The digital worlds collectively called the metaverse are providing businesses with entirely new forms of marketing opportunities. Here we look at some of the Metaverse marketing strategies businesses can use to promote their products and services in virtual spaces.
Interactive Live Events
This strategy may favor larger companies as the most lucrative opportunities tend to be massive interactive live events or experiences (MILEs). They can be in the form of live or virtual music performances or fashion shows, or indeed any virtual event that brings a massive throng of people together in one virtual space.
MILEs usually include interactive elements that provide an immersive medium for people or businesses to connect and increase engagement. Of course, the catch is that to be a ‘massive’ interactive live event, then you need a major draw such as a celebrity or famous brand.
Virtual 3D digital showrooms allow businesses to showcase their products and services in a virtual environment to engage with customers wherever they are. Access to the showrooms can be shared via social media with a link or embedded on a website.
The idea is to give customers the experience of visiting a real-life store from anywhere and at any time. One of the best examples of this metaverse marketing strategy is Nike’s Nikeland, which is a virtual world created in the Roblox metaverse. The world includes lots of interactive activities such as mini-games and branded areas to explore, as well as a digital showroom where users can dress their avatars in Nike-branded clothing.
You don’t have to create your own metaverse or indeed a showroom in someone else’s metaverse to take advantage of their marketing potential. In-game advertising works pretty much the same as real world billboards, but within a video game’s metaverse.
A similar thing has existed for many years in certain video games, particularly in sports games where the virtual pitches or combat arenas feature real brand advertising. In these examples though, the brand logos featured were static and programmed into the game during its design. With metaverse marketing, the possibilities are endless. For example, businesses are no longer restricted to just showing their logo at the side of a playing field, but can actually set-up a digital booth at a virtual event where users can interact with the business.
Virtual Goods & Digital Collectibles
One of the observable trends in the metaverse is the showcasing and trading of digital forms of virtual goods and art such as blockchain-backed NFTs. This creates a whole new dimension of marketing and sales opportunities for businesses and brands to develop their digital assets.
At recent MILEs, brands offered a variety of in-game purchases that users could buy to adorn their avatars, and this is a strategy that many major brands are looking into. We already mentioned Nike and their virtual clothing, but Coca-Cola is also leading the way by creating digital goods as well as trading cards and other Coca-Cola-branded items in the metaverse.
If you would like to know more about metaverse marketing strategies and how they could benefit your business, please contact our team at +1 800 974 7219 ext. 202.
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