You have probably already heard the term, the future of artificial reality, the Metaverse. This network of interconnected virtual 3D spaces with interactive avatars is not only groundbreaking in the AR world, but it also shifts the 'frontier' of digital marketing. If we are to believe Mark Zuckerberg, in 5 to 10 years we will all be able to hang out in the same virtual world with our own avatars, speaking and moving. Time to discover the possibilities of advertising in this new virtual world. In this blog we give six digital marketing possibilities of advertising in the Metaverse plus examples from practice.
We immediately start with a marketing technique that we already know and use in the real world, advertising. It will also be possible for companies to advertise in the Metaverse. Different ways of advertising will be possible through the use of virtual billboards, graphic banners and audio advertisements, among others. In addition, it is also possible to advertise on virtual clothing. This 'old school' marketing technique offers new possibilities in the virtual environment of the Metaverse.
An example of smart use of advertising in the virtual world is Adidas' in-game marketing. The FIFA Playstation video game has held Turkey an alternative to the canceled European Football Championship in 2020: The Uncancelled Cup. Matches between twelve football players and twelve celebrities were streamed live via Adidas' local Facebook Live, IGTV and YouTube Live profiles. During these broadcasts, the avatars of the football players in the video game wore virtual clothing from Adidas, with the logo clearly visible. Fun fact: the virtual matches had a live audience twice as large as those of the Turkish top football league.
2. Virtual Locations
We are going one step further in the marketing of the future, companies can claim real estate in the Metaverse and turn it into their own virtual locations. Companies can build inspiring, virtual 3D venues, worlds and spaces from the ground up. These locations in the Metaverse can be used for brand events such as online fashion shows and concerts. It is not only a creative opportunity to promote your brand, but also an opportunity to be part of an online experience as a brand.
An example of a company that has taken advantage of this virtual capability is Hyundai with their Hyundai Mobility Adventure space on the online entertainment platform Roblox. Within this virtual experience, visitors can meet, communicate, play games, role-play and experience Hyundai Motor's mobility offerings. Hyundai's goal is to familiarize young fans with their new vehicles and Hyundai Motor's future mobility solutions.
3. Virtual Influencers
Using influencers is also an old school marketing technique that marketers can start applying in the Metaverse. Virtual influencers are a lot cheaper for companies and also more controllable than real life influencers.
An example of a popular virtual influencer is Daisy. Daisy was created by the company YOOX† Daisy focuses on fashion and popular culture on Instagram. The virtual influencer was featured in multiple campaigns for well-known clothing brands such as Calvin Klein and Tommy Hilfiger.
4. Aver Games
Advergames is a marketing strategy that uses games to advertise a brand. This strategy is not to be confused with in-game advertising. Advergames do not advertise in a game from an external party, but companies create their own new game to promote their products or services.
The luxury fashion brand Balenciaga has the advergame Afterworld: The Age Of Tomorrow developed. Within this game, users can attend online fashion shows to admire the latest collection of the brand. In addition, users have the option to try on the new collection within a virtual Balenciaga store.
5. Metaverse Commerce
Metaverse commerce is also known as direct-to-avatar economics. In this marketing technique, digital goods from brands are sold in the Metaverse. Users in the Metaverse can purchase clothing and products from famous brands for their avatar. Another good example of Metaverse commerce is the non-fungible token or the NFT market.
An interesting NFT artist to keep an eye on is Beeple's† This virtual artist has a high following with 2.5 million followers on the social media platform Instagram. Beeple makes controversial works of art, often with a political twist. With his project 'Everydays' you are assured to see a new work of art every day.
6. Virtual Events
This marketing technique is mainly used by the entertainment industry, but as a marketer it is certainly also worth delving into. Virtual events attract a significant number of visitors, with almost 2.5 billion people already participating in this virtual economy. Companies are seeing more and more value in virtual events to improve their customer experience.
An example of a much-attended virtual event is Travis Scott's Fortnite concert with 27.7 million attendees. Five shows were held in the game with a huge avatar of Travis Scott singing some of his songs.
Although we are only at the very beginning of the Metaverse, there are already many opportunities to start advertising in the virtual world. In addition to the six virtual marketing options mentioned in this article, we are sure that this trend will continue to develop. Keep an eye on our blog for the latest trends and become the marketer of the future.
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