{"id":75585,"date":"2022-08-12T15:27:48","date_gmt":"2022-08-12T13:27:48","guid":{"rendered":"https:\/\/blog.richardvanhooijdonk.com\/?p=75585"},"modified":"2022-11-24T13:18:08","modified_gmt":"2022-11-24T11:18:08","slug":"marketing-in-this-brave-new-world-called-the-metaverse","status":"publish","type":"post","link":"https:\/\/blog.richardvanhooijdonk.com\/en\/marketing-in-this-brave-new-world-called-the-metaverse\/","title":{"rendered":"Marketing in this brave new world called the metaverse"},"content":{"rendered":"\n<ul class=\"bold-list wp-block-list\">\n<li>Why move your marketing efforts to the metaverse?<\/li>\n\n\n\n<li>Important considerations for marketing in the metaverse<\/li>\n\n\n\n<li>Brands already active in the metaverse<\/li>\n\n\n\n<li>Some interesting metaverse-related facts &amp; figures<\/li>\n\n\n\n<li>The future of the metaverse as a major marketing format<\/li>\n<\/ul>\n\n\n\n<p>Investing in the metaverse \u2013 will this mean you\u2019ll simply be wasting money on a hype? Or will not jumping on the bandwagon lead to your brand becoming irrelevant? These are some pertinent questions many companies would like answered. In essence, the metaverse is a fancy term for describing the evolution of the internet into a much more immersive place, a virtual parallel universe where you can hang out, play games, work, and do business. If we believe the buzz, the metaverse will improve everything that\u2019s already great about the internet as we know it today. It will enable us to be free from physical limitations, enable us to experience new and seemingly impossible things, and help us connect and interact with even more people. It will also offer brands incredible new ways to engage with their audience and enable unprecedented opportunities to generate profit.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote has-text-align-center quote-stat is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"has-text-align-center\">With more and more consumers transitioning towards a virtual future, the exponentially growing scale of virtual engagement presents a myriad of opportunities for brands to be part of the conversation \u2013 even leading it.<\/p>\n<\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\">Why move your marketing efforts to the metaverse?<\/h2>\n\n\n\n<p>Consumer attention spans are getting shorter and shorter. People do a million things at once and are less and less inclined to pay attention to sales pitches or interested in brazenly being sold stuff. But if marketers can offer something of value \u2013 and everyone appreciates value \u2013 such as an interesting video, a freebie, valuable information, or a truly memorable experience, customers are much more likely to engage with your brand and eventually buy what you&#8217;re offering. It\u2019s becoming increasingly important to focus on establishing a line of communication \u2013 a relationship, even \u2013 with your audience. Once you&#8217;ve accomplished that, and you\u2019ve created a valuable customer experience, what your brand is really after \u2013 sales \u2013 will follow much more naturally. And what better way to go about this than to get on board with all things metaverse.<\/p>\n\n\n\n<p>The metaverse is not just a trendy new gimmick. Marketers need to <a href=\"https:\/\/mention.com\/en\/blog\/marketing-in-the-metaverse\/\">understand <\/a>that millennials and Gen Z\u2019ers \u2013 the new target market \u2013 are avid users of metaverse technology, which encompasses virtual reality, games like Roblox, and so on. The metaverse is active 24\/7 and fast becoming the new reality for many, and eventually for most. It is where more and more people engage, consume, buy, sell, and invest, and represents an incredible opportunity for marketers to explore new avenues in terms of brand innovation, and engage audiences in completely new ways. With more and more consumers transitioning towards a virtual future, the exponentially growing scale of virtual engagement presents a myriad of opportunities for brands to be part of the conversation \u2013 even leading it.&nbsp;<\/p>\n\n\n\n<p>Judging from giant brands like Facebook, Vans, Gucci, and Nike, who are already establishing themselves as authorities in the metaverse \u2013 using platforms like Roblox and Fortnite \u2013 it\u2019s easy to see why the sky is the limit when it comes to marketing opportunities. The metaverse is where newer and more modern versions of brand awareness and immersive types of advertising are created. Transitioning into the virtual world and enabling users to directly interact with the products they&#8217;re selling, will not only lead to brand exposure in the metaverse, but also boost conversion rates in the real world.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Important considerations for marketing in the metaverse<\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1000\" height=\"500\" src=\"https:\/\/blog.richardvanhooijdonk.com\/wp-content\/uploads\/2022\/08\/shutterstock_2155202123.jpg\" alt=\"\" class=\"wp-image-75608\" srcset=\"https:\/\/blog.richardvanhooijdonk.com\/wp-content\/uploads\/2022\/08\/shutterstock_2155202123.jpg 1000w, https:\/\/blog.richardvanhooijdonk.com\/wp-content\/uploads\/2022\/08\/shutterstock_2155202123-300x150.jpg 300w, https:\/\/blog.richardvanhooijdonk.com\/wp-content\/uploads\/2022\/08\/shutterstock_2155202123-768x384.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<p>While important factors of marketing in the metaverse \u2013 such as designing authentic brand experiences \u2013 are in many ways similar to those in the real world, engaging your audience in the metaverse requires a very specific approach. It\u2019s also important to set specific goals, be sure you really know your audience, and experiment before engaging in metaverse marketing efforts. One of the most famous and largest metaverses is Second Life, a virtual universe where people socialise, game, chat, shop, work, and exchange or buy virtual items like clothes, puppies, and motorcycles. One Second Life user even became a real-life millionaire selling virtual properties. Brad Oberwager, executive chairman of Linden Lab, creator of Second life, <a href=\"https:\/\/venturebeat.com\/games\/the-deanbeat-will-the-metaverse-bring-the-second-coming-of-second-life\/\">said<\/a>: \u201cWhen you think of creators in the creator economy, Second Life is still the leader and people are getting direct payments from each other. We are a $600 million a year economy. We are supporting creators in ways that allow them to make money.\u201d In the metaverse, lots of buying, selling, and marketing is already taking place.&nbsp;<\/p>\n\n\n\n<p>Here are some tips on how to get your metaverse marketing efforts off to a good start and enable your brand\u2019s strategy to have an impact in the metaverse.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Get discovered<\/h4>\n\n\n\n<p>To enable your brand to be discovered in the metaverse, your strategy will have to encompass targeted SEO. This includes using the word \u2018metaverse\u2019 in your brand name, products, and your content across social media.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Engage with existing communities<\/h4>\n\n\n\n<p>It\u2019s important to interact with members of a community first, before kicking off your marketing campaign. Community engagement can lead to valuable user-generated content, such as text, audio, images, and video, which can help you deploy a campaign that flows naturally.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Enable customers to try your products<\/h4>\n\n\n\n<p>To enable customers to try a version of your product before they buy it, it\u2019s important to provide virtual reality (VR) and augmented reality (AR) experiences. Think virtual furniture stores, car showrooms, or fitting rooms where customers can try on clothes.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Offer collectible items<\/h4>\n\n\n\n<p>People like collecting items, and metaverse users are no different. NFTs (non-fungible tokens), for instance, are digital assets that represent objects like in-game items, music, videos, and art. These can be bought and sold or collected and traded online. NFT metaverse marketing enables you to simultaneously promote your brand as well as your NFT assets. Your NFTs will become more valuable the more hype your brand gets. And the more valuable your NFTs are, the more awareness will be generated for your brand. Several major brands have already embraced the world of NFTs, including companies like Taco Bell, Marvel, Louis Vuitton, and even the English Football Premier League. Some ideas of NFT uses include limited edition products, collectible items, free extras, proof of memberships, or giveaways.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Incorporate experiences<\/h4>\n\n\n\n<p>Incorporating memorable immersive experiences that would not be possible in the real world, in which people can interact with your brand and with others, also enables you to expand your target audience. Offer ways in which people can experience a colour-changing or shape-shifting product or an innovative service together. You could also consider offering entertaining VR training sessions, tutorials, digital launch parties, and so on.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Virtual influencers<\/h4>\n\n\n\n<p>Using virtual influencers has a number of advantages compared to real-life ones, one of them being that virtual influencers are much less expensive and you have much more control over them. You could also make use of avatars that are modelled on real celebrities. Examples include the avatars of supermodel Kendall Jenner and Naomi Campbell, which were used for the promotion of fashion brand Burberry\u2019s summer collections.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote has-text-align-center quote-stat is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"has-text-align-center\">\u201cAs the digital world increasingly enriches our lives, it makes sense that we want to meet consumers where they are and be a part of their virtual world too.\u201d<\/p>\n<cite><em>Lindsey McInerney, Stella Artois<\/em><br><\/cite><\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\">Brands already active in the metaverse<\/h2>\n\n\n\n<p>Quite a few brands are already successfully deploying marketing campaigns in the metaverse, catering to customers already familiar with digital realms and reaching new audiences as well.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Stella Artois and Zed Run create virtual Kentucky Derby experience<\/h4>\n\n\n\n<p>Well-known beer brand Stella Artois <a href=\"https:\/\/influencermarketinghub.com\/metaverse-marketing\/\">partnered<\/a> with Zed Run to create a virtual Kentucky Derby experience. Stella Artois is big on sponsoring horse racing events, and they now created an online platform for horse racing where NFT horses can be bred, raced, and traded. While digital racing has been around for a while, it\u2019s fast transitioning beyond virtual replacements for real-life events. Stella Artois has created unique horse breeds, complete with themed skins, as well as a 3D racetrack. And while all of this may be virtual \u2013 the money is very real. Some digital racehorses are even valued at over $36,000. Zed Run reports having 100,000 global users and its community has grown by more than 1.000 percent. Big brands traditionally sponsoring real-life racing events are increasingly getting in on the virtual action. Lindsey McInerney, Stella Artois\u2019 Global Head of Tech &amp; Innovation, <a href=\"https:\/\/www.forbes.com\/sites\/cathyhackl\/2021\/06\/18\/stella-artois-gallops-into-the-metaverse-with-horse-racing-nfts\/?sh=7b535ed37b8b\">says<\/a> \u201cStella Artois has always been about creating and facilitating memorable, premium experiences and bringing people together. As the digital world increasingly enriches our lives, it makes sense that we want to meet consumers where they are and be a part of their virtual world too.\u201d<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Balenciaga combines interactivity with digital launch of clothing collection<\/h4>\n\n\n\n<p>The French clothing brand Balenciaga became the first high-end fashion retailer to digitally release its fall 2021 collection. In the brand\u2019s bespoke video game \u2018Afterworld: The Age of Tomorrow\u2019, created by Unreal Engine, players get five levels to <a href=\"https:\/\/www.harpersbazaar.com\/fashion\/fashion-week\/a34892239\/baleciaga-video-game-fall-2021-collection\/\">explore<\/a> \u2013 varying from Balenciaga\u2019s virtual store to a picturesque mountain at sundown and a dark forest. Without players specifically experiencing the game as a marketing effort, they are gently encouraged to kit out their avatars with Balenciaga gear. Think scooter lap aprons that become thermal wrap coats, parkas that transform into duffel bags, tailored jackets made from stretchy sports materials, and silver and gold boots resembling mediaeval armour. The majority of the collection was created with upcycled materials. Players were also enticed to continue to interact with the brand after completing the game. The game-based campaign was a huge success and has led the fashion brand to enter into a collaboration with Fortnite.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">NASCAR joins the race into the metaverse<\/h4>\n\n\n\n<p>NASCAR has entered into a first-of-its-kind collaboration with the online gaming platform Roblox to establish an all-encompassing digital presence and bring the popular motorsports brand into the metaverse using digital experiences to encourage deeper fan engagement. The collaboration entails activation in existing metaverse spaces as well as custom-built virtual platforms. The e-sports company is dropping a digital car in its breakout Jailbreak game, is selling apparel for players\u2019 avatars, and even enables players to design their own NASCAR uniforms as part of a fan contest that will be promoted on social media by the game\u2019s developers. <a href=\"https:\/\/www.thetradedesk.com\/us\/news\/the-metaverse-how-brands-are-boldly-embracing-marketings-new-frontier\">According<\/a> to Nick Rend, NASCAR\u2019s managing director of gaming and e-sports, the partnership with Roblox is critical to the brand\u2019s long-term success in reaching new consumers. \u201cGrowth comes from how users interact with, interpret, and incorporate your brand as part of their virtual escapades,\u201d Rend says.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote has-text-align-center quote-stat is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"has-text-align-center\">By <strong>2026<\/strong>, <strong>30 per cent<\/strong> of companies will offer services and products for the metaverse<\/p>\n<\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\">Some interesting metaverse-related facts &amp; figures<\/h2>\n\n\n\n<p>Here\u2019s a list of interesting metaverse statistics to <a href=\"https:\/\/www.luisazhou.com\/blog\/metaverse-statistics\/#:~:text=Metaverse%20gamers%20are%2059%25%20male,38%25%20are%20aged%2010%2D20&amp;text=Metaverse%20user%20demographics%20of%20gamers,under%20the%20age%20of%2020.\">show<\/a> its market size, industry trends, number of users, demographics information, and so on.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>By 2024, the metaverse is expected to have reached a value of $800 billion<\/li>\n\n\n\n<li>In 2019, more than 10.5 million people attended Marshmello\u2019s Fortnite concert<\/li>\n\n\n\n<li>By 2026, 25 per cent of people will spend an hour in the metaverse&nbsp;<\/li>\n\n\n\n<li>By 2024, there will be 1.7 billion mobile AR users worldwide<\/li>\n\n\n\n<li>By 2025, the mobile AR market will reach a value of more than $26 billion<\/li>\n\n\n\n<li>Every year, $54 billion is spent on virtual goods in the metaverse<\/li>\n\n\n\n<li>In 2020, some 46 million people attended the Travis Scott Fortnite event<\/li>\n\n\n\n<li>Some 74 per cent of American adults are (considering) joining the metaverse<\/li>\n\n\n\n<li>In 2021, people spent $501 million on metaverse real estate<\/li>\n\n\n\n<li>Some 16 per cent of US adults say that life in the metaverse would be more fun than real life<\/li>\n\n\n\n<li>By 2026, 30 per cent of companies will offer services and products for the metaverse<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">The future of the metaverse as a major marketing format<\/h2>\n\n\n\n<p>The future of marketing lies in the metaverse. It will be a wild ride as we adapt to new ways of reaching our audiences through augmented, virtual, and mixed reality. Some of the world\u2019s largest brands are already investing substantial amounts of time and resources in the metaverse, which is fast becoming a work in progress, rather than a stage in nascence. The possibilities for marketing in the metaverse are virtually endless and are only limited by our imagination. And while metaverse marketing opportunities are exciting, figuring out how to get started can also be daunting. What\u2019s most important, however, is considering how your business will adapt to this brave new world \u2013 and deciding whether you will be part of it, or be left behind.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investing in the metaverse \u2013 will this mean you\u2019ll simply be wasting money on a hype? Or will not jumping on the bandwagon lead to your brand becoming irrelevant? These are some pertinent questions many companies would like answered. In essence, the metaverse is a fancy term for describing the evolution of the internet into [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":75588,"parent":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"categories":[2877],"tags":[],"article-type":[],"trends":[5470],"class_list":["post-75585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marketing-en","trends-vr-ar-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Marketing in this brave new world called the metaverse - Richard van Hooijdonk Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.richardvanhooijdonk.com\/en\/marketing-in-this-brave-new-world-called-the-metaverse\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marketing in this brave new world called the metaverse - Richard van Hooijdonk Blog\" \/>\n<meta property=\"og:description\" content=\"Investing in the metaverse \u2013 will this mean you\u2019ll simply be wasting money on a hype? 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