Marketing in the Metaverse – What will it look like?
The world is coming to a convergence of new technologies as we have never witnessed before.
We are still only scraping the surface of what these technologies will look like when fully combined. However, we can tell you they are all quickly coming together to successfully forge a completely new digital world.
And the name of that digital world is the metaverse.
In this article, we’ll discuss the metaverse and what it might look like. We will also explore how marketers will look to take advantage of it. In doing so marketers can create meaningful connections and find new customers all over the real, and digital, world.
Table of contents
What is the metaverse?
It’s impossible to say exactly what the metaverse will look like. Still though, we can get a pretty good idea based on where things are currently heading.
In short, the metaverse is a collective virtual shared space.
Many people think that the metaverse will look like the popular book/film ‘Ready Player One’ – a digital, immersive world. In ‘Ready Player One’ we are represented by avatars and are disconnected from the physical world.
On the other hand, many people think that the true mass adoption of the metaverse will be in augmented reality. Think of putting on glasses that connect you to the internet 24/7. With an intelligent virtual assistant taking care of all your needs and answering all of your questions. Just check out the 2 minute mark of this video for a better idea of what we mean.
But regardless of what the metaverse actually ends up looking like, it’s undeniable that it will completely transform our culture. It will change the way we interact with each other as a whole.
That’s where marketing comes into play.
Here’s a look at a few ways the metaverse could potentially look like, and how brands can take advantage of them.
#1 – Virtual assistants
One of the most interesting aspects of the metaverse will be the emergence of the ‘super’ virtual assistant.
What is the ‘super’ virtual assistant?
Think Siri… but on an extremely potent stack of steroids.
Powered by technological advances in AI, virtual assistants like Siri, Echo, and Google Assistant, are going to revolutionize how we live our day-to-day lives.
From doing mundane tasks, to getting answers to questions, to becoming more efficient at work, we will ‘own’ super virtual assistants in the metaverse that are tasked to learn about us, and make our lives easier.
Virtual assistants and metaverse marketing
As AI technology improves, so will the intensity of the relationship between humans and their VA’s. From the perspective of a business, the relationship of robot -> person will look like business -> robot -> consumer. This means that businesses will have to focus on their relationship and ability to influence VAs. In doing so they can influence the consumers they are so inextricably tied to.
It’s also worth noting that there will be many types of virtual assistants in the metaverse. This doesn’t just include our own virtual assistant, but VA’s from brands themselves as well.
For example, gyms will create virtual assistants to help motivate you in your workouts.
Retail companies will create virtual assistants to help answer your questions.
Agencies will create VAs to help with the onboarding process.
By creating VA’s, your business will be able to automate otherwise mundane tasks. At the same time being able to create genuine connections in the metaverse.
#2 – eCommerce
The metaverse might only be a few years away. However, the possibility of the digital world completely replacing the real world is much, much further away.
This means that eCommerce brands are still going to be as powerful as ever. In fact, eCommerce sales are going to hit an all-time high this year. They are forecasted to generate over 5.5 trillion dollars worldwide.
It might seem counterintuitive but the truth is that eCommerce brands that do marketing in the metaverse correctly will reap immense benefits.
Marketing for eCommerce brands in the metaverse
Drones will help expedite delivery times in the future. Cryptocurrencies could help improve the speed of purchasing too. However, the real power in metaverse marketing for eCommerce brands will be in creating augmented experiences. These experiences can allow potential customers to try a digital version of your products.
Let’s say that someone needs a new pair of shoes. Normally they would visit the nearest outlet store, or they would make an online purchase and hope that the shoe fits correctly.
Instead, imagine this. This customer plugs themselves into the metaverse. Then they can visit the store AND they try the shoe on – all virtually! You would put the shoe on your avatar, ‘walk’ around for a bit, make sure it fits correctly, and boom! Make a purchase.
This sort of augmented experience will redefine eCommerce in the years to come. Brands that invest in the technology will be able to one-up their competitors.
#3 – The service industry
At first glance, the service industry seems like it would be the last industry to benefit from the metaverse. After all, the majority of the service industry’s value (whether staying at a hotel, eating at a restaurant, etc) is based on an experience.
Well, as the metaverse develops, so will our idea of what an ‘experience’ is. Experiences will shift from existing exclusively in the physical world, to also existing in the digital world.
Marketing for the service industry in the metaverse
Let’s start with hotels. Now you gamble on and book a room that you’ve never visited before. In the Metaverse, you will be able to give yourself a virtual tour. This would either be done via your avatar, or the room would virtually populate the screen of the lens on your face.
This would give you an immersive experience. It will also give you the ability to get a feel for the room before you actually booked it.
The restaurant industry can take advantage of this as well. Savvy brands will create digital versions of their restaurants. Thus enabling people to enjoy the experience of dining somewhere else from the comforts of their own homes.
We are also starting to see this play out in the wedding industry. Now many couples are increasingly getting married in the metaverse.
Final thoughts on marketing in the metaverse
This article is only scraping the surface of what marketing in the metaverse will look like. The technology will develop rapidly in the next few years.
But while we are only in the beginning, the future is inevitable. Brands that learn to adapt and invest in the right technology will be the ones who come out on top.
No matter your industry, if your business is looking to expand into the metaverse, be sure to reach out to a First Page digital specialist today.