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Statistics from Sproutsocial indicate that 67% of marketers intend to invest part of their budget in Metaverse technology. These survey findings underline that many brands are ready to embrace Metaverse in their marketing plans. The Metaverse is one of the components of Web3 that leverages blockchain technology to deepen brand-user relationships. Different brands like Gucci, Facebook, and Disney have joined the Metaverse to become early adopters of the technology. Are you wondering how you can also participate in this cutting-edge innovation? If so, you have come to the correct venue. We explore pro tips to help your brand enter the virtual world.
What is Metaverse technology, and how can brands use it?
Metaverse technology denotes virtual worlds that allow users to have deeper relationships with each other and interact with various applications and services. Also, Metaverse refers to any virtual spaces dedicated to developing immersive ecosystems. For example, Roblox provides brands with an opportunity to create branded realms.
While many people use Metaverse and Web 3.0 interchangeably, the two explain different ideas. In a nutshell, Web3 is a decentralized network developed on blockchain technologies. On the other hand, Metaverse uses augmented reality (AR) and virtual reality (VR) to facilitate the interaction between brands and users.
The virtual worlds provide a unique experience for consumers to interact with each other, play games and buy digital items. As a promotional tool, many brands are leveraging the opportunities in Web 3.0 to stay ahead of the competition.
Here are some ways brands can utilize metaverses:
- Market and earn income from virtual products: in the virtual worlds, businesses can sell non-fungible tokens (NFTs) that users can utilize in their metaverses. For example, a fashion company can provide virtual apparel that users can wear in their own digital world.
- Build interactive brand experiences: the virtual world allows brands to create new experiences that enable users to engage deeply with the company. For example, a travel company can develop a digital journey of a specific location, allowing customers to tour the place virtually and experience its culture.
- Boost user loyalty: because of unique user experiences, customers will likely keep visiting a brand in the Metaverse. Furthermore, brands can incentivize their users with exclusive deals, special events, and first access to new items. These strategies help to develop an engaged brand community that can buy the business’ offerings.
- New product testing: brands can use Metaverse as a venue for new product testing. Before releasing the products to the market, brands can develop prototypes and share them with members of their virtual community. After using a product, community members can offer valuable feedback on the improvement the brand should introduce before release.
Tips to help brands transition to Metaverse
Now that you understand the benefits of metaverse technology, the next step is to focus on transitioning your brand to the virtual world. Here are the tips to help you:
Understand what Metaverse means for your brand
Before you migrate to Metaverse, you need to understand how the technology functions. Equipping yourself with knowledge will help you deliver successful business activations. Thus, conducting an in-depth study about the virtual world helps launch smoothly. Some terminologies to understand include extended reality, virtual reality, and interoperability.
Also, Metaverse is at its growth stage and keeps witnessing new developments with each passing day. So, it’s essential to keep updating yourself on any new developments. You should also know other elements of metaverse technology, including digital currencies and wearables.
Evaluate whether the metaverse technology is relevant to business and your target crowd
In most cases, Metaverse appeals to Gen Z, but there are other qualities to evaluate apart from age. For example, a gaming fashion brand can benefit from activating various Metaverse websites, such as Fortnite and Roblox. Active players are always in game kits when participating in a match. So, a promotion campaign that targets this crowd in the virtual world can be successful.
Also, your brand can enter the metaverse world to provide exclusive items to your target audience. For example, gaming brands can join the virtual world to sell in-game items.
Think about how to conduct the promotion campaigns
The primary reason for entering the Metaverse is to allow a brand to engage the audience or sell its offerings. However, other brands can join the platform to provide their users with an exclusive digital experience. So, it’s critical to brainstorm about what your brand wants to accomplish before joining the Metaverse. For example, you can partner with a metaverse website to develop branded NFT wristwatches if you’re a fashion company. Projects should also collaborate with an experienced blockchain technical writer to create content for the target group.
Select a virtual world platform
Suppose you verify that the virtual worlds can support your brand objectives. In that case, you should select an appropriate platform to help you deliver promotions. Some metaverse examples in the market include Altspace VR, Blue Jeans, Cryptovoxels, and Gather. The platform you choose should align with your brand needs.
Join the Metaverse
Once you’re through with the above steps, you should enter the Metaverse. However, before entering your brand, you should explore your chosen platform as an individual. In summary, Joining Metaverse is as simple as downloading an app.
Suppose you decide to activate your brand in Metaverse virtual reality. In that case, you should partner with a metaverse website to help you achieve your dream. So, remember to call a representative of your chosen platform and discuss your need with them.
What you require to participate in the metaverse technology
What you require before joining the Metaverse depends on the platform you choose and the kind of experience you need. However, the essential requirement of each platform is an avatar.
Also, the devices you use to navigate the virtual worlds depend on the platform requirement. For example, Fortnite will let you in through a PC, a console, or an iPhone.
Some virtual worlds demand that you have a crypto storage app. You can get this wallet via crypto exchanges like Binance.
Devices like headsets allow you to derive a completely immersive experience. So, you can explore different headsets in the market and choose the one that meets your requirements.
Final words on metaverse technology
Brands can take advantage of the opportunities in the metaverse technology to deepen their relationships with customers. Metaverse uses various technologies, such as VR and AR, to deliver fantastic user experiences. The tips covered here can help your brand transition to the virtual world.
