Marketers everywhere are eagerly anticipating the rise of the Metaverse, as they know it’s rife with advertising potential. But, they’re not quite sure what marketing will actually look like once it’s here and available to the masses. Still, businesses in every industry, from retail stores, NFT art galleries, banks and of course injury law firms are already looking at ways to take advantage of the blank slate that awaits innovative companies that want to get ahead of their competitors. Here are a few potential marketing opportunities that could be available in the Metaverse.
Beyond Social Media
In Greek, “meta” means “beyond,” so if marketers think of the Metaverse as “beyond social media,” they can start to understand how marketing may work in this social-gaming-shopping-economic space. The ideal concept of the Metaverse is to mimic real life in that there will be all types of community activities taking place in a virtual world. There will be digital money exchanging hands, virtual concerts to attend, meetups with friends in coffee shops or bars.
The Metaverse will be a place people can visit to get information, like learning about their rights in a personal injury case from a virtual law office of a company that exists in real life. It will be a place to purchase items you can’t get from brick and mortar stores. You’ll be able to do many things you already do in the real world, but there will also be things that are impossible in the real world. For example, Nike is already designing sneakers with wings to help you virtually fly. That’s a pretty cool way to advertise the Nike brand.
If you look at that description of the Metaverse, though, it doesn’t differ that much from today’s social media. You can get information from Facebook or Twitter. You can buy virtual objects from online games. You can exchange digital coins on various crypto platforms, attend virtual concerts on Facebook or YouTube, meet up with your friends using various online tools. But in the Metaverse, all of these things will be “beyond” what you can do today.
Banners, Ad Campaigns, and More
There will surely be all the same types of advertising available in the Metaverse that are currently available on social media platforms. You’ll probably be able to buy banner space or have something similar to pay-per-click ads that can take visitors right to your store. But, there may also be opportunities for virtual billboards, 3D experiential events, concert or sports sponsorships, product sampling experiences, and more. The possibilities are limitless, especially once the Metaverse grows and more people visit it.
Influencers With a Twist
The Internet gave rise to the social media influencer, and the Metaverse, again, will likely take this concept “beyond.” There may be such a thing as a “virtual human” in the Metaverse, which will essentially be a 3D AI character, brands could feasibly create their own influencers that cost less money and can become exactly what the brand wants right from the beginning. An entirely new way to advertise could be developed through this mechanism.
Since the Metaverse is still in its infancy, there’s no telling exactly what marketing will look like once it’s fully developed. But marketers should begin to think about how to get their message across in new and inventive ways as they prepare to go “beyond” what they ever dreamed was possible.
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