Digital Marketing

Effective Brand Building In The Metaverse

There is a growing awareness that brand building in the metaverse can turn your marketing into a new playing field.

Or is it a multiverse?

With all the hype surrounding Metaverse – especially in the marketing industry – there is a fair amount of uncertainty and confusion.

And that’s understandable, because we’re all still working things out as we move forward.

But like it or not, you need to shut up.

According to Gartner, it won’t be long before a quarter of the world is spent an hour or more each day in Metaverse.

do what are you crying

Well, they do what they usually do in the real world, according to cryptoslite: their jobs, buy things, learn, collect things, play. Lots of play.

And potentially big money for companies. Bloomberg Intelligence analysts expect the range of market opportunities to be around 800 billion dollars Marker.

Now that I’ve got your attention, here’s how to prepare your brand for the long game that is the metaverse.

What does “metaverse” even mean?

I hear you, this is too much to comprehend. So, in the words of Maria von Trapp, “Let’s start from the beginning.”

Let’s divide it into “meta” and “verse”. Meta has several definitionsIt all fits perfectly here.

First, it can refer to something that indicates self or self-awareness, such as statements about data (think: metadata).

So, the Greek definition of meta is “beyond” or “after,” as in, the next thing, which means progress.

Verse, in this case, is short for “universe.”

So, in essence, the metaverse is a progressive world in which you exist as a very self-aware avatar that allows you to immerse yourself in a 3D world and experience it beyond what you can do in the current “real world.”

That’s my definition of it, anyway.

While it may sound a little like Second Life, well, there has been a second wind, it is not.

It’s not quite the “Ready Player One” sentiment. It is actually a collection of different 3D worlds hosted on different world building platforms.

We call this the multiverse.

How does this all work?

Thanks to the decentralized Web 3.0 – the next evolution from Web 2.0 – you can create content.

How is that different from web 2.0?

With Web 2.0, centralized entities have the ability to access the service.

On the other hand, Web 3.0 allows you to own, control and monetize this content through blockchain and cryptocurrency on the metaverse.

Brands get to choose where they want to be in the metaverse.

They can have different styles and shapes active simultaneously in several of these virtual lands, depending on who they want to reach, how they want to get to them, and what the product is.

But how do we prevent the metaverse from turning into lawless chaos with so much freedom?

With launch and growth Metaverse Decentralized Autonomous Organizations (DAO) We see the combination of blockchain and metaverse revolutionizing how cryptography, independent governance, and community engagement are implemented.

Why should I care about brand building in the Metaverse?

Aside from the potential to make big money, it is a great way to grow a connection with your customers.

There is tremendous brand power in owning the omnipresent experience with your customer.

As with all things post-2020, originality and personalization are key, so this is a great opportunity to grow both.

It opens up a new and more effective way to build closer brand-customer relationships.

Additionally, brands can get more creative, experimental, and personalized in this space than they would on traditional platforms. and immersive experiences and interactions unlike any other in the metaverse.

How to build a brand in the Metaverse

I will not lie; Brand building in the metaverse has its challenges. But, if you get it right, you will reap the rewards.

The currency of choice in the metaverse are non-fungible tokens (NFTs).

Blockchain technology has never been more attractive. NFTs are digital assets — think art, money, or even fine wine — that are stored on the blockchain and cannot be copied or exchanged.

As with real world originals, there is an original. There may be copies, but there is only one master copy.

in metaverse, NFTs are authenticated by metadata and timestamps Code stored on the blockchain.

In this way, an NFT is something that can be owned, traded, bought, sold, collected, shared, desired and liked – all within the virtual world you are in.

Through this avenue of NFTs, brands can increase revenue and build.

And it’s not just the typical tech-heavy brands that do this. Gucci, Louis Vuitton and Coca-Cola They’ve already set up shop in the metaverse and are advertising products with great success to their plugged-in consumer base.

So how do you do that?

Focus your mind on the game

You can take this literally if you’re thinking of building the brand on Roblox, as Gucci did.

However, let me point out that this is not something that only the budgets of big brands can afford.

Content creators for brands of all sizes have the opportunity to build awareness in the metaverse.

You just need to get around what VR will look like. I can’t even guide you here, because the options are limitless.

Start thinking about immersive experiences — the things you do in the real world that you’d like to replicate in the virtual world.

What does your target audience want to do in this space?

Watching a movie with friends, going to a concert, walking down a busy street? Not a problem. You can even make a company presentation in a virtual space, or carry out branded promotions and gifts.

However, before you get carried away, I offer this word of warning: Keep your feet on the ground and collect your thoughts.

All marketing – in the metaverse or terra firma – must align with your core brand goals.

Do your research. ? Who is your target audience, what problem do you solve for them?

Does your target audience spend any time in the metaverse?

Is your brand benefiting from radical marketing digitization? Don’t lose your head. Stay true to your brand goals.

Explore the brand’s gamification technology

The beauty of NFT is that it can be combined with most games.

This makes it a great way to reward loyal customers with a coveted one-time digital asset.

Never underestimate the power of desire and scarcity – even in the digital world! Brands can use this innate trait in all of us to increase awareness, align messages, incorporate brand values, and capture customer attention.

Create immersive experiences

I know I’m not the first to beat that drum. But it’s one of the ways you build a brand in the metaverse.

How do you do this? You think about the sales process in the real world and then create out-of-this-world experiences that support that journey in the virtual world.

Sales teams can deliver live presentations and demos to potential customers in a space of your own making.

Avatars can try on your products virtually and play the game in their custom-made clothes.

Not only is it cool, but it’s also a passive way to grow your brand with other players.

They can sell, trade and buy virtual versions of your products in their world using NFTs. They can view files NFT art in 3D galleries of their own design.

You can even use the metaverse for internal brand building tactics.

Training, staff onboarding, and meetings can be hosted in a 3D space for optimal immersion. Rewards and recognition can be offered through NFTs and cryptocurrencies.

Think rarity, think collectibles, think genuine affection.

Create highly immersive experiences and build from there.

Watch and wait

As with all emerging technology trends, it’s hard to know what direction this will take. At this point, you can still breathe a little and observe.

Check out what the competition is doing. Learn what works, adopt it, adapt it, and improve it.

Don’t wait too long, because you don’t want this train to pass you by.

The threat of getting lost in the metaverse crowd could be as challenging as being on page two of Google in the next few years!

Final thoughts

Metaverse offers a unique, new and highly immersive platform for brands to connect with their customers in a whole new way.

It is set to become the new force of digital marketing, from selling digital assets and goods to immersive team meetings.

As with all things marketing, get clarity on how to showcase your brand in this space without losing its original brand voice. Eye the future of immersive brand building without losing sight of your current marketing goals.

So, whether your attitude is planning, playing, or passive observation, Metaverse will not be ignored.

Fortunately, it’s open to brands big and small. So get started!

More resources:

  • Metaverse Primer for Marketers: How We Got Here and Where to Go Next
  • Metaverse Marketing Myths, Imperatives, and the #WAGMI Mantra
  • Metaverse Marketing [Podcast]

Featured image: thinkhubstudio / Shutterstock

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