Metaverse are here, but they are still in their infancy. For many of us, the metaverse is that virtual world we’ll one day be able to enter with VR headsets and see-through digital avatars, but it’s much more than that. It is a convergence of technologies and experiences that will transform our world as we know it.
The metaverse is the combination of augmented reality, virtual reality, and the Internet of Things (IoT), all accessible through a single interface. Think of it as Google Earth meets Second Life meets Tinder. The metaverse will change the way brands communicate with consumers, how marketers find new customers, how companies optimize their marketing spend, and how advertising campaigns are created and executed across all channels. Let’s look at what this new world has in store for advertisers.
Virtual reality advertising
Virtual reality advertising is a form of immersive marketing that places the viewer in a simulated environment, such as a 360-degree video, a virtual reality game or a virtual reality shopping experience. In the advertising world, brands and agencies are experimenting with immersive content strategies through VR. By placing the consumer inside the advertising experience, it allows the user to be fully immersed in the brand’s world. The viewer’s senses are activated and engaged, making the message much more memorable. VR advertising has already proven itself in many industries, especially those with technology-savvy customers. VR advertising campaigns have been extremely effective in the travel, real estate, sports and entertainment industries.
Augmented reality marketing
Augmented reality marketing involves leveraging augmented reality to place virtual images and objects in the real world. An example of augmented reality marketing would be an augmented reality advertisement that allows you to see how a new couch or other product would fit into your living room. With AR, marketers can bring their brand to life in the physical world. With AR, a customer can use their smartphone to see a virtual product come to life in their physical environment. If you want to get a better idea of what AR marketing looks like, check out AR apps like Pokemon Go, IKEA Place, or Lowe’s Vision, which has inspired overseas markets. ARKit is a software framework that was built by Apple to bring AR experiences to the mass market. ARKit is now available to developers, which means that marketers can now create AR experiences for their brands.
The Internet of Things
The Internet of Things (IoT) refers to the connection of devices to each other through Internet-based technologies. Brands are already leveraging IoT devices to collect customer data and create personalized experiences. One of the best examples of IoT marketing is Amazon’s Echo device. It’s an always-on device that can hear you speak and perform an action, such as turning on your lights, playing music or ordering products on Amazon. As devices continue to be connected, marketers will have the ability to use real-time data to create personalized brand experiences.
Marketing automation is the use of software and data to create personalized marketing campaigns across all channels. Marketing automation is used to create customer personas, analyze customer data, and then serve personalized content across all customer touchpoints. Marketing automation is a marketing tool. It’s not the same as marketing in the metaverse. So when marketers take their tools into the metaverse, what does that look like?
Let’s say we have a mattress company and we want to advertise our product in the metaverse. We need to make sure that our product information is accurate and that the images are correct. Next, we need to find a real estate agent who has a space in their virtual store that we can advertise on. Once the location is chosen, we create an ad that links directly to our product on our website.
It is important to understand the implications of metaverse and how they will change the way we create and distribute content. VR and AR are already being used in marketing campaigns, and we need to be prepared to create immersive experiences that will change the way brands connect with customers. With IoT, marketers have the ability to collect data and create personalized customer experiences. Finally, marketing automation will allow brands to create and serve personalized content across all customer touchpoints.
Just like when the internet first appeared, we are now at a point where people are asking what this technology means to them personally. Will it change the way they interact with their friends? The way they communicate with their colleagues. What kinds of new jobs will it create? And how will all these changes affect society as a whole? Are we ready?
Would you like to get more information about Metaverse’s opportunities? Contact Enkronos team.