Currently, we are witnessing a paradigm shift from Web 2.0 to the very exciting Web 3.0. With metaverse being the hot topic in the marketing world, we are now evolving into a more Phygital world – the true amalgamation of physical and digital world.
Fact of the matter is that – consumers are already getting accustomed to interacting in the virtual world. Yes indeed, creativity is the key to engagement in the metaverse, but the possibilities are endless in the virtual world. It would be interesting to see how brands fare in this immersive marketing dimension and what will it take for the brands to be metaverse ready.
In fact, globally, many luxury & entertainment brands have already made their foray in this dimension. Let’s see what avenues are open that could potentially unleash the brand synergies:
Gaming – One of the quickest and strategically available – the brands can have a virtual presence in the fully immersive experience zone and quickly grab those eyeballs. I’m sure many of such initiatives by brands with metaverse gaming is to build buzz and gain recognition in this space. Ex: Nike partnering with Roblox to create Nikeland and users can experience the brand in games like Tag or Dodgeball.
Events – This is becoming more so true for entertainment companies to promote their offering. Even so, individuals have taken to hosting events. Ex: An Indian couple held their reception in the virtual world – first of its kind
Marketing – A lot of brands have now begun to have their vision tuned in to make metaverse in their marketing strategy. Many consumer brands are now started to harness the power of metaverse to share their brand takeaways virtually to the audiences. Ex: Coca Cola auctioning off their valuable memorabilia in form of NFT.
Ecommerce – The shopping experience in this space will allow consumers to experience a virtual interaction with products and place order which then get delivered in the real world, thus making both the planes to co-exist. In fact, Walmart & Amazon recently announced their intention for metaverse shopping experience.
Metaverse will surely provide industry verticals a brilliant opportunity to showcase their best to the audiences and create innovative experiences for them. This parallel world will open a plethora of opportunity to create brand experiences. Coming future will only see newer metaverse spaces, harnessing the power of existing metaverse platforms and create their own metaverse platform for showcasing and engaging with audiences.
Yes, this is surely a hurricane that is building up and offer never see before opportunities for a brand to realize consumer interactions and develop the world as a marketplace too.
Everything and anything that brands were doing in the real world will be fully translated to the virtual world with rich immersive consumer experiences and forging a deeper connect the metaverse audiences.