Visual marketing online has been around since the Internet first started with images, then animations, then videos, and now live videos and streaming. Social media has only helped this grow and become more achievable for businesses of all sizes, but now the larger brands or more forward-thinking SMEs are looking beyond what is the norm and expected these days, and looking for something on the rise. Enter the metaverse, and metaverse marketing.
The metaverse involves a shared virtual space where users are represented by avatars, like virtual characters. This virtual world grows and evolves based on the user’s interactions and actions. This is a pretty standard approach in metaverse online games such as Fortnite, Sandbox, and Minecraft, where the online game – and online world – has no ‘end’ it’s just a scenario that keeps going, much like real life. Metaverse marketing – where brands can carry out marketing within these virtual worlds, in a similar way that they might do in the real world, with virtual billboards, virtual events, and virtual products to sell.
Who does metaverse marketing?
There might be a preconception that metaverse users are all teenage boys and so aren’t worth targeting with their relatively smaller spending budgets, however the average age of a metaverse gamer is 27, and the genders are much more evenly spread with 41% of players now female. This means that a wide range of brands can do metaverse marketing.
Gucci has actually sold virtual items to wear in the metaverse. In 2021 they opened the ‘Gucci Garden’ on Roblox, where players could interact with each other at a Gucci event and buy pieces to wear. A number of concerts have been carried out on the metaverse where you need to buy tickets to attend, for example, Snoop Dogg hosted an exclusive party on The Sandbox’s non-fungible token (NFT) platform, reconstructing his real-life mansion. Sports brands advertise on virtual billboards on sporting games in the metaverse.
At the moment it does seem to be bigger names and brands that are able to carry out metaverse marketing, but this might be about to change.
Facebook metaverse has been under development for some time and is due to be released in the coming years, with 5 years being stated as the maximum. The idea is that people will be able to develop their existing Facebook business presence into the metaverse in a user-friendly way, in the same was as the current offering is designed to make social media marketing easier for technology novices.
Options like virtual shops, virtual events and press conferences, and even virtual items to sell, are all on the table.
Preparing for marketing in the metaverse
If you’re not quite ready for marketing in the metaverse yet, it’s still worth thinking ahead and futureproofing your business for when you might want to. For those businesses that have no presence online at all, this might be the time to rethink that, and look at building both a website and a social media presence.
Making sure you have up-to-date images – photos and videos – will help with this, as will being part of a business community where you can share ideas for the future. If you’re looking to join a community of creatively minded businesses with an office rental at a shared office facility designed for forward-thinking businesses, take the virtual tour of Tannery Studios.