The marketing and advertising in the Metaverse This brings us face to face with a host of questions. New and interesting possibilities when it comes to generating campaigns and strategies, as well as promoting our services and products.
Surely we have all heard of the Metaverse, Metaverse or even Metauniverses. These refer to the virtual spaces that would make up the Internet 3.0. A new evolution of social connections.
So that we understand the huge dimension of this virtual universe; in the Metaverse, a company could buy a specific space to build a virtual office where its workers could meet, chat or even have lunch together. And why not, at the end of the day, attend a dance or Yoga class, given thousands of kilometres away.
Now, the truth is that this is not strange to anyone. The COVID-19 pandemic has hit the world economy in general and many sectors in particular hard (although we will recover, by the way). And as a consequence of containment, quarantines and preventive measures; We are already incorporating new ways of communicating and connecting with others into our routines. in various aspects such as music, in the workplace, or when it comes to socialising. Also in the consumption of apps; in the field of sports or in terms of healthcare.
We are talking about tools such as ZOOM, tele-health services such as ADESLAS, music concerts via streaming, among others.
And then, Why all the fuss about the Metaverse?? What's new? Well, to summarise (but a great summary), metaverses or multiverses would offer immersive and multisensory spaces. Experientiality through Augmented Reality AR and Virtual Reality VR. Also mixed.
Cling! Did someone say business? Of course, the giants have already been working on this for a long time through experiments, trials and multi-million dollar investments. A clear example would be the Facebook's business turnaround, now Metawhich is positioned as one of the pioneers in the design and development of Metaverses.
As predicted, people will spend more and more time on the Internet. Metaverses. Therefore, the companiesthey will want to have increasing presence in them. And here begins a cerebral bombardment of infinite possibilities of advertising formats and creatives, of doubts about the advertising systems that will be used to compete.
Will business and marketing strategies change? It is clear, but in what way and how much will it cost us? I don't know if it happens to you, but it is so exciting and complex that it is both exciting and scary at the same time.
BuloFacebook has not ceased to exist nor has it changed its name as such. Let's say that Facebook is still what it was, but it would be part of a larger structure, which would be called Meta; coexisting with others such as Instagram or Messenger.
First steps to mastering the Metaverse
Piano, piano, piano! The Metaverse is still in its infancy. And not even the experts can say for sure when these virtual spaces will become part of our daily lives.
However, while overcoming obstacles, we can go ahead and explore and study how all this fits into our business model or that of our clients. The viability and possibilities of a specific brand or business in this new dimension or dimensions.
Becoming a kind of "early adopter and getting a head start, before it becomes too mainstream, is good, don't you think? So, here are the first two recommendations on how to approach the marketing and advertising within the Metaverse. We hope they will serve as a good starting point:
- First of all, do your homework. And keep up to date with what the experts are talking and discussing. Marketing and advertising in the Metaverse involves quite a lot of technical knowledge.We must not forget that it is still at a very early stage, constantly negotiating hurdles, using trial and error in its testing. We should not forget that it is still at a very early stage, constantly jumping over hurdles, using trial and error in its tests.
Use blogs like ours, or publications by real experts. We recommend, among many others, Cathy Hawlk, a genius when it comes to AR and VR.
- SWOT analysis. Weaknesses, Threats, Strengths and Opportunities. I'm sure it rings a bell. Then do it. I must confess that this idea is not ours, but that of Brandon Farisbut we are quite convinced. To analyse the impact of a virtual universe on our business model... hit the SWOT!
Augmented Reality AR and Virtual Reality VR
In the "Proto-Metaverse", which would be the first Metaverse, we must keep these two things in mind: Virtual Reality (VR), the totally invented, the "non-existent" and Augmented Reality (AR), a combo of existing and created reality.
The second of these, RA, has been the most explored to date. In fact, in the Business Manager's Ads Manager, we have for some time now found the instant experiences, which consist of a full screen ad that some ecommerce, for example sunglasses, have used to add AR effects. In this way, users can try on the glasses without having to physically see them or be in a shop.
In the short term, we will not experience major changes. But how might this type of advertising evolve in a few years' time?
Perhaps it is still too early to answer this question, but what is clear is that they will be increasingly linked to interactive experiences that are as personalised as possible thanks to AR and VR.
If we now have AR effects to try on glasses, possibly the virtual reality of the Metaverse will allow us to dress our avatar and be able to feel the textures of the clothes as well as the reaction of the environment when wearing that new outfit. And there is even talk of being able to perceive smells.
The potential impact of Metaverse advertising on Ecommerce return rates
Another of our hypotheses revolves around the impact this will have on ecommerce. Beyond the obvious, and it is still too early to draw any conclusions, we believe that advertising experiences in the Metaverse will eventually reduce product return rates considerably. that are purchased online. We are talking about 30% in the USA and a similar percentage in Spain.
Thanks to the predictable, ultra-personalised experiences that virtual reality ads would offer us, we would buy with greater certainty and we would have the certainty that what we are going to receive bears a very close relationship to what we actually wanted to buy. We would not only make decisions based on reviews or third party resources, but on our own judgement.
It looks like the Metaverse is coming on strong. And this is just the beginning... Ready?
