The Metaverse as a marketing tool: new opportunities for companies

The Metaverse is redefining the rules of marketing.
For companies to enter, it means finding fertile ground
to sow new communication and sales strategies.

The data speak for themselves, Bloomberg Intelligence estimates that the Metaverse market will reach a value of $80 billion by next year, and by 2030 it is estimated that the advertising industry in the Metaverse could reach $200 billion, one-third of the total of current global advertising revenues.

With a focus on the customer experience and one-to-one connections, the Metaverse to date represents a new, much more direct and effective channel of communication that inevitably evolves the way companies address their audiences.

Entering the Metaverse for a company means, therefore, building a virtual version of its brand that carries with it all the communication dynamics of reality, while shaping them to those of the Metaverse.

Marketing has been the protagonist of a significant evolution with the emergence of social networks that have changed the game in terms of the communication strategies adopted by brands. That of 2d platforms, is to date the main portal that feeds the brand marketing sector, but with limitations that are becoming increasingly defined: the communication of messages for the end user is totally passive. In this sense, the Metaverse represents real change; it is the ideal space for brands to achieve brand communication in which the consumer is placed at the center. In fact, the brands that are certainly having a significant response are those that have been able to use the Metaverse as a new communication channel to actively engage their audience.

In the Metaverse, marketing is about experiences: consumers find themselves within the content and interact with it through activities that involve them personally, making them feel part of the process and important to the company, reinforcing the connection with the brand.

The transmission of content between brand and target audience takes place in a totally immersive, engaging, and three-dimensional mode. In addition to strategies, narrative techniques are also changing: brands can communicate not only through advertising messages, but also through environments, digital twin details, and the experiences they offer to their audiences.

WHAT ARE THE BENEFITS?

For a brand, marketing in the Metaverse means implementing new strategies that aim to offer innovative and unique experiences that represent a new direct and effective touchpoint with their audience. The advantage they gain over what the current market offers is the addition of the social and virtual dimension to sales mechanisms. This leads to a number of positive feedbacks for companies:

1. Increasing the brand - consumer connection

The Metaverse is the ideal space in which to convey one's brand values by making the audience an active part of the story itself. Colors, spaces, immersive activities help create a novel version of current brand storytelling. The active participation of consumers and their direct communication with the brand help reinforce the sense of community and family feeling with the company's products or services.

2. Enhancing brand image

For a company to focus on the emotional and experiential factor means creating a connection with consumers like never before, so the Metaverse helps create a perception of reliability and authority around the brand, thus enhancing the brand image. In addition, by investing in an area such as the Metaverse, a company shows that it is keeping up with market changes and innovation, also nurturing its brand reputation.

3. Real - time feedback and target audience analysis

Last but not least, marketing strategies in the Metaverse are supported by gaining countless information regarding the target audience. A set of relevant data that support marketing in analyzing the consumer's journey, to be able to better understand their needs and consequently anticipate demand by implementing increasingly effective strategies.

CONCRETE EXAMPLES WITH META PRESENCE®

Engagement, community and feedback: marketing in the Metaverse is this and much more. With Meta Presence®, our business platform, we have seen in concrete terms how the Metaverse can be a valuable tool for companies to enhance their relationship with customers by engaging them in immersive and interactive experiences that are completely new to them.

Save the Children's example is a concrete summary of what has been described so far. It was a comprehensive project, carried out with Meta Presence® and designed to maximally engage its audience with a significant marketing operation. Not just a virtual event, but a 360-degree engagement that included a pre- and post-event in the Metaverse, similar to a marketing campaign in reality. Quizzes, comment board and other systems integrated with Meta Presence® enabled Save the Children to entertain the audience and make them active participants before, during and after the event; making them feel important, part of a community.

The powerful Analytics module of Meta Presence® fits perfectly with the marketing and sales strategies of a company that chooses to enter the Metaverse. The platform's dashboards enable brands to gain valuable insights into the behavior of their audience, feedback that even in an in-person meeting would not be possible.

Get inspired by those who have already chosen the Metaverse, learn about projects implemented with Meta Presence®. Don't miss the opportunity to evolve your business, contact our team of MetaverseEnablers!