The word on the street is that the metaverse is here to stay. Is this just a trending topic, or is this the future of social media marketing?
According to a November 2021 survey, 68% of Americans were uninterested in Meta’s vision of the metaverse. This statistic is rather unencouraging. However, this virtual world, where users have the ability to interact with companies and digital platforms, seems to be what all the futuristic buzz is about. So if almost 70% of Americans are uninterested or skeptical about the metaverse, then why have we seen super bowl commercials about this virtual world as well as major brands, such as Nike and Mcdonald’s, investing so much in theplatform?
Over half of all U.S. kids between the ages of 9 and 16 play Roblox, a popular metaverse virtual space. And believe it or not, this generation of kids will be our most profitable consumers in the coming years. As brands, we need to meet our target audience where they’re at. If they’re in the metaverse, we should be too. And, it is never too early to establish a digital footprint in the next big digital platform.
For a little bit of background, the metaverse is hardly new. While it is a buzzword now, it was actually coined back in 1992 by a science fiction writer, Neal Stephenson, where he described a virtual, 3D space where users could interact with each other. Today, Stephenson’s vision is being brought to life and users can interact with the metaverse using VR headsets. Back in October, Facebook rebranded itself as “Meta”, hoping to expand on its social media capabilities and get the ball rolling on the metaverse. Meta has dedicated over $10 billion to metaverse development, including launching VR headsets, called the Oculus, which is a portal into the virtual world, NFTs and cryptocurrency.
Here are three tangible ways that your brand can thrive in the metaverse:
- Sell virtual goods and NFTs
NFTs (non-fungible tokens) are the building blocks of the metaverse and they basically mark an official stamp of ownership on digital goods. Digital art, photos, songs and even digital real estate can be an NFT. Check out Paris Hilton’s NFT collection! - Build a brand community, reaching massive new audiences
Brands can create digital spaces where loyal brand users and newcomers can participate and interact with the brand. A major perk of the metaverse is that there are no geographic restrictions. Anyone from anywhere can enjoy your space. - Create virtual showrooms
Speaking of virtual spaces, you can create virtual showrooms, which create unique opportunities for customers to check out your product in realistic ways before physically buying it. Customers can explore your products from the comfort of their own living room.
As the metaverse continues to be developed, more and more opportunities will arise for your brand. You don’t want to be left behind on this one!