just like in the real world.
Because more customers always follow a more innovative brand, your brand will acquire more following and visibility, which may increase brand sales.
Replicate real-life digital marketing in the Metaverse
It would be best if you replicated your successful marketing techniques to achieve the same brand awareness and engagement on Metaverse.
Most of the successful real-life marketing techniques you already use can form the basis of your metaverse marketing techniques. And if you replicate your real-life marketing strategies in the Metaverse, you can successfully get the attention of your target audience.
And the lucky part is that you don’t need to acquire a new tech stack to replicate your marketing. You can use the current lead generation software or keyword research tools to create and manage your metaverse ads.
You can let shoppers try new things virtually before buying. That means Metaverse can be a significant testing ground for your products. That way, before creating goods, you will first need to create them virtually, and if successful, you release them into the physical world.
Sell digital products for Metaverse Avatars
Online identity is crucial in the Metaverse. In the virtual world, avatars represent people. People spend money in the 3D virtual environment just as they do in the real world. The spending has led to the emergence of a direct-to-avatar or D2A economy. D2A allows brands to sell virtual retail products to avatars.
Because avatars have similar financial behaviors to people in the real world, you can introduce new digital products that match a service they commonly use. You can use augmented reality to make people visualize your products in real time. Reports show that 61% of people prefer shopping in stores that offer AR.
Create virtual venues to boost your Metaverse presence
You can open a virtual 3D venue to establish your metaverse presence. A venue can be a virtual island, museum, store, or anything related to your brand that offers tryouts, tours, and interactive 3D exhibits in your virtual venue.
An interactive virtual venue will give you a high chance of meeting your customers’ needs. Therefore, to win in marketing using a virtual venue, you should make it interactive.
The launch of your virtual venue should be on your virtual site to build a first-party data strategy. Also, it’s a good idea to launch two or more virtual shops, depending on the size and quantity of your 3D shop.
As the Metaverse evolves, its levels of adoption continue to rise. As the use cases rise, your brand has a better chance of engaging with the Metaverse audience.
You must do thorough testing and be ready to learn any emerging trends in Metaverse marketing. However, ensure that, whenever possible, address the concerns that users may have to help more users find it safe to use the platform.
Metaverse is an area with great potential future even beyond marketing. To create value throughout the enterprise, you can use the techniques in this article to be successful in your marketing strategies.
Get All Your Marketing Data in One Place
Dataslayer automatically pulls all your marketing data from over 40 data sources to your favorite destinations, be it Google Data Studio, Google Sheets, Google BigQuery, or BI tools (Qlik, Tableau, Power BI) with API.