Complete Guide To The Metaverse Marketing (Future Of Digital Marketing)

“I believe the metaverse is the next chapter for the internet” – Mark Zuckerberg

No one ever imagined the exceptional transition of augmented and virtual realities into something called “Metaverse”.

Have you read Neal Stephenson’s Snow Crash? Or, did you watch the renowned “The Matrix” film? Okay, leave it all. Did you ever get a chance to go through Ernest Cline’s book series called Ready Player One?

What do these have in common? Yes, you’re right! It’s the Metaverse concept.

Just a few years back, Metaverse was an unachievable concept limited to storylines and plots. Thanks to AR and VR technologies, the imaginary sci-fi concept, Metaverse is at our doorsteps, hiding oceans of opportunities underneath.

Undoubtedly, it’s the talk of the Internet nowadays. With thousands of mentions over social media and Google searches, Metaverse is a buzzword among target audiences, brands, and marketers.

Although metaverse is not a new concept, it has gained tremendous popularity after Mark Zuckerberg’s take on it. Meta sees Metaverse as a revolutionary concept, soon to be taking over the digital marketing paradigm.

The change is already here!

Gucci, Balenciaga, Louis Vuitton, Nike, and Coca-Cola have emerged as the top consumer brands using Metaverse marketing. Apart from these hot-shot companies, several small players are rolling their dice in the dimension more rapidly than ever.

Here are some eye-popping statistics to help you get a better picture of the Metaverse marketing opportunities.

The Metaverse marketing sector is likely to become a whopping $1,544 billion industry in the upcoming ten years.

Nike earned $3.1 Million in 7 minutes by launching their next-gen sneakers brand on Metaverse.

Morgan Stanley estimates that luxury groups might earn roughly 10 billion euros ($11.3 billion) from gaming by 2030, with the figure rising to 25 billion euros in the best-case scenario.

The Gucci Dionysus, a logo-embellished bag with a characteristic tiger closure, was sold for $4,115, up from $3,400 at the store.

Nearly 202 million users played Roblox, a Metaverse-based virtual gaming platform and storefront,  in 2021.

According to virtual reality experts, 58.9 million and 93.3 million people in the US will experience VR and AR at least once a month this year.

And the list is never-ending!

Like the above statistics, you can find more figures explaining the stronghold of Metaverse in the digital marketing industry.

Are you willing to know more about the utility of Metaverse marketing for your brand? You’ve landed at the best Metaverse resource! Auxano Global Services is here to reveal all the secrets and steps to ace a Metaverse marketing initiative for your business.

Follow along with the article!

What Exactly is Metaverse?

Metaverse is a relatively new concept. You might not be aware of its meaning till now. So, here is a layman explanation for Metaverse, keeping absolute beginners in mind.

Let’s dive in, shall we?

Imagine creating a world different from ours and carrying our physical experiences into it. That’s what Metaverse is!

It’s a virtual kingdom where you can gain real-life experiences, interact with objects, and make purchases. Developers plan the virtual ‘theme park’ which users can join in the form of various avatars. Their experiences and interactions with the virtual environment evolve based on their decisions and liking.

Many people might consider Metaverse to be a video game targeted at kids. However, they should remember that Metaverse can be much beyond that. It can be the perfect digital marketing version aimed at millennials and Gen Zers. Metaverse is the best fit Hopefully, you have a broad idea of Metaverse. But, you might still be intrigued about the concept of Metaverse marketing.

Let’s get a better picture of Metaverse marketing!

Meaning of Metaverse Marketing

Before proceeding to the steps of Metaverse marketing, you should know its meaning. So, here is a brief explanation of Metaverse marketing.

What is Metaverse marketing, after all?

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It refers to the use of Metaverse by brands and businesses to achieve all marketing goals, primarily better brand awareness and creating a robust presence in the virtual transaction world.

As elite brands join the Metaverse space for marketing purposes, they roll out exceptional statistics and numbers, compelling other businesses to yield substantial benefits from Metaverse marketing.

Moving on, let’s understand more about Metaverse marketing.

Must-know Metaverse characteristics

Like the universe, the parallel world or Metaverse has various characteristics. You should know about its features whether you are a business or a digital marketer.

So, here are the must-know Metaverse characteristics that you should keep in mind when creating a marketing game plan.

1. A never-ending world

Metaverse is a continuously moving world. It will continue indefinitely even after you leave the world. So, it’s a replica of the physical world in the virtual dimension.

2. Real-time existence

The Metaverse does not have separate timing. It has a synchronized timeline with the physical world.

3. Players are independent

The Metaverse players can act independently without thinking about each other. For instance, a player can stand still while others can be virtually shopping and interacting among themselves.

4. Fully-functioning virtual universe

Like the universe, Metaverse allows the users to independently create, invest, own, and sell. Thus, it’s a fully-functioning virtual world allowing users to feel real-life experiences without physically going anywhere.

5. Parallel functioning of different platforms

Another notable aspect of the Metaverse is that it allows parallel functioning of different platforms at a given time. For instance, you can bring elements from one game to another without difficulties.

6. Emphasizes User-Generated Content (UGC)

Metaverse is a user-generated digital world where users can create engaging content for other users to experience and enjoy.

These characteristics can help you create a compelling digital marketing strategy for your brand. Also, you might innovate new experiences with a mix-and-match of these attributes.

How does the future of digital marketing in Metaverse appear?

Why are we discussing digital marketing in Metaverse? It’s because the future of digital marketing lies in the Metaverse.

You already know that Metaverse is an imitation of the real world in the virtual dimension. So, you might be wondering about the appearance of future marketing initiatives in Metaverse.

As the Metaverse gets more populated, the real-life immersive experiences will get carried into the virtual space. For example, you would find brand billboards and hoardings in the Metaverse just like our physical world.

Metaverse marketing will bring better business opportunities like ad placements for virtual world users. For instance, a racing game can have sports cars sponsored by various brands. When users play the game or become a part of such a virtual experience, they can identify those brands and interact with them in Metaverse using virtual currencies.

Other examples of immersive experiences in the Metaverse include:

• Fashion shows and ramp walks
• Live shopping to Metaverse stores
• Product launches in the Metaverse
• Live virtual flagship events
• Product placement in the virtual world
• Enhanced customer engagement, and social and brand awareness opportunities
• Sponsorship, branding, and product placement opportunities in the Metaverse

That’s how the virtual future of digital marketing would appear. Brands will get an all-new, less-crowded, and least competitive space for brands to advertise and acquire leads.

After having an idea of the Metaverse marketing appearance, let’s understand the role of the virtual world in digital marketing.

How does Metaverse play a crucial role in digital marketing?

It won’t be an exaggeration to say that Metaverse can transform digital marketing. The virtual space plays several key roles in surfacing new avenues in digital marketing. Let’s discuss some of the top-notch effects of Metaverse on the digital marketing landscape right below.

1. A new era of customer engagement

Metaverse is all about customers. Do you know? It can drive more engagements than the physical world. Metaverse encourages the target audience to interact and take action in the virtual space. Thus, driving more engagement in a short span.

For example, Nestle Toll House gamified digital service executives to respond in a human-like manner with the customers. Such an initiative can drive 2x engagement with brands online.

2. Innovation

Till now, brands have been reusing conventional digital marketing hacks to promote their businesses online. However, the rise of Metaverse gives them the best chance to innovate and bring better customer experiences to the table.

For instance, brands can get over mundane influencer marketing. Instead, they can provide every potential customer with a unique opportunity to try their products in the virtual space. Thus, businesses can reinvent their potentials which remain unexplored otherwise.

3. Building engaging narratives

Metaverse is an all-new world happening in the virtual dimension. It evolves with each contributor’s actions. So, brands (contributors) can create engaging stories for their audiences. These can be realistic but different from the real world.

Consider Balenciaga’s renowned Metaverse game, Afterworld: The Age of Tomorrow. It enabled users to try the brand’s 2021 Fall Collection with a different backdrop.

The virtual space game happens in different ecosystems from concrete structures to dense forests. So, it helped Balenciaga narrate different stories to attract buyers and invest in the brand.

4. New equipment

Metaverse offers several digital marketing equipment to brands from various avatars to numerous ecosystems. It is the perfect parallel world where businesses can modulate customer experiences to achieve all-new success statistics.

These entities from the Metaverse severely impact modern-day digital marketing.

Now, let’s explore the most lucrative business opportunities in the virtual dimension.

Business opportunities in the Metaverse

Metaverse is a brewery for business opportunities. Ventures of all dimensions can think of at least one way of jumping into the Metaverse and contributing to building a better virtual space.

Do you want to know more about the business opportunities in the Metaverse? Here you go!

1. Product advertisement & placement

As more users join the Metaverse, brands get a wider target audience to impress. They get more virtual spaces for product advertisement and placements in the Metaverse where they could easily grab customer attention. The best example could be various hoardings, billboards, and banners.

2. Event sponsorship

Have you heard about the famous Fortnite-sponsored Travis Scott’s concert? It earned a whopping 45.8 million viewers in 2020. You can imagine the fame and revenue generated by Fortnite through such a successful sponsorship initiative held in the Metaverse.

3. Remote culture promotion

Metaverse helps in promoting the remote culture with office spaces, meetings, seminars, and training sessions happening in the Metaverse. Workers can attend these events through their digital avatars and gain experience while sitting at home.

4. Building digital products

Metaverse gives companies a unique opportunity to build digital products. They can convert physical elements into digital products that promote users to own them in the virtual space like clothes, watches, and whatnot.

5. Metaverse service companies

Innovative brands can come up with investment interests and a rough plan. However, they require specialized companies to transform the dream into virtual reality. So, Metaverse service companies are a massive hit in the modern world.

6. Metaverse hardware

Users can enjoy the Metaverse experience through cutting-edge hardware like glasses, lenses, and headphones. It’s the best time for hardware ventures to launch portable, light, and convenient equipment for users to relish the Metaverse experience.

7. Enhancing business operations

Businesses can simulate their physical workstations in the Metaverse. They can replicate the environment and conditions to monitor their operations and find loopholes if any. For example, Anheuser-Busch mimicked their breweries in the Metaverse for better quality control and supervision.

The above Metaverse business opportunities are the iceberg’s visible parts. A lot more is hidden underneath and remains available for companies to explore.

Let’s get back to Metaverse marketing and discuss the brand benefits.

Metaverse Marketing: Benefits for Brands and Businesses

Lately, we have discussed several aspects of Metaverse and marketing in the virtual landscape. Now, you might be thinking about what Metaverse marketing has in store for you.

Let’s discuss your answers right below!

1. Virtual advertising

Metaverse offers the best way for brands to advertise online, taking their virtual marketing initiatives to all-new heights. Companies can place their ads in the digital environment for target audiences to notice and interact for enhanced engagements.

2. Social media marketing

The blend of social media and Metaverse is the latest concept out there. Metaverse experts predict that virtual avatars will get centralized, from display pictures on social media to the Metaverse.

3. Virtual representation

Brands can portray their products in the digital dimension and allow user avatars to interact with them in Metaverse. It can deliver a 3D product experience to the users’ homes and alleviate their understanding of the offerings in the Metaverse.

4. Exploration avenues

The more the users explore, the higher they engage with your business. Undoubtedly, Metaverse is the best place for customers to wander and explore the virtual dimension. Thus, they are more eager to interact with your business and drive higher sales.

5. Community assistance

As you already know, Metaverse is a lot about user-generated content. So, the Metaverse community remains readily available to help you ace the marketing game in the blink of an eye.

Are you still scrolling to get some investment-worthy points regarding Metaverse marketing?

We won’t disappoint you. Look down below!

Reasons to invest in Metaverse marketing

Metaverse marketing can be a crucial decision for your brand. You should collect robust points that justify your investment in the virtual world.

Here are some reasons to invest in Metaverse marketing. Take a look!

1. Better customer experience

Metaverse is all about feeling the physical world in a virtual dimension. It is the best way to increase customer experience with various products and offerings.

For example, a clothing brand can offer virtual replicas of their garments in the Metaverse. Customers can wear them and carry the look in various environments. Finally, they will make a crypto investment to own the ensembles.

2. The digital world is a buzz

Believe it or not, Metaverse is a buzz among targeted audiences. They are more likely to invest in a brand in Metaverse following the latest trends.

For example, they might not bid on horse racing in real life. But, inspired by the trends, users can increasingly participate in virtual racing in Metaverse.

3. Lesser competition

Although Metaverse marketing is a new-age concept, it’s a less explored world for brands. So, it’s the best time to step inside Metaverse when the competition is far less than the physical world.

4. Higher brand awareness

Users tend to observe more when experiencing the Metaverse. They get inspired by the virtual dimension and believe in the brands they see online.

So, you can get a better chance of building brand awareness among the audiences. Interestingly, they can explore more opportunities to spread their word in Metaverse among the leads.

5. Join the league of innovative brands

As of now, only top-notch and highly innovative brands have invested in Metaverse marketing. So, you can invest in the realm to join their club and create milestones in your industry.

6. Upcoming opportunities

The Metaverse marketing potential remains largely unexplored. The future holds more possibilities for brands. So, it’s the best moment to join the queue and access all benefits at the earliest.

All these reasons make Metaverse marketing a worthy investment for brands and businesses.

A glimpse of the challenges involved in Metaverse Marketing

Is Metaverse marketing as simple as it appears? Nope!

It involves some roadblocks that you should know before jumping into investing in Metaverse marketing.

Here are the popular challenges that you might encounter when curating a Metaverse marketing plan. Let’s explore!

1. Poor Accessibility

Experiencing the Metaverse requires several high-end devices like VR headsets and glasses. However, most of your users do not have access to the relevant equipment.

So, Metaverse can be limited to a specific group only having access to these devices. Consequently, your marketing campaign might be restricted to a fewer audience.

2. Budget Constraint

Another significant challenge that brands might face when migrating to Metaverse marketing is the budget constraint. Honestly, marketing strategies for the Metaverse require more expertise and advanced technologies to depict your story to the audiences.

Such activities are costly. You might require investing in a Metaverse Marketing service company and bringing various next-gen devices to create and experience your marketing campaign in the parallel world.

3. Lack of seamless product placement

More options bring confusion. Metaverse has several spaces for product placement. Such an availability overwhelms the brands and might misdirect them to invest more than their potential.

Also, companies risk advertising the products to the wrong audiences and might lose their investment at once. So, seamless product placement in the Metaverse can be a primary concern for businesses and digital marketers.

4. Data privacy and security

Although studying the Metaverse is an ongoing process, we do not know about several aspects of the virtual space. The digital world has comparatively fewer brands and lesser data sharing. So, Metaverse-loving businesses and marketers need not worry much about data privacy and security.

What will happen in the future? Or, more precisely, how will a more Metaverse population affect data privacy and security?

It might be a major concern and demand regulatory guidelines from the governing bodies. As users have more control in the virtual world, they might manipulate the data shared, pushing the brands to severe troubles.

5. Brand image protection

Finally, the brand image might face tremendous risk in the Metaverse.

As you already know, users have more control in the Metaverse. So, brands might face vandalized brand images and wounded reputations in the parallel world. So, planning the campaign and carefully stepping into the Metaverse is essential for businesses to ace virtual marketing strategies.

These challenges might have intimidated you a bit. Don’t worry! All you need is professional expertise to plan a customized Metaverse marketing strategy for you. Remember that you can ace the marketing game by prioritizing the challenges.

However, you might have another concern at the moment. Let’s find the answers below!

Is Metaverse marketing the right choice for your brand?

Metaverse is gradually becoming the largest marketing trend in the 21st century. As every company, small or massive, steps into the Metaverse, a common question might hit your mind. Is Metaverse the best choice for your brand?

Yes, it is!

Indeed, Metaverse is a challenging concept and brands might feel immense pressure to leverage virtual marketing tactics. It can be the best investment for brands, provided they can plan well and take thoughtful actions.

Also, many companies are stepping into the Metaverse without any purpose. It can be the biggest mistake for the brands. Before jumping into the Metaverse, your team and digital marketers should find out various marketing objectives.

For example, you can join Metaverse to impress the millennials and Gen Zers. Or, you can harness Metaverse marketing to establish that your brand is an innovative and tech-savvy venture.

Similarly, you can think of more objectives before curating a Metaverse marketing campaign.

Apart from stepping into the Metaverse without any purpose, many brands fail to bring more value to their customers in the virtual space. If it’s so, then your investment can go into vain. You should prioritize customer value in the Metaverse and work to benefit them.

Finally, work on a rough budget estimate before saying ‘yes’ to the Metaverse marketing. Can you afford the additional expenses? Metaverse marketing is your thing if it’s a yes!

Checking on all these factors will make Metaverse marketing the best decision for your brand.

Moving on, let’s analyze if your brand is ready for Metaverse marketing and a sudden transition. Keep reading!

Is your brand ready for the Metaverse transition?

Metaverse compatibility is a thing and you should not ignore it. A brand cannot step into the virtual world without taking some preliminary steps. These measures make the businesses ready to jump into Metaverse marketing.

Let’s make your company ready for the Metaverse transition. Here are the necessary measures right below!

1. Modify the brand strategy

While you focus on Metaverse marketing, your existing brand strategy will not work.

Your company and team should rethink the core marketing strategy to ace the Metaverse Marketing campaign. For example, you should consider the best model for your brand – decentralized or centralized Metaverse. Each option has different considerations that brands must keep in mind when designing a resonating strategy.

2. Mindset Change

The most significant transition strategy in your business can be a mindset change. Your company should believe that the Metaverse is a space for skyrocketing customer engagement and brand awareness.

It’s not a mere gaming space for kids. A metaverse is a place where all demographics can assemble and relish new experiences about your brand.

So, such an internal change is the primary aspect in preparing your company for the massive Metaverse transition.

3. Hire Metaverse Marketing company

You require an experienced team to suggest improvements in your Metaverse marketing strategy. Also, these professionals can help you transform your ideas into virtual reality with minimal investments.

So, hiring a professional Metaverse marketing service company is crucial to acing the virtual marketing campaigns for your business.

4. Build 3D models

3D models are crucial for your Metaverse marketing game.

Your company should invest in the building creating avatars and product models to create an immersive experience for your customers. As more businesses join the VR and Metaverse dimensions, 3D models will take the center stage.

Consequently, we will witness remarkable revolutions in the existing 3D models. The most adaptive companies will march with such transitions to prioritize 3D models for their campaigns. So should you!

The above measures will prepare your brand for the massive Metaverse transition. So, before you read the below section, pause and reflect on these steps for a while.

How can brands and businesses get in the Metaverse marketing game?

Metaverse marketing might seem to be a directionless space for your company. It might become a Herculean task to step into the Metaverse marketing game for the newcomers.

We’ve got your back! Here are some strategies to help you join the Metaverse marketing arena effortlessly.

1. Understand your audience

Do you know? The most significant mistake that Metaverse newbies make is misinterpreting the audience.

Yes, Metaverse is a trending concept. Your company might feel industry pressure to embrace Metaverse and provide your potential customers with an all-new experience.

But, investing in Metaverse marketing without thinking about your audience base can be hazardous.

You might have an audience who doesn’t use Metaverse to the extent you think. So, your Metaverse campaign can be useless and would not yield substantial returns in a given period.

Thus, understand your audience and find out if they will feel valued by your Metaverse campaign or not.

2. Focus on creativity

Remember that traditional advertisements won’t work in the Metaverse. You require something extra and more creative to woo the Metaverse users.

Thus, you might require hiring team members with creative brains to ace the Metaverse marketing game for your brand.

3. User engagement is the only KPI

Every marketing campaign has several Key Performance Indicators (KPIs). Metaverse marketing strategies should also have KPIs. Right?

Yes, they have!

Metaverse marketing has only one KPI – user engagement. Your team should gauge customer engagement to understand if Metaverse marketing is a success or failure.

4. Have patience!

Finally, have patience when dealing with Metaverse marketing.

You might not have all the metrics to track your performance in the Metaverse as you have for the traditional marketing dimension. Metaverse is under research and several KPIs to gauge your success will emerge over time.

After you have an idea of making a grand entry into the Metaverse dimension, let’s learn about the initial steps for virtual marketing.

How to Start your Business Journey to the Metaverse?

You have covered most prerequisites for a successful Metaverse campaign.

Now, it’s time to discuss some actionable insights. Let’s understand the initial steps required to launch the Metaverse journey for your business.

 

 

1. Blend yourself in the Metaverse

Do you get frustrated by excessive YouTube ads? Your target audience can experience something similar if your product placements appear superficial in the Metaverse.

Even though you are a new player in the realm, your company should seamlessly integrate the ads in the Metaverse. The best examples can be for Volkswagen and Coca-Cola.

These brands have integrated billboards in the game environments and have successfully promoted 12% buying intentions.

Choose your audience:

Keep your target audience in mind whenever curating a Metaverse marketing campaign.

Choose the best platform:

Your ad placements will work only on the best video gaming platforms. Thus, choose wisely!

Choose the best format:

Do you want a billboard or a hoarding? Select the best mode of Metaverse advertisement for optimum outcomes.

2. Synchronize marketing in the physical and virtual worlds

Stepping into Metaverse doesn’t necessarily imply leaving the conventional marketing strategies behind.

It will be best if you synchronize the marketing strategies in the physical and virtual worlds for the highest customer engagement. Your customers will love your brand if it offers real-life offerings in the virtual format in the Metaverse.

For example, the esports company collaborated with Gucci to develop a $1,427 limited-edition dive watch line. Within 48 hours, all of the pieces were sold out.

3. Sell Virtual Products to Digital Avatars

The digital avatar sector will become a $527.58 billion industry by 2030.

What does it mean? It implies that your customers care about how your brand treats their avatars. They prefer businesses that personify the avatars and work to impress them in the Metaverse.

So, selling virtual products to digital avatars can be a remarkable Metaverse marketing strategy for you.

4. Establish shopping outlets in the Metaverse

Metaverse is a parallel world. It can house your virtual outlets without difficulties.

You can provide your customers with an immersive 3D shopping experience by establishing virtual shopping venues in the Metaverse.

For example, H&M, one of the world’s leading clothing companies, has revealed that their metaverse virtual store, CEEK city, will provide customers a three-dimensional shopping experience.

5. Build immersive experiences

Creating immersive experiences for your customers is fundamental to acing the Metaverse marketing strategy.

You can drive engagements and traction towards your business by hosting live concerts and shows in the Metaverse. Also, arranging for virtual tournaments will help you engage users and drive more interaction from them in the parallel world.

Similarly, you can think of more live events that might encourage your users to engage with your brand in the Metaverse.

For example, more than 10 million users watched Fortnite’s Marshmello concert in the Metaverse. The official post-concert video has over 61 million views. So, Fortnite became the talk of the virtual town after initiating an immersive idea for the target audiences.

6. Offer collectibles

Your users will love your brand that offers collectibles using Non-Fungible Tokens (NFTs). As a tech-savvy brand, you can brainstorm various collectibles and provide your customers with something to cherish and own.

These digital collectibles will help your users think more about you in the Metaverse and engage with the offerings.

For example, To commemorate International Friendship Day, Coca-Cola collaborated with Tafi to create virtual wearables for Coca-Cola’s first-ever non-fungible token (NFT) collectibles in the Metaverse.

How can Auxano Global Services help you?

Auxano Global Services is a leading Metaverse marketing company having experience in developing immersive virtual experiences for several businesses.

Here are the features that make us the best choice for you in the industry.

• Our team comprises top-notch AR/VR developers having optimum expertise in building interactive experiences in the Metaverse.
• We are a team of creative developers who can help you craft aesthetic and mind-boggling experiences in the Metaverse.
• We can help you create the perfect Metaverse marketing strategy that brings traction towards your business, drives more customer engagement, and edges you in the competitive industry.

Wrapping Up!

Metaverse is a massive domain. It holds immense business opportunities and marketing scopes. As Metaverse is gaining an impetus, it’s the best time to become an early adopter and jump into the virtual world. Follow the steps mentioned above and take the necessary measures to establish your presence in the Metaverse at the earliest. If you need our Metaverse marketing services then Contact us now!

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