Opinion: How will marketing and brand advocacy change in the metaverse

Opinion: How will marketing and brand advocacy change in the metaverse

Ajit Narayan, Chief Marketing Officer, Socxo shares his thoughts on how the metaverse is still an unknown entity and marketers need to prepare for it with facts, research and data, not FOMO.

Metaverse is cooking. But the recipe that goes beyond the basics is still being discovered and will remain so until orders start coming in. Let’s correct this I call it. Metaverse is still an unknown entity. While the hype around her, brands, early adopters and geeks jumping headlong into her, what will happen to her and will she show up is a question we can’t answer right now?

Here are some stats as of January 2022 (Source: Statista)

  • 31% of adults surveyed in the United States have never heard of the metaverse
  • 31% have heard of it but weren’t aware of it
  • 24% were somewhat familiar

Therefore, the unknown element is relatively high. No one has been spotted walking around wearing headphones yet. So, hold your horses. However, this is a sign of something big coming our way. It’s just that we don’t know whether it will be a successful strike or a failure.

There is a FOMO angle that creates the hype. And marketers are the first to try it.

They don’t want to miss the great opportunity of waiting outside.

The metaverse includes a plethora of moving parts (AI, video, blockchain, etc.) and huge amounts of data that would be complex to interpret and use. The other side of the above data is also true. An estimated 50 million + + VR users already. (Statista source) So this shouldn’t be ignored.

Marketing could have an extra dimension in the coming days. This will include marketing in the metaverse.

This includes three fundamental shifts in thinking.

  1. Metaverse is always running. Just because you’re logged out, it doesn’t mean it’s locked out. But then, the internet is on too you might say. There is a big difference here. This is for people who actually want to interact with you then and there in exchange for filling out a form or responding to a chatbot. They expect you to be there.
  2. Your audience there will be fine. But now you have to deal with multiple characters of the same character. As if one character wasn’t enough. The same person can interact differently in the real world and differ intricately in the metaverse. It made defining audiences and delivering customer experiences difficult.
  3. Interactions will traverse the physical and digital worlds. Including currencies.

Also Read: YouTube Announces New Ways for Creators to Make Money, Supporting Next Wave of Global Creative Entrepreneurs

However, how will this affect marketing?

Event marketing will take it to the next level. Indeed, virtual interactions through chatbots, webinars, etc. have emerged after the pandemic, but this takes it to a whole different level. Imagine doing virtual sampling, meeting peer groups, playing virtual games, networking, sampling, visiting galleries, etc, all with your own avatars in metaverse events.

Social media and the metaverse. Imagine interactions in the metaverse, mirroring real-world social media channels? Interactions, exchange and conversation will fester while taking hype to a whole new level.

Content Marketing? Move over the video. This is a space for interactive content. Action, reaction and decisions on the spot. People are no longer sitting around and watching your videos, they are expecting to interact interactively and wanting to get involved while your content tells the story.

Relationship programs will become more complex. The benefits of being in a program go beyond just points and coupons. Expand it to include NFT concerts, exclusive environments, avatar mods, and more.

Completely reimagining the new retail environment. It can offer benefits across channels. Buy in the metaverse, redeem real world cash etc.

Given this complex and multidimensional scenario. The invitation will have more dimensions to deal with. Imagine customers with your brand tattoo in the metaverse? Or referrals that are generated in the metaverse, but conversion takes place in the real world? Events, social, content and key elements of brand advocacy. Add to those rewards, redemptions, and perks.

While advocacy depends on content and participation. Imagine being able to offer rewards to your supporters in both environments and get them to share content across dimensions. some examples:

  • Nike, one of the first users of Cryptokicks, is selling a virtual copy of their sneakers. Add to that they have also created Nikeland in Roblox a popular environment (among metaverse users).
  • Chipotle allows Roblox players to exchange virtual coupons for burritos in real life
  • Ariana Grande has teamed up with Fortnite to provide players with a multi-dimensional musical journey. She has performed her most famous songs like Raindrops, 7 Rings etc.
  • Millennium Hotels & Resorts has launched M Social Decentraland, the world’s first hospitality group to operate a hotel in the metaverse.

In this interactive experience, those who reach the top of Decentraland, share a snapshot of their avatar using the hashtag #MSocialDecentraland On their social channels, you have a chance to win real hotel prizes.

There is a lot there. And it seems like an exciting time for the marketing fraternity to create a buzz and help build the Metaverse. Since many of them are still “under construction”

This article was written by Ajit NarayanCMO, Socxo.


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