“Metaverse” this word has gained so much traction that online stats show people made 2.62 million searches of the term in October 2021. Perhaps, it also caught your attention, and you wonder how the metaverse can benefit your brand.
With a large number of users, there is no doubt that businesses can advertise in the metaverse and take advantage of the countless audience exploring virtual worlds.
Meanwhile, you might be unsure about the effectiveness of advertising in the metaverse. In that case, consider the following examples that illustrate the point of metaverse adverts.
During the lockdown restrictions, Travis Scott got creative by collaborating with Epic Games to hold a concert on Fortnite. Twelve million viewers attended the event from the comfort of their homes, making it a huge success.
Secondly, in 2021, Gucci decided to sell some virtual goods for digital avatars on Roblox. The winning bid for a virtual handbag sold during the auction was a whopping sum of $4,115.
Further, Marvel Cinemas created 86,000 Spiderman NFTs as a gift to early buyers of Spiderman: No Way Home movie tickets. With this move, the company saw a high turnover for its ticket sale.
Although those brands have established markets and millions of customers, they are at the forefront of creating opportunities to advertise in the metaverse.
Benefits of advertising in the metaverse
- The following are reasons why businesses should choose to advertise in the metaverse:
- Marketers can use technologies like artificial intelligence and robotics to improve the quality and content of their ads.
- It is easier to target a particular audience or demography based on their activities in the virtual space.
- Advertisers will receive quicker feedback from consumers. Thus, they can improve the quality of products and services faster than before.
- The metaverse is an open world. Therefore, advertisers can reach unlimited numbers of people.
How to advertise in the metaverse
Consider the following ways of creating effective awareness for your products and services in the metaverse:
Busy streets and roads have spaces for billboards and posters in the real world. Similarly, bustling locations of metaverse platforms have areas where you can display your products on digital billboards.
Today, millions of people can access the metaverse either through virtual reality or augmented reality. Accordingly, one effective way to advertise in the metaverse is using billboards in areas where many avatars visit simultaneously. More so, running a virtual billboard ad is quite affordable.
Video gaming platforms such as Grand Theft Auto, Tiki-Taka Soccer, and NBA2K often promote different brands in their games. Blockchain-based metaverses also allow you to rent or buy virtual land and build a billboard where you can display adverts.
When choosing a metaverse platform to advertise, ensure you analyze the average number of persons using the virtual world. Also, consider your target customers and determine whether their age, location, and income fit the set of people who frequently visit metaverse platforms.
In addition, you should explore creative and entertaining ways to interact with avatars. The bottom line is to use virtual billboards, banners, and other metaverse display mediums to create awareness about your brand.
Allow customers to experience your product before they buy it. The metaverse is designed for users to feel the immersive experience.
On this note, a business can create virtual showrooms where they display goods in real-time. When creating a gallery in the metaverse, ensure customers can quickly locate your store or outlet.
Building an impressive design will powerfully attract metaverse users and earn a word-of-mouth reputation and referral. For instance, the Gucci Garden is an online showroom where the brand displays some luxury items.
After purchasing a shoe or cloth from Gucci Garden, buyers will receive a physical version of their order.
Moreover, you save costs when you create a digital showroom because you won’t need to rent a location in the real world or a physical sample of your product. In addition, your business will not incur daily expenditures in maintaining a physical showroom.
Businesses can select among the different types of virtual showrooms depending on the type of product and target audience.
Whether you prefer a virtual reality showroom, augmented reality showroom, or virtual web showroom, your ultimate goal is to engage potential customers to buy your products.
Use Non-fungible tokens
Researchers claim gamers will spend over $75 billion in 2025 to buy in-game items. Since young people are obsessed with online gaming, you could use NFTs to target their avatars.
As noted earlier, someone paid a substantial amount for a virtual handbag that decorates an avatar. You could mint some of your products into NFTs and then display them in an NFT marketplace or within the metaverse.
Large companies such as Nike, Coca-cola, Samsung, and Gucci have created NFT collections as an incentive for attending a virtual event or a part of their metaverse experiences. Users who visit virtual worlds often purchase NFTs to decorate their avatars.
There are other ways to advertise in the metaverse besides the three ways that the article explained. You could do more research and find a form of advertisement capable of helping your business reach its target audience in virtual worlds.
Entrepreneurs and brands can use innovative ways to advertise their real-life products in the metaverse. It is of utmost importance that you familiarize yourself with the metaverse, understand how it works, and use it to discover new customers.
Also, businesses must explore ways their products can reach the target metaverse audience. Finally, as virtual activities become a better part of our reality, advertising in the metaverse will be as big as advertising on the internet.