“Metaverse” - oh! The Metaverse! Niel Stephenson coined this word in 1992 and envisioned a future where people would connect in a shared, immersive virtual space. 30 years later this word is still a phrase that the majority of people have heard but are unsure of what it means. Let alone the possibilities it encapsulates for marketing in the metaverse. We’re there but miles to go before we fully realize its potential. Simply put, Metaverse is the next phase in the evolution of the internet. A collaborative space where worlds can emerge and grow. Where you can connect with your friends, meet them virtually, and even get married!
The concept, which was well-known in the tech world, now appears to be spreading like wildfire across the globe. The term - "Metaverse" has more than 677,000 links on Google. The hashtag #Metaverse is used in over 60,000 posts on Instagram and more than 500 times per hour on Twitter. Numerous marketers are now experimenting with this area and its full potential. Marketing professionals need to realize that the Metaverse isn't simply a buzzword; it's real and has the ability to play a major role in our lives just like the internet.
Why Should You Market in the Metaverse?
The Metaverse provides a chance to test out new methods and see if they have any potential as creative marketing concepts. It enables brands to provide exceptional experiences to their customers or users. With new and unique ideas, you can deliver instant gratification and excitement about your product/services, resulting in higher client retention.
Hence, marketers who enter the Metaverse must be more adaptable in their approach to new strategies. While older generations might be perplexed, millennials are ardent consumers of several Metaverse features, including software like Roblox, Decentraland, and virtual worlds. Given their dominance in the metaverse, we cannot overstate the importance of Gen Zs as customers. They currently have $143 billion in purchasing power in the US, and by 2030, experts believe they will outspend both millennials and baby boomers. To take advantage of the Metaverse, digital marketers should focus their efforts on Millennials and Gen Z.
In general, business prospects thrive in the metaverse. Leading businesses have given it a shot, and you should too.
Advertising in the Metaverse
The term "metaverse" in advertising and marketing refers to a persistent, 3D, virtual place where consumers can hang out and potentially be directed with product content and sales enablement strategies. The closest modern parallel would be social media, where users check-in, interact with their friends, family, and peers, and come across companies, advertisements, sponsored content, and calls to conversion throughout these interactions. Social media has changed throughout time to include direct-to-consumer shops that allow you to pay for items online and have them delivered to your address. Similarly, the metaverse might contain 3D "stores" where you can browse merchandise, view advertisements, and make purchases.
Here are some examples of how Fabrik as a metaverse-making apps platform is helping enterprises expand their digital footprint and revenue generation through the metaverse.
Transform news and information into an augmented reality ePaper -
They say visual information is the easiest to grasp and retain. So why read news in archaic textual forms? Fabrik helped revive the magic of newspapers using Fabrik's augmented reality for India's biggest media house by creating an interactive and immersive experience. By delivering specially curated content in the metaverse you can now transform content into an AR e-Paper clubbed with live photos/videos/gifs. See news, images, and critical information come alive on your screen.
Engaging experiences for kids in the metaverse
Everybody's childhood has been greatly influenced by games like "Where's Wally" and "Hidden Pictures." These classic games have long offered fun and innovative method of learning. Engage children with puzzles and learning games through interactive product packages. Fabrik has built gamified experiences that even outline the process of how the products go from the designing stage to your homes for a brand for children, in augmented reality!
The Future is Here
In contrast to the internet, it won't take 30 years for the Metaverse to reach everyone. Many companies are already investing and building new use cases in the metaverse. Not only are they doing it for fun, but also for business and industrial purposes. Taking advantage of early-bird possibilities in the industry can assist businesses in gaining the attention they need. Brands are attempting to construct experiences that would not be feasible in the real world thanks to their imagination and inventiveness.
In the Metaverse, not even the sky itself is off-limits! Therefore, keep an open mind as you assess the best way to interact with the Metaverse.
One such way is to Join us at Fabrik for easy, breezy, and straightforward walkthroughs to market your product in the metaverse and expand your digital footprint.