Metaverse Marketing Strategy

18 Jul 2022
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The metaverse race is on & every company is now talking & investing in it. Plenty of brands are venturing into the next era of the internet. So, it is clear that the metaverse is going to shape the future business & marketing strategy. Now, companies have to research & leverage metaverse marketing terms with the other online marketing strategy.

Now, digital marketers need to cope with the latest technological development in the metaverse space. This process definitely requires them to understand the metaverse environment & its full potential from a marketing perspective. 

So, a big question arises how should digital marketers or agencies adapt to this metaverse marketing? They need to understand that metaverse is not just a trendy thing, people are going to perform their online activities here in the near future. With that kept in mind, let’s have a look at how online marketing should be done in the metaverse.

Why Should You Market In Metaverse?

I can say Metaverse Marketing is the new horizon of digital marketing of the future. Metaverse creates a brand new marketing ecosystem that works similarly to the blockchain. This new marketing strategy allows company owners to connect with their customers in ways that have never ever been possible before. It is going to change the concept that you are acknowledged about digital marketing.

Today, business is showing advertisement that we can see on google or another web page. With the advancement of metaverse technology, you will be able to see digital billboards hopefully. For example, a video gaming ad tech company Bidstack enables in-game advertising on virtual billboards. In addition, companies already offer immersive experiences to the users  Lil Nas X concert in Roblox, a virtual rendition of Washington Heights. Brands are now discovering new revenue streams with the collaboration of Roblox metaverse & another metaverse platform.

Brands are now focusing on how to do metaverse marketing as it will allow them to connect with their customer base in the newest form. Already the biggest existing metaverse Fortnite & Roblox are offering different opportunities in the gaming sector. According to a journal called The Wall Street- a skateboarding brand has launched a virtual skatepark in Roblox metaverse. It allows the players to try new tricks & let them earn points that give help them to reem their virtual store so that they can customize their virtual avatar.

So, you can see how digital dependency has transformed consumer behavior. Overall, the metaverse is a vast place with opportunities for business. Leveraging the best metaverse marketing strategies can only help you to gain insight into this digital world.

4 Best practices For Metaverse Marketing

Native Advertising

Advertising is most of the time interruptive & annoying in the digital space, also it is not different in the metaverse. You can advertise your product as similar as you do for the digital platform. But you should keep in mind that, don’t pull out your customer’s attention in that time what they are enjoying. You have to integrate your advertising naturally which allows your consumers to interact with your brand. In the metaverse space, you can do it using digital banners, billboards & leveraging your brand logos on the buildings. 

In-game virtual billboard strategically displaying is the most effective way to display your brand in the metaverse. Some branded companies such as Samsung, and Coco cola have their own virtual billboards within virtual games(Football Manager and Hyper Scape). According to a video gaming ad tech company Bidstack, this type of advertising increase purchase intent by 12%.

Leverage  Real-Life Marketing Techniques That Already Work For You

A good marketing strategy is to replicate what you provide in your real-life marketing. In the metaverse, it is not always mandatory to do things differently. By integrating your real-life marketing technique it will be easy to enter the metaverse & show authenticity to your loyal customers. A perfect example is the marketing campaign of Deliveroo. Their virtual riders provide a special offer to Animal Crossing players across multiple islands. Players also receive promo codes which they can activate in real-life. This makes the in-game moment a reality.

Additionally, to increase brand awareness, you can show real-life causes with the solution. A mayonnaise brand company- Hellmann is committed to reducing food waste at Animal Crossing as well. Through their spoiled turnip campaign, they have donated 50K meals to Fare Share UK- the largest charity for hunger & food waste.

Develop Digital Brand Asset: NFT

Brand products drive brand awareness & increase brand value both in the real-life & digital world. So, it is not different for metaverse space. To create brand awareness in this space you have created your own NFT as your brand asset. In the virtual space, digital collectibles require digital assets like NFT, which means your collectibles such as digital art music, or other things are encrypted & unchangeable unless you sell them to others. Brands like- Nike & Adidas have shown their interest in NFTs. In this way, the metaverse works as a marketing dimension to develop digital assets. The famous brand Coco cola launched its Ethereum-based NFT loot box, metallic wearable red bubble jacket & other digital content.

Fashion Brands Can Use Avatars As Models

This approach is also known as meta influencer marketing in the metaverse. This marketing practice is vital in engaging customers in the meta-communities. Last year, a digital model Daisy was created by Yoox on Instagram to make clothes more personal & familiar. This model avatar was created based on Yoox user data & customer preference. Additionally, popular fashion brands Prada & Puma have been using digital fashion models. Collaborating with virtual influencer  Lil Miquela created by LA-based Brud, Prada showcases its clothes.

Sell Virtual Goods To Avatar

Like real-life, people love to spend money to customize their digital avatars. 92% of the consumers value personalization while creating their digital avatars. This approach allows companies in the metaverse to retail digital products directly to the avatar. This is known as the Direct-to Avatar economy & fashion brands are taking advantage of this approach effectively. Gucci has already sold a digital bag worth $4000 & Digital Couture sold a dress for $9500 on Roblox.

Metaverse marketing is a whole new thing for digital marketers as SEO techniques, social media marketing & content marketing will be a little different than the web. It will come up with many challenges but my suggestion is don’t afraid of being innovative when it comes to metaverse marketing! If you are a brand owner, definitely you are eagerly planning something big to bring your brand into the metaverse.

 

Royex Metaverse is a leading Metaverse App Development Company in Dubai, UAE. We are at the forefront of adopting and developing the next generation of Internet technology - Metaverse. With leading Metaverse App development services and solutions, we can help you uncover new possibilities! Our Metaverse App Services and solutions let you create dynamic and realistic virtual worlds and real-world environments for better business collaboration. If you want to develop your Metaverse Store we are here to develop a unique Metaverse Store for your business. Check Royex Metaverse Store

 

 

The book "Metaverse - The Future Is Here" is the definitive guide to learning about the emerging technology Metaverse. You will find in-depth information on the origins of the Metaverse, its evolution, how we can access it, the different Metverse platforms available, and the technologies powering it; apart from the basics, the book also elaborates on how businesses can enter the Metaverse, various marketing strategies, its use cases for various industries, social and legal implications, and discusses what Metaverse in the future will look like.

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