MetaVerse has quickly gained traction over the past few months, with experts terming it as a new virtual world that will create an immersive virtual experience for users. According to Google, the number one search trend in 2021 worldwide was “MetaVerse” What is this MetaVerse that brands such as Facebook are rebranding to suit the narrative? MetaVerse, put in simple terms, refers to a virtual reality space in which users can interact with a computer generated environment and other users. A Sci-fi concept that was coined in the early 90’S, MetaVerse is a virtual 3D recreation of the internet. Influencer marketing hub generally break MetaVerse as a virtual realm that will always be active and exist in real time.
So why is MetaVerse such a big thing, and why should we pay attention to it as marketers? Metaverse will give marketers the opportunity to engage with their audience in real time experiences such as virtual stores, augmented reality and virtual conventions. More excitingly, traditional mediums of advertising such as billboards will be recreated to encompass a metaverse experience. Let us look at examples of how meta verse will transform marketing:
- Virtual Market Place
The possibility of having a virtual market place in MetaVerse got tongues wagging after video of second largest fashion brand H&M leaked of them opening a virtual store in the Ceek City MetaVerse. The short clip that was released on Youtube depicts a virtual store in which shoppers can take tours and buy clothes just like regular brick and mortar stores. However, H&M denied claims of actually opening a store in the metaverse, as the idea marvelled consumers.
Tom Hilfiger made headlines when they created a virtual pool party in the year 2019 to showcase its summer products. Gucci also grabbed headlines in March 2021 with an elusive digital pair of sneakers called “Gucci Virtual 25” that can be worn in Augmented reality. Virtual stores in MetaVerse portrays how marketing will be in the future for brands aiming to recreate their consumer experience. Metaverse will take brands to a whole new level of e-commerce marketing whereby consumers will be able to access the complete sales experience right from window shopping and fitting up to the cash point just like a real store.
Facebook CEO Mark Zuckerberg recently announced the first step towards metaverse is more physical rather than virtual in the sense that there needed to be a massive production of virtual reality headsets. Although the invention might take 5 to 10 years before its full effect, the advancement is now inevitably posed to be a reality.
- Outdoor Advertising & Experiential Marketing
Brands will be able to buy billboard ad spaces in MetaVerse for interacting with their consumers. Brands will erect digital billboards in the Metaverse that will be similar to a real world setting. The invention has already started in video games such as Tiki Taka Soccer and Fifa Mobile where brands are able to place digital billboards in these games. Similar to movies, marketers will also be able to place products in gaming sites in this virtual reality. Experiential marketing won’t be left out in this new world as influencers and celebrities will be able to interact with fans in the MetaVerse. Picture your favourite celebrity, let’s say Lebron James, through Metaverse, brands will be able to recreate brand ambassadors of their organisations such as in this case Lebron James for Nike, and interact with brand loyalists just as it would happen in real life. Brands will be able to create an authentic presence for their consumers therefore creating deeper and meaningful connections.
Parting Shot
Never in our wildest dreams did we ever think that virtual reality would become a reality in our lifetime as witnessed by MetaVerse. Not only would MetaVerse revolutionize advertising but many other aspects of life such as social gatherings and conventions. In the last two years the pandemic has taught the world that we can actually be there without actually being present, which opened up a reality to what digital experiences are possible. I will end with the words of Mark Zuckerberg, “The dream was to feel present with the people we care about and that’s what technology brings”.