Why Brands Should Skip the Metaverse Veil

Why Brands Should Skip the Metaverse Veil

New York – Metaverse activations and game-like experiences continue to rise this year as marketers look to reach digitally located consumers, but until such plays are viewed as experience versus experience, valuable success metrics are likely to remain elusive, according to Eric Boullier, president of CEO of Web3 Enterprise class Vatom, who discussed metaverse marketing tactics during the Advertising Week panel on Thursday.

In the past year, brands have taken advantage of the metaverse in a variety of ways, whether as a virtual storefront, a collection of mini-games, an augmented reality experience, or as a path to non-fungible tokens (NFTs). The number of users visiting such activations and the time spent on each session provide some insight into performance. However, the data gap lies in the inability to track success beyond walled gardens, which raises the question of whether or not these channels are worth it.

“At the end of the day, the data you get is like doing a very successful TV ad — it’s a show,” Boullier said. “You don’t really build a relationship with that audience, you don’t get first-party data, you don’t follow through and then create that ongoing experience that’s really the core of your communication strategy.”

In its current phase, Pulier defines the progress of marketing in the metaverse as “the first step,” and to move the needle, brands must adopt an enduring mindset that keeps the end consumer in mind, he said during a panel titled “Marketing in the Metaverse,” which also included members of Procter. & Gamble and iHeartMedia.

In one example, the CEO referred to PepsiCo Frito-Lays, which This week launched the FIFA World Cup Campaign. As part of the campaign, consumers who purchase specific Frito-Lay products can scan a QR code on the product bag to ask them to take a selfie, which will then appear on a giant digital soccer ball. Boullier said the experiment, perhaps the largest cumulative art project in history, offers an initial trade-off – data for experience – but also holds the potential for FIFA fans to check out new faces and the final product.

He continued, “You have an idea of ​​this experience that you were involved in in a virtual plane that now results in an emotional experience and an ongoing dialogue with the brand which is a positive – value on both sides.”

global stage

IHeartMedia has already begun to improve on the concepts that Pulier has always set out to launch iHeartLand in Fortnite in August. The space, which includes a virtual concert arena sponsored by State Farm, plans to host 20 events over the next year.

Building iHeartLand meant stepping back and unpacking what the team believed the metaverse was in order to intentionally move forward, said Rahul Sabines, chief creative officer of iHeartMedia. One of the main priorities all along is ensuring that digital spaces are easily accessible, opening the door without potentially complex add-ons, such as cryptocurrency or blockchain technology, so that a wide range of consumers feel compelled to play, and brands, such as State Farm, have the opportunity. To take advantage of multiple audiences.

“It’s not just one that has been done but creating an ongoing dialogue with our communities wherever they are,” Sabines continued. The concept has proven successful so far — Charlie Puth presided over the first concert hosted in the virtual arena, and in one weekend, Puth had an audience equal to 50 shows at Madison Square Garden, according to the CEO.

IHeartMedia has also partnered with Vatom to create a platform built on a scannable QR code that takes current live events and creates a mixed reality opportunity that aims to enhance on-site experiences through exclusive opportunities and perks otherwise unreachable.

“This is a data exchange that we feel is very transparent,” Sabines said. “One of the things we look for when inviting people to our concerts is that they can have more control over who they are and have an ongoing relationship with the events.”

Boullier said the scannable QR code that makes up iHeart’s strategy represents the evolution from Web2 to Web3. In the past, fans who scan a QR code were more likely to be asked to download a large number of applications to get exclusive benefits. Now, from a single point of contact, consumers can sign up for a one-to-one, legal and ethical relationship with every brand partner that iHeart brings to the table.

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