How to join the Metaverse: The complete guide for your brand
Facebook’s rebrand to Meta in late 2021 made the metaverse a household name and it’s been an Internet buzzword ever since. But just because it’s a buzzword doesn’t mean every brand should join in.
In this article, we’ll break down how to determine if the metaverse is the right match for your brand. We’ll also show you how businesses have already entered this trailblazing tech innovation.
Why brands invest in the metaverse
Let’s be honest, a 4D immersive universe sounds intriguing to consumers and companies alike—brands aren’t just selling a product or service, but a futuristic experience. As a pillar of Web3, the metaverse promises technological advances that will transcend the physical and digital realm, decentralize the Internet and transform the society we know today.
According to the 2022 Sprout Social Index™ , more than two-thirds of marketers anticipate investing at least a quarter of their budget into metaverse tactics over the next 12 months. Some 33% of marketers believe their brands are ahead of the curve for implementing augmented reality (AR) or virtual reality (VR) into their social strategy.
Brands are more likely to jump on board than consumers, who aren’t all the way there yet.
Even Gen Z and Millennials, who are most likely to anticipate using AR, VR or extended reality (XR) to interact with brands in the future, are still in the minority at 46% each. As the metaverse grows and becomes more accessible to consumers, adoption will also increase.
Metaverses offer an entirely new experience for users to socialize, play games, work and even make purchases. Even though consumers have been slower to adapt, the excitement around this new technology has skyrocketed on social media. According to Sprout Social Metaverse listening data from January 10'March 10, 2022, there was a 102% increase in conversations about the metaverse with a positive sentiment of 91% on Twitter.
And many big-name businesses are already taking advantage of the metaverse as a marketing tool, creating brand activations to stay ahead of the competition. Similar to the birth of social media, brands joining the metaverse want to be early adopters who take calculated risks and cash in.
How to join the metaverse: 5 steps to find the right brand opportunity
1. Understand the metaverse
You need to understand what the metaverse is, how it works and industry projections before you join. If you don’t have proficient knowledge of the metaverse, you won’t be able to pitch or execute successful brand activations. You wouldn’t dive into a traditional campaign without any research. Preparing to join the metaverse is the same. You don’t need to be an expert, but you should be able to explain essential concepts like extended reality and interoperability.
The metaverse is an emerging technology which means new developments will arise. Stay on top of online discourses and breaking news because like any other technology, the metaverse will change. And continue to learn about other Web3/metaverse components like cryptocurrency and wearables, because you’re likely to hear about them again.
2. Consider if the metaverse aligns with your target audience and brand
Currently, Gen Z and Millennials are the most active participants in the metaverse, but consider other traits beyond age. For example, an energy drink or gaming rig brand could benefit from a brand activation on a metaverse platform like Fortnite and Roblox (MMOs). Major gamers use energy drinks to stay alert while playing and gaming rigs allow them to play comfortably, so a marketing campaign that engages this audience in the metaverse could work.
Also, think about how your brand aligns with the metaverse in general. For example, many fashion brands have joined the metaverse to sell exclusive digital clothing and NFTs, establishing themselves as trendsetters that offer their clientele an exclusive experience.
Roblox has released another Limited item. This is the first Limited item since October 2019. 😳👀
Gucci Dionysus Bag with Bee: https://t.co/pMaKiA9l4L pic.twitter.com/mcs2IWqCL8
— Bloxy News (@Bloxy_News) May 18, 2021
