How are brands embracing marketing in the Metaverse?
February 8, 2022
The Metaverse, according to many, is a new paradigm shift for the internet, and it is already here. The Metaverse is a new paradigm for the internet. Simply put, the Metaverse is any digital experience on the internet that is continuous, immersive, three-dimensional (3D), and simulated in the sense that it does not occur in the physical world. Experiences in the Metaverse provide us with the option to play, work, interact, and purchase. For brands imagining how to operate in this new field or even recognising where to begin can be intimidating. The Metaverse is primarily a shift in viewpoint from a cognitive and behavioural perspective. The advantage resides in enhancing the digital experiences with virtual features such as navigation, graphics, spatial sound, and touch simulations.
Many businesses wonder what the Metaverse is and if they should participate in it. What's exciting and inspiring about the Metaverse is that nothing about it is predetermined. Platforms like Roblox enable users to play in virtual worlds they have created. Decentraland is a user-owned 3D virtual world where players can develop virtual structures ranging from amusement parks to galleries. The Metaverse represents a potentially significant opportunity for marketers, but only if brands prioritise people and their experiences above all else.
Brands can shape the Metaverse to their advantage
Metaverse's immersive environment represents more than just a business opportunity for consumer-focused brands. There are numerous business applications, ranging from teaching future surgeons to demonstrating products to retail staff. Each brand must find its niche and balance the risk-reward equation. Customers are becoming accustomed to the reality of buying and socialising virtually, not just through social media but also the use of virtual worlds, AR filters, video games, immersive interactive, and real-time content. Combined with the reality that the human attention span is 8 seconds, brands have to rethink how they connect with their customers and sell their products.
Most brands will have to forgo their traditional marketing strategies and practices to succeed effectively in the Metaverse. Consumers in the Metaverse will want immersive experiences, and brand partnerships will need to do more than just sponsoring. Brands will need to have a significant real-time live presence to offer the customer something of value in an honest, non-invasive way.
With entertainment and gaming brands at the top, few companies are already influencing the Metaverse ecosystem. Several brands are taking full use of Metaverse's gaming component with virtual experiences and interactive sponsorships. Major brands such as Microsoft, Meta, and Epic Games normalise interactions and connect with people in virtual environments. See how you can advertise in the Metaverse.
five instances of brands embracing the Metaverse
The Metaverse will play an essential role in effective brand campaigns. With the creation of an immersive ecosystem, businesses will have new opportunities to increase brand recognition and engage with their (future) customers by providing a one-of-a-kind experience. These companies demonstrate how marketing can be fun and engaging by becoming the first to enter the Metaverse.
Gucci held a metaverse experience of Gucci Garden on Roblox in May 2021 to mark its 100th anniversary. It was a two-week art exhibition to increase brand recognition among Gucci's young clients. Like its real-life counterpart, the Gucci Garden in Roblox featured a variety of themed rooms that paid homage to the brand's campaigns.
The temporary experience was created to garner attention in a limited time and build on Gucci's 2020 launch of virtual merchandise on Roblox. The Garden featured a store where guests could buy unique, limited-edition avatar products inspired by the exhibits on display in Florence and iconic pieces from Gucci's classical collections. The goods were sold using a revenue share approach to ensure that both the platform and the brand gained value sale of the digital clothes.
Here's how the experience looked for the visitors:
Nikeland is a custom Roblox experience that has been meticulously created to convey Nike's vision and brand values. The virtual world's goal is to transform sports into people's lifestyles. It accomplishes this by offering visitors to experience Nike's vision of a dynamic and connected world through parks, obstacle courses, tracks, and courts. Nike's real-life headquarters inspired buildings and grounds within NIKELAND, and sophisticated arenas allowed visitors to put their skills to the test by participating in numerous mini-games.
Nike seized the opportunity to promote its products through interactive experiences. For example, visitors can play football in the official Roblox colorway of the Mercurial football shoes, or they can dress up in classics like the Air Force Force 1 and Nike Blazer and new releases like the Air Force 1 Fontanka and the Air Max 2021.
While Nike is a well-known brand, it undoubtedly leads the charge by acquiring virtual design studio RTFTK, seeking copyrights for virtual items and building virtual locations to sell those goods. After extending its brand from the actual world to the virtual world of Roblox in November, Nike just announced that it is now extending the virtual Nikeland experience to its Fifth Avenue store in New York City.
Coca Cola - Tafi
Coca partnered with Tafi, a leading designer of characters and digital wearables, in July 2021 to launch digital wearable NFTs for the brand. Coca-Cola held an auction for a loot box of NFTs dubbed The Friendship Box developed by Tafi to celebrate International Friendship Day. The set includes digital wearables that can be worn in Decentraland, as well as a futuristic Coca-Cola Bubble Jacket Wearable in the brand's iconic metallic red and brown, a digital interpretation of the brand's friendship-focused trading cards from the 1940s and The Sound Visualizer, which engages users with familiar sounds like a bottle cap being popped and the fizz of a freshly-poured Coke over ice. The NFT box was auctioned on OpenSea and was sold for 217 ETH.
Coca-Cola has a long and rich history of the building and selling physical collectibles in the physical world, making it one of the most collectible brands of all time. Coca-Cola and Tafi generated a strong feeling of community among the crypto community with this launch and attracting new, young viewers to its social media platforms.
Samsung launched the Metaverse store in Decentraland
Samsung recently collaborated with Decentraland to open a digital counterpart of its flagship 837 physical stores. It was one of the most extensive branding campaigns in Decentraland history. The metaverse experience was divided into three sections: the Connectivity Theater, which showcased stories from Samsung's stage at CES 2022. The Sustainability Forest included a journey through millions of trees to celebrate the brand's sustainability practices and the Customisation Stage for visitors.
In terms of crypto and blockchain, Samsung has a competitive edge when compared to its competitors; its flagship Galaxy smartphones have included a blockchain wallet since 2019, adding support for crypto hardware wallets last year, and just this week, Samsung took the stage at CES to reveal that its 2022 line of smart TVs would involve support for NFTs.
The metaverse platform provides an innovative and exciting approach for Samsung to express its brand messages, particularly those centred on connectivity, customisation, and sustainability. Samsung intends to provide the Samsung 837X experience to more individuals in more metaverses throughout the year, each with a unique experience.
For Brands, the moment has come to take action
The Metaverse will fundamentally alter how users interact with brands. Because of its nature, the virtual world will allow for more significant interaction with brands as long as the experiences are authentic, creative, and engaging. When it comes to the virtual environment, brands should constantly be testing and learning. The Metaverse has the potential to be the next iteration of how humans utilise the internet to connect, communicate, and trade – staying on the sidelines for too long is not an option for brands.
Those in brand marketing or management positions should consider releasing their creativity and storytelling skills. Suppose the creative palette grows in the Metaverse. In that case, we should be delighted to develop experiences at any step in the customer journey, from acquisition through engagement, transaction, and customer service, that has the potential to be both stunning and stickier than before. And, someday, we'll probably want to easily transition from actual to virtual worlds that will be the next frontier.
We are here to help you.
Things in the Metaverse are moving quickly, and you'll need to get started right now if you want to keep up with your consumers and competition.