What is a metaverse strategy? Well, it’s impossible to know metaverse marketing strategies unless you have a full grasp of what metaverse is in the first place.
If you’re trying to figure out the next big thing you can do for your company, then going virtual may be your best move yet. Metaverse is where traditional and eCommerce retail stores fuse as the next face of business.
Meta is translated as more comprehensive while verse is the shortcut to the universe. But this is only part of the meaning of the term when people talk about metaverse. People are referring to a virtual world where digital realities on the full scale are involved. These worlds have their own economies and currencies as well.
The metaverse is part of the internet evolution. Here, the physical, virtual, and augmented realities converge in a shared space.
Think of it as a 4D version of the current web. This is an internet where you are inside of instead of being one you are just looking at.
For this platform to work, it cannot be monopolized by a single company. It needs to be a decentralized system that many companies are supporting.
What Is A Metaverse Strategy?
The metaverse world is a place where you make financial decisions that have an impact on the real world. Buying and selling digital products that serve as cryptocurrencies is one example. This is a crucial aspect of the metaverse. Here you also can interact with people virtually in ways that are not possible in the real world.
This has been made possible through the combination of virtual reality (VR) and augmented reality (AR). Augmented reality merely enhances your physical surroundings. This can affect sound, vision, or other physical elements. Virtual reality on the other hand is 100% digital. You can transform your world into anything you want it to be.
What Does Metaverse Mean For Marketing?
Despite being in its infancy stage, the metaverse has amazing potential. You can expect unlimited spaces to pop up in these virtual worlds where people can come together. These multi-dimensional interactions can easily blur the lines between the visible world and the metaverse. Here, we take a look at the tech’s potential applications.
Here, world gaming becomes a multi-dimensional experience. Precisely the reason why major game publishers are ramping up their VR efforts. This will easily help them sync with the metaverse.
The metaverse has so much potential whose applications can be beneficial to medicine. Here, doctors can easily interact with patients and see what they see. This is very possible without making any physical contact.
Tourism could also take a big turn as people can now visit locations without having to spend so much on plane tickets or pocket money. All you need is to pay in token and you could access any tourist destination in an instant.
And of course, commerce will take a whole new shape. Now anyone can view and interact with the products they wish to buy without having to leave the comfort of their own homes.
How Do You Promote A Metaverse?
With infinite possibilities in the metaverse, business owners should start early so they could be on top of their game. Here are some tips on how you can do just that.
Boost Your Online Presence
This is pretty basic. If you don’t have an online presence right now you might find it difficult to transition into the metaverse. There is no better time to start than now.
When you enter the metaverse, understand that you become part of an online evolution. An online evolution means that there are rules that are already in existence. Thus, it is a good thing if you have already learned and mastered these existing platforms in your own business.
Before toggling between the AR and VR businesses make sure your company website is up and running, and that your social media presence is at its peak. And while at it, make sure you use the best social media software to help with marketing, find out more in this Postcron review. Your site needs to have a steady traffic from your target audience. It’s also a big help if you’re already comfortable with Facebook, Instagram, TikTok, Amazon, eBay, and Shopify.
Get Comfortable With 2D Models
If you don’t already know, the Oculus Quest VR headset is practically your Android phone that is strapped to your head. So creating VR apps for this headset can be likened to making apps for Android.
Five to 10 years from now, people will find a whole new world of commerce within the metaverse. But while fairly new, the metaverse is still reliant on two-dimensional models.
What does this mean? Present software development tactics will still be used. All of these models are important for they will be the stepping stones needed before you dive deep into the metaverse. You need to stay focused on your current skills so that upscaling your online business becomes a breeze.
Determine Your Target Audience And Stick To Them
A good marketer knows they should not be trying to get everyone’s attention—metaverse or otherwise. Once you learn the importance of this you’re good to go.
Determine who your target audience is so you can spend more time understanding their needs and desires. Your ads and promotions should be aimed at them. What do they want? How can you help them get it?
Give Your Customers A Holistic Experience
When people enter your metaverse, they expect to experience things, not just visualize them. Customers will easily get bored because there’s nothing to do but become spectators.
Instead, turn your business into an amazing experience in the metaverse. If this is a game, then allow them to have simulation control with real-life actions. For those who are promoting a clothing line, your items must be in 3D or 4D.
Your clients should feel happy and excited about the products or services you are selling. Giving them a holistic experience helps you to do that. And when they come back, you can expect more time and money will be spent.
Learn To Feel At Ease With Cryptocurrency
In 2020 investors and cryptocurrencies garnered profits that would usually take a lifetime to acquire. If you plan to get into this virtual world then you’ll need to learn and be at ease with the idea of cryptocurrency.
Blockchain technology is the technology running virtual coins. This involves utilizing decentralized computers for logging in transactions. The term “decentralized” is crucial since it gives users a form of security. This type of security is a must for metaverse transactions.
Cryptocurrency is a colossal part of the metaverse. If you wish your business to be successful in this world, it is up to you to learn and adapt to these things.
What Are The 4 Types of Marketing Strategies?
Earlier we mentioned the importance of mastering the current marketing strategies you have before diving into metaverse marketing. Leveraging current marketing statistics would also be of great help. So here are some examples so you can see the differences and similarities between the two.
Invest In Paid Advertising
Paid advertising is something you encounter daily. You see them while going through your newsfeed or using your social media platform. There are sponsored tags everywhere. And the company behind it is offering products or services specifically targeted at you.
Therefore, you can also get yourselves front and center on social media. They can be 25-year-old women living on a certain street in Melbourne, love latte, and own a cat. It is that specific, that is targeted. So it only makes sense for you to put your business on these platforms for better visibility and exposure.
Take Advantage Of All The Social Media Apps
The great thing about marketing with social media apps is that they can level the playing field for small and medium businesses. Gone are the days when big companies over shadowed small players.
Facebook, Instagram, and YouTube are also known as the big three. But in the past few years, a massive platform has stuck out—TikTok.
People used to have a big misconception of this social media platform. That it’s only for kids and teens dancing and doing funny videos. Now the smartest business people are using TikTok to get in front of their target audiences. And this gives them some massive exposure.
So don’t be scared to take advantage of the latest platforms. It is when the algorithm is hot, and the perfect time to get the biggest returns. As long as they’re using a social media management app designed to help marketers, such as the one in this Social Horse Power review, they will be able to share their valuable content to their audience.
Email marketing is dead—another big misconception. Some people think that people’s attention is fixed on social media and that nobody’s using email anymore. For those who do not know, email marketing has truly evolved.
The number of global active email users in 2019 reached 3.9 billion. It is expected to rise to 4.3 billion users come 2023. Given that this is half of the world’s population, it is not something any business owner can ignore.
Utilize email marketing to remarket your existing customers. Provide them with new offers and promotions. These emails need not be complicated. Just write to them in a casual tone. Talk to your customers the way you like to be spoken to if put in their shoes. Build a relationship with them to earn their trust. In that way it will be easier for you to make them an offer they cannot refuse.
Use Search Engine Optimization
Those who are serious about SEO only need two weeks to get their business on top of the feed. This is achieved through regular blogs and social media presence. They make sure to generate as much traffic to these pages via paid ads as well.
It is also possible for you as long as you make sure your website is of high quality. If you have the budget for it, get a reputable web development agency.
Enlisting the help of an agency helps you have nice, clean, and simple code. There is no mess and it is keyword rich. So now you can share your website across all social media channels. Do this as soon as you can.
The Google algorithm will notice this very quickly and you will begin getting traffic on your pages. When you reach the top search it is pretty easy to maintain this status unless someone else is working harder at their SEO.
Metaverse Marketing Examples
Still not convinced about the potential of the metaverse? Here are three solid examples of businesses that successfully got into the metaverse marketing realm.
We are talking about Wendy’s metaverse experience in the Horizon Worlds. On April 2 Wendy’s launched its first virtual space. This was in collaboration with the creators of Horizon Worlds.
Those who had Meta Quest 2 devices were able to access and experience Wendy’s first virtual restaurant. They happily ventured into this new world exclusively designed for them.
Customers were able to walk behind the counter, and mingle with friends. They had a blast embarking on some mouth-watering adventures. They even came up with a Buck Biscuit Dome.
Here, fans can shoot hoops using a virtual baconator. They can get on the court and cut off the net once they’re lucky enough to get that winning shot!
Epic Games developed Roblox, which was almost $50 billion worth during the second quarter of 2021. Back in the fall of 2019, Developer Marketplace was launched. This allowed developers to monetize their games, plug-ins, assets, 3D models, vehicles, terrains, and other items.
These developers are the producers of these games. They could play significant roles in creating the metaverse’s earliest stages. Several other companies are now leading the charge to create these machine-learning algorithms.
These can generate virtual environments and assets automatically. You can augment it to current capabilities for generating assets.
Mark Zuckerberg said himself that Facebook is likely to transition into a metaverse company from a social media company. He expects this to happen within the next 5-10 years. The social media giant has already developed several products to bring the audience closer to the metaverse.
For example, Facebook Horizon allows people to explore virtual worlds where they can connect with everyone across the globe. You can also participate in fun challenges, or create your virtual worlds.
Facebook Workrooms, on the other hand, let people work together in the same virtual room, no matter where they are physically. Facebook is continually working on new initiatives to support the metaverse development. The company spends around $5 billion annually on such initiatives.
Metaverse Marketing Agency
Now you might be wondering, is there such a thing as a marketing agency for metaverse? There are. Take Meta Builders for instance.
The agency is an updated virtual brand-building service specifically aimed at businesses in the metaverse. They have everything you need to keep your business’ content afloat in this constantly changing digital world.
These people have a team of professionals, including highly-skilled artists, virtual builders, promoters, as well as NFT specialists. They exist for your meta needs and everything else you need for your brand.
Its goal is to help personal brands and businesses create virtual spaces in the metaverse. It can provide art creation, building on digital real estate, and what you need to make your NFT projects a success.
Metaverse and Marketers: They Do Mix
The metaverse serves as a second life for users. Thus, it is a great opportunity for marketers to reach out to their target audience in a new dimension. Expanding the digital footprint of potential customers as well as providing a different way to look at their actions and behaviors.
Digital marketers cannot afford to sit on the sidelines as spectators. Do not wait until you run out of time before utilizing metaverse marketing strategies. Use the next few years to prepare your business for opportunities to come.
Now that you know about metaverse, you’ll need to brush up on your digital marketing skills, read our guide “Digital Marketing Statistics: 2021 Trends, Market Share and Data,” to get you up to speed on current marketing developments.