What is marketing going to be like in the metaverse? It’s a question all marketers can’t help but wonder, and few can answer. The metaverse is akin to the dawn of the internet in the 1990s or social media in the 2000s: we’re not sure where this ride is going, but we all know it’s leaving the station whether we are on board or not.
So, if you’re like me, and you don’t want to miss out then let’s look together at marketing in the metaverse. Even though we are in the infancy of this alternate world, we can already see real opportunities in the virtual space.
In the metaverse, the ability of brands to establish and maintain genuine connections is going to be the underlayment for success. Funny as it may sound, authenticity is as important to your followers and buyers in the virtual world as it is in the physical one. Therefore, it will be key for brands to create and host organic spaces where their very own communities can exist.
Within these communities, the virtual sky is the limit. For example, brands can livestream podcasts from their own dedicated spaces, host virtual events where anyone in the world can attend, or collaborate with creators and influencers on one-of-a-kind, community-only events.
For marketers eager to dip their toes in the metaverse, a good first step would be to focus on creating a loyal customer base that will follow the brand into the metaverse. Then, when marketers are ready to establish a brand community, their virtual space will feel organic and more like an extension of what the brand already communicates and creates for its base.
To stake claim in the metaverse, brands should set up shop in a world, community, or platform that matches their audience. For example, some brands are building their worlds within Roblox and similar gaming environments while others are creating spaces on platforms like Meta’s Horizon Worlds or Microsoft-owned AltspaceVR. Think about where your audience spends their time, and you will have a good idea of where to begin.
Offering Something Virtual of Real Value
It might seem extraordinary, but in the metaverse the value of virtual goods is equivalent to that of their real-world counterparts. Marketers who want to thrive in this new world need to consider what they have to offer their communities and potential followers.
For some businesses looking to market in the metaverse, that could mean branded accessories or clothing for customer avatars. Cryptocurrency is an important component in the virtual world, and some brands are selling coins and tokens in exchange for custom experiences in the brand’s community or world. Again, it all comes back to this sense of community and belonging and catering to the fear of missing out.
For a “real-life” example, have a look at how JPMorgan Chase is taking its legendary summer reading list to the metaverse and creating an exclusive experience for its customers.
Partnering With Affiliates or Like-Minded Worlds
Like what we’re seeing with affiliate marketing nowadays, marketing in the metaverse will leverage partnerships with brands, creators, organizations, and influencers who share the same values, interests, or audiences. This could mean paid or organic partnerships that expand the reach of messaging to new audiences. After all, the metaverse increases the opportunities for people to gain exposure to brands they might not otherwise discover, as it’s unlimited by physical constraints.
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While the infrastructure for the metaverse is still being developed, marketers can lay the groundwork for a successful entry into the virtual world. It starts with a loyal, passionate customer base that will be eager to join you in your meta community where you bring them real value and memorable experiences they won’t find here in the real world.