14/02/23 Expert opinion

How To Market In The Metaverse

The Metaverse is a bold new world. Consumers are making their way into this market; thus, the entire Metaverse is constantly growing. This means the whole landscape is the perfect place for any company to begin marketing.

However, the Metaverse is also a unique and changing field. There are elements of it that are radically different from the real world and elements that are mostly the same. This changes the way marketing works and will impact the success of different tactics.

Because of this, it is essential to have knowledge of the Metaverse before marketing in it. This is the first step in creating a Metaverse marketing strategy. Following this, companies can integrate a strategy that will hook customers and fully take advantage of the numerous benefits the Metaverse has to offer.

Are you ready to tackle the Metaverse? Read on to discover some tips and techniques to help you master marketing in this new landscape.

Define Your Goals

Before going about any marketing strategy, it is important to consider and define your goals. Doing so will help guide you through the process.

First off, consider what you are looking to get out of the Metaverse. If you are looking at it as a pure marketing opportunity, your actions will be different than if you are looking to monetize your Metaverse presence. For instance, selling branded digital items will make your company money, but giving these same items away for free will further your marketing.

In addition, it is essential to consider how diverse your approach will be. Are you planning to focus on a specific technique, or will you use a few different strategies?

Related: How Gamification Can Help Improve Your Marketing

Identify the Best Platform

Not every Metaverse platform is the same. Some have different strengths or advantages that are not present in other platforms. Aligning your company with a platform that suits your needs will help set you on the path to success.

One of the main things to consider is the audience you are appealing to. 67% of Roblox users are under 16, so it might not be the best platform for companies seeking a more mature market.

Also, consider what the platform offers. Some platforms are highly focused on social interaction. Others revolve more around the integration of blockchain technology. You want your company’s integration into the platform to feel natural. So, depending on your company, some platforms will integrate better than others.

Build a Money-Making Model

How to market in the Metaverse

The Metaverse is a landscape ripe for monetization. A savvy business will find a way to take advantage of this and create a Metaverse model that generates income on its own. You can even turn shopping in the Metaverse into a gamified experience.

The most straightforward way to do this is through a digital storefront. Digital goods make up a considerable part of the Metaverse and generate a lot of profit.

There are even ways to integrate real goods into a digital storefront. This allows you to open up a new avenue for selling actual products.

NFTs are an incredibly popular new form of digital ownership. They also work perfectly in conjunction with the Metaverse. When Sotheby launched its first NFT sale, it averaged over $382,000 per NFT.

Selling NFTs within the Metaverse makes sense. These give users a way to maintain actual ownership over almost anything. Many platforms even allow you to use NFTs to link ownership of the digital goods within the platform.

Related: Inside the Gamification of Shopping

Collectibles are significant in any digital landscape and have the potential to be huge in the Metaverse. Online games have already taken advantage of this and use collectibles to drive engagement and increase profits. In some online games, rare collectibles sell for thousands of dollars.

Offering users the chance to gather collectibles will give them a reason to keep interacting with your company. Selling those collectibles will make money.

Create a Venue & Experiences

Making an impact revolves around making your brand attractive to others. Trade show booths with fun games get more attendees, funny video ads have the potential to go viral, and unique experiences draw guests. Providing something people enjoy interacting with drives them to share your brand.

This same principle applies to the Metaverse. In the virtual world, people flock to attractive venues and experiences.

In a Metaverse driven by social interactions, you could provide a venue filled with fun games and ways players can interact with each other. In other Metaverses, providing an experience that feels distinct will draw in people.

Want to discuss your virtual game? Contact us now!

Find Virtual Marketing Opportunities

While the Metaverse seems incredibly new and different, many real-world techniques also work within the Metaverse. This means many marketing tactics you already use may work just as well in the Metaverse.

For example, you can launch a brand activation campaign via a digital game. It’s already been proven that people love to interact through games. A digital game provides an interface where your audience can directly interact with your brand. This will build awareness and connections between the public and your brand. It can also create buzz and increase your visibility.

Plus, our digital games are fully customizable. This means you can choose a format that meets your audience’s needs and your brand image. You can even create a game that can host up to 200,000 players at a time for maximum effectiveness.

Don’t Be Afraid to Experiment

While traditional marketing routes are tried and tested, the Metaverse is still extremely new. Some conventional strategies work within it, but plenty still have yet to be tried. This means there is a lot of room for innovation.

Experimenting with different marketing strategies has the potential for massive success. Companies that experimented in the early days of the internet, like Google and Amazon, are now internet giants. Companies that experiment in the early days of the Metaverse may be able to blaze a similar trail.

This is partially due to a lack of competition. If you can make your mark while other companies still make their way into the landscape, you will immediately stand out.

Consider the Challenges You May Face

How to market in the Metaverse

The entire Metaverse landscape is evolving and growing on a regular basis. This means how the Metaverse is structured will change as it progresses.

This is something to seriously consider when marketing in the Metaverse. Be aware that you will have to adapt your techniques and approaches as the field changes. This is particularly true if the laws regarding the Metaverse are changed, as there is currently a general lack of regulation within it.

Periodically checking in and staying up to date will help with this. Following tech trends and keeping a pulse on the industry will let you know if you need to address problems or make changes.

Related: What is the future of the Metaverse in Corporate?

Market with Innovation In the Metaverse

The Metaverse is new and ripe with potential. Approaching it with a well-thought-out strategy will produce far better results than simply jumping in without care. Plus, staying up-to-date with trends and pushing innovation may yield even greater rewards.

Want to launch your own corporate game in the Metaverse? Request a demo today!

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