The most popular metaverses today, such as Fortnite and Roblox, allow companies to market their products in ways that would be impossible in the real world. A metaverse platform might enable marketers to be more creative and interact with a larger audience than they could if they were just constrained to the actual world.
Why is marketing in the metaverse so valuable?
Because metaverse marketing and promotion are still so young, the costs of running a campaign are still quite cheap. This makes it a valuable alternative for businesses looking for a new approach to reach millennial and Gen Z consumers.
When you create an online experience, your audience might grow enormously. There are over 3.4 billion gamers online now, with 27% of them being between the ages of 21 and 30. Furthermore, as NFTs become more popular, demand for digital collectibles will grow.
Brands are predicted to spend up to $15 million per year on influencer marketing by 2022, with part of that money going to virtual influencers. Real persons are used by other brands as avatars.
Digital campfires are popular among the youth
While social media challenges continue to draw attention, their influence has faded in the era of TikTok trends. Conversations on smaller, more personal platforms like Reddit forums, and Discord are more likely to affect today’s youngsters.
In early 2020, Harvard Business Review branded these platforms as “digital campfires,” and they might very well be the future of marketing for modern consumers. Younger audiences are increasingly migrating away from larger, more established social networks like Instagram and Facebook and toward platforms that provide them with more privacy and less judgemental environments.
In addition to decreased attention spans and the known dodginess of ad targeting, this rising disdain for traditional social media platforms has made it more expensive to reach one’s target demographic, making it more vital for marketers to find a new way to engage with customers. The shared experience of immersive virtual worlds (metaverses) allows marketers to create close customer relationships in the same way as campfires do.
It’s possible that sensory advertising is the way to go.
With 84 percent of smartphone users ignoring adverts while on the go, the growing disdain for social media has been followed by growing indifference to advertising (particularly among younger people).
While most advertising today just appeals to the sight and ears, it’s feasible that marketers may need to appeal to all five senses in the future to stand out. The physical stimulation of VR technology may be the means to invade customers’ thoughts.
By mimicking a social presence to an otherwise impersonal technical interaction, haptic feedback would boost customer engagement. A multiverse solution might be exactly what marketing teams are searching for in this case.