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A virtual universe within our universe, the Metaverse can either be an excellent opportunity for PR or a missed one. The Metaverse has quickly become a reality, using digital...
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A virtual universe within our universe, the Metaverse can either be an excellent opportunity for PR or a missed one. The Metaverse has quickly become a reality, using digital avatars to explore and interact within an online universe. With this new horizon through which to reach potential customers, it is no wonder why brands are flocking to claim space in the Metaverse.
The Metaverse was recently rated one of Gartner’s top emerging technologies of 2022. Approximately 46 million people viewed Travis Scott’s virtual Astronomical show in the Metaverse, revealing the potential influence of this vast market. With new opportunities such as the Metaverse, your company’s marketing can rise to the competition’s top. But how can you take advantage of the new platform such as the Metaverse? Here are four marketing strategies that will help take your company’s marketing to the next level.
It can be challenging to know where to begin when marketing in the Metaverse. Thankfully, Metaverse marketing strategies don’t require you to reinvent the wheel. The best plan is to use your real-world marketing successes and creatively transfer them into the Metaverse.
Wondering what putting a digital spin on existing brand strategies looks like? Gucci is a great example. Gucci natively inserted its brand into the platform, selling exclusive digital bags. Surprisingly, Gucci’s latest virtual bag sold for $4,115, which is costlier than many of its physical accessories.
Stella Artois is another excellent example of paralleling real-world marketing with the virtual Metaverse experience. This international beverage company loves to sponsor horse races in the real world, so they smartly transferred this passion to the digital sphere by developing virtual reality horse racing. Thanks to Stella Artois’s experiential virtual marketing, individuals can purchase, trade, and race NFT horses.
As we mentioned above, the Metaverse introduces brands to a customer base that companies would not otherwise have access to. However, because this technology is still so new, it can be challenging to measure the marketing effectiveness in the Metaverse. Therefore, we recommend keeping engagement as the primary KPI or key performance indicator. Other indicators will be difficult to measure at this time.
A good rule of thumb when creating, advertising, or hosting a virtual event: make it as immersive as possible. One study showed that 40% of customers are more willing to invest in a product that they experienced through augmented reality
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Host a virtual event
New possibilities have opened for brand recognition and awareness worldwide through the Metaverse. Whether you decide to host, sponsor, or attend a virtual meta event, conferences can be a great way to build awareness about your product or service. With the built-in networking opportunities offered by hosting or sponsoring an event, you gain access to a wide variety of prospective customers throughout the world – all from the ease of your computer.
If you don’t have a budget to host or sponsor a virtual event at this time, even speaking or attending a virtual event can be a great way to build brand awareness. Likewise, attending conferences can be an excellent opportunity to network and meet new people.
Scarcity often creates more significant value. This principle can be true in the real world and the Metaverse. Using your niche to your advantage by creating collector items can be a great way to gain value and visibility. Whether you decide to sell virtual trading cards, NFTs, clothes, shoes, or anything else, creating collector items builds intrigue for your brand and can boost awareness. Like the Gucci handbag, sometimes virtual creations can pay even better than the real deal.
About Lara Tanner: Lara is an Account Associate for Swyft, which is a tech PR firm in Austin and Houston and a top digital marketing and PR agency in Denver since its founding in 2011. Swyft also has a small satellite office where it offers tech PR in San Francisco. Swyft has been listed as one of the top tech PR agencies in Texas for two years running by the B2B services review site, Clutch.co.
