Web3 innovation is creating new channels for brand-consumer interactions. Advertisers and marketers need to reinvent their strategies in the metaverse to connect, engage and interact with audiences. They must create memorable experiences, design a unique brand identity, and experiment with innovative ideas. To market in the metaverse, brands must leverage user-generated content (UGC), build partnerships, and nurture their online communities. Brands can also start advertising through multiple channels like virtual billboards, sponsoring events, and product placements in the metaverse.
How is the metaverse used in marketing?
The metaverse creates a new immersive virtual environment for brands to market themselves, stay relevant, and attract new customers. Being present here also helps to connect with audiences in an engaging, interactive, and personalized way. For example, brands can build experiences like virtual showrooms to sell products online or host immersive events through virtual reality - marketing their brand to customers in a way traditional marketing cannot achieve. Brands can also experiment with innovative marketing strategies that create gamified experiences and storytelling.
Brands must define their objectives when marketing in the metaverse to guide the experiences they want to create. A sole focus on increasing direct sales of virtual items could be a goal only once the demand is there. However, for now, brands can prioritize goals like increasing audience awareness, positioning a brand to build its identity, or fostering loyalty within a customer cohort.
How do you launch a brand in the metaverse?
Create a memorable experience: To launch in the metaverse, brands must understand what appeals to their target audiences and build experiences around it. Brands can launch immersive and memorable experiences, including video games, stores, events, and product launches in the metaverse. Van’s interactive skatepark in Roblox was one such unique experience that brought more than 48 million visitors to the experience.
Design a unique brand identity: While entering the metaverse, brands must stand out to be noticed and attract audiences. While building a presence in the metaverse, brands can establish a unique identity by creating a visually appealing environment that resonates with them and using interactive elements to tell their brand’s story. For example, a Singapore-based designer toy brand, Mighty Jaxx, launched physical collectibles which can be scanned to redeem its “digital twin” on the brand’s gaming app, leaving a lasting impression on audiences.
Experiment with innovative marketing strategies: The metaverse is a platform known for its ability to offer creative and out-of-the-box experiences. Brands shouldn’t hold back when experimenting with marketing strategies in the metaverse. Gamification and interactive storytelling are great ways to market a brand and stand out in the metaverse. Some brands collaborate with game developers and platforms to create avant-garde experiences. For instance, Nike joined forces with Roblox to build Nikeland, where users can play sports, like swimming or dodgeball, with their friends.
How do you market a product in the metaverse?
Create immersive experiences: Web3 technologies allow brands and creators to develop immersive and engaging experiences to help audiences remember their brand. These experiences could be events, games, showrooms, or other social interactive spaces - that allow users to experience your brand or product. World of Women (WOW), a thriving Web3 community, built the WOW galaxy in the metaverse that included a fantasy world featuring futuristic art, quests, and trivia, where non-player characters (NPCs) guided users through the experience.
Leverage user-generated content (UGC): The metaverse has millions of users looking to build content in the metaverse. Roblox has over 115 million MAU (monthly active users) engaged in UGC gameplay. Brands can encourage users to create and share their personal experiences with their products. Organizations that enable users to share UGC can amplify brand awareness and build a community around their products.
Leverage influencers and brand partnerships: Collaborations are crucial to marketing a brand in the metaverse as it helps increase brand awareness and engagement. Working with other brands, developers, or members of the creator community can be a great way to create unique experiences. Brands must evaluate their capabilities and skills to assess what kind of brand or influencer partnership in the metaverse will help develop and execute their brand’s marketing strategy. For instance, while creating its in-game brand experiences, Roblox connects partner brands with developers on their platform to support the build. Nascar partnered with Badimo, the development team behind the game ‘Jailbreak,’ to create a branded car for an event. This partnership led to gamers visiting Jailbreak 24 million times during the event.
Engage with the community: Brands in the metaverse must foster a loyal community to launch their presence successfully. They must understand their target audience’s needs to create content that resonates with them. Nurturing interactions with the community through forums and responding to feedback is also a great way to build relationships with the metaverse community. Maintaining these relationships requires brands to not only focus on one-off brand activations but build experiences that have an impact in the longer term to engage audiences and build brand loyalty.
How do I start advertising in the metaverse?
Understand the advertising channels: Brands can advertise in the metaverse through various channels like virtual billboards, sponsored events, and product placements:
Virtual billboards: These are a popular way to advertise on platforms like Roblox, Fortnite, and Decentraland. Brands like Coca-Cola and Adidas already use this advertising model in games like Tiki-Taka Soccer and FIFA Mobile.
Sponsored events: Large-scale entertainment events are gaining popularity in the metaverse. Brands can sponsor such events to increase visibility among larger audiences. For instance, Travis Scott, Lil Nas, and Ariana Grande have attracted millions of fans with their concerts on platforms such as Fortnite and Roblox.
Product placements: Brands can advertise their products through AI entities and digital products embedded into metaverse platforms to provide bespoke branded content. For instance, Hasbro collaborated with Roblox to bring Nerf guns to the platform.
Be creative and innovative: Advertising in the metaverse has no restraints on creativity. Brands can use new tools like haptic technologies to showcase their products and services in a way that engages all senses. Audiences usually try to avoid traditional advertising, but with the metaverse’s multi-sensory experiences, users may find these new ads more appealing.
Track and analyse data: Brands must understand that marketing metrics in the metaverse go well beyond likes, subscribers, and shares used to measure success on Web2 platforms. Brands must set objectives and key results to evaluate the potential return on investment (ROI) and campaign success in the metaverse. Keeping tabs on data more geared towards ‘engagement’ focused key performance indicators (KPIs), like visits, actions, and dwell time, are essential to measuring success in the metaverse. These metrics will help advertisers optimize their efforts by making adjustments to improve campaigns.
Partner with a metaverse-focused agency: The number of metaverse-focused agencies has increased in recent years, helping brands get the support they need to grow in the metaverse. Collaborating with an agency can help brands to get a complete advertising strategy planned and executed. LandVault, the largest builder of the metaverse, is one such agency that helps brands buy land, build experiences and grow in the metaverse.
Don't rely solely on advertising: Brands must create the perfect balance between metaverse advertising and experiences. Besides advertising, brands must focus on building relationships with their audiences through immersive elements like games, events, or showrooms, which helps organically put a brand’s products and services in front of people.
Brands in the metaverse have an opportunity to market themselves and connect with audiences in an engaging, interactive, and personalized way. To launch a brand in the metaverse, companies must create a memorable experience, build a unique identity, and experiment with innovative marketing strategies. Brands can market their products and services by creating immersive experiences, leveraging user-generated content, building a community, and partnering with brands and influencers. Brands can also get started with advertising in the metaverse by placing ads on virtual billboards, sponsoring events, or conducting product placements. Brands can succeed by being as innovative as possible and tracking performance metrics for further optimization.
Are you a brand thinking of launching in the metaverse? We can help you market your brand by helping you build and grow in the metaverse. Get in touch with us!