Can The Metaverse Be A New Marketing Tool?

Co-founder of Webikondri, Elif Şen, wrote about her opinions on the topic of the metaverse being a potential tool for marketing in the new age of the internet.

While the Metaverse promises a "phygital" (physical and digital) solution for people, it offers opportunities for companies such as reaching new audiences, rejuvenating the brand, increasing trust and potential. However, for these, it is very important to have a team that can adapt to all these processes and have the competencies required by the expected digitalization in the future.

There has been a huge focus on the Metaverse over the past year. Each brand has done adaptation and experimentation projects in line with its own ecosystem. Many activities were carried out, from producing limited collections to digital concerts. But it seems that brands are starting to fall into a loop.

Reshaping the Future of Marketing with Metaverse

So, how to get out of this mess? Meta doesn't just mean "entertainment-oriented virtual world". Therefore, we need to internalize the feature of being a metadata repository and use it as a marketing tool. The Metaverse is advancing towards its goals as a virtual world structured in parallel with the data we have. It offers multiple online spaces where people can shop, travel, socialize, and interact with each other. The goal is to create an alternative world with all the features of the world you currently live in. It may take several years for the Metaverse to fully enter our lives, like social media platforms.

In online game universes such as Fortnite, Roblox, Animal Crossing, and Minecraft, you can see adaptations that can be examples of Metaverse. Now, the reason why I wrote this article: Why should you market on Metaverse? The age of digital addiction has transformed consumer behavior. In part because of the coronavirus pandemic, more people are shopping, working, playing, and learning online.

Metaverse promises us a "phygital" (physical and digital) solution. For companies with the idea of Metaverse, it offers opportunities such as reaching new audiences, rejuvenating the brand, increasing trust and potential. Of course, I would like to warn you about a point that should not be missed: It is very important to have a team that can adapt to all these processes and have the competencies required by the digitalization expected in the future.

It is impossible to move on without mentioning the importance of a constantly improving and solution-oriented team or supplier relationship. I see that the missing point in every marketing article is the relationship between the team and the supplier (agencies, etc.). Maybe in the future I'll come across an article with a lot of experience on the subject. I have prepared some tricks for you that I think can help you get started with Metaverse marketing.

Try to adapt your brand without disturbing the naturalness of the platform: Let's say you decide to take part in a Metaverse environment. You should interact with users without compromising the benefits and experiences of the platform. If you have chosen a game-based platform, then take part in the games.

If you search, you can see that Coca-Cola, Samsung, and Volkswagen ads appear in many games. If you are on a more interaction-oriented platform, you should plan your projects around providing experience.

Target parallel real-life marketing: I know this title sounds futuristic, but it's not. Switching to metadata doesn't mean you have to do things differently. The point you should choose as a good start is to replicate what you offer in real life in the parallel virtual world. The best example that can be given is the mayonnaise brand Hellmann's. They brought their commitment to reducing food waste to Animal Crossing, thus creating their own virtual island. They gave their players tasks on this topic, then collected donations for each task given. All the revenues collected from the game were donated to FareShare, a food aid organization, as 50 thousand meals.

Create virtual products or services that can be sold to virtual people: People value personalization in the avatars they create as they enter this world. It is very important that it reflects us as much as possible, from the virtual jacket we wear to the shoes we wear on our feet. As a result, the “avatar economy” emerges. Virtual clothes, accessories, consultancy… I recommend that you plan in advance what you can offer according to your own brand position.

Build your own virtual space: Oh, let's not misinterpret what I said as just buying a plot of land. You can think of a startup that will be based on VR and AR without immediately venturing into a Metaverse environment. Whatever you decide, remember that it must offer interaction. Until 2024, different developments await us; for now, just keep adapting. I suggest not making a permanent decision.

Plan immersive and consistent work: We are all aware of the importance of experiential marketing, which is one of the most important drivers of customer engagement. Research shows that brands that focus on creating experiences gain 25 percent more brand loyalty than those that don't. That's why experience can influence how they view your brand and provides an opportunity for you to form long-lasting bonds with them.

Metaverse investments are expected to reach $800 billion by 2024. Competition is increasing day-by-day. Therefore, being a pioneer in your industry is just as important. For this reason, I recommend that you create a research and project pool by establishing a "Metaverse committee" while planning for the New Year.