How significant do you think the metaverse will be for marketers by the end of 2022?
1 = not at all, 5 = very
How significant do you think the metaverse will be for marketers by the end of 2025?
1 = not at all, 5 = very
What opportunities for marketing in the metaverse do you think are most interesting for marketers? If you don't think there are any, share that as well and explain why.
Right now, big brands doing branding plays and “land grabs”. Smaller companies will remain in the paid social / paid search area until a sufficient percentage of the population goes into Web3. There will be segments which will go into Web3 faster than others- luxury goods, new high tech products, some higher end cars, etc.
Silverman Consulting LLC
Influencer seeding, experiential marketing, and brand integration (with the platform) are really interesting right now.
I think the metaverse is absolutely on the rise and as with any new technology or industry, marketing is a key crucial component.
In the short-term, I think there’ll be an opportunity for agencies to make money from clients who have FOMO. At the same time, unless there are some compelling reasons to pretend to be in this “shared hallucination” that has no actual physical reality, regular old non-industry people may try out the various events that happen there once or twice like they did with Second Life, but not form the habit of jacking in. Brands buying a fake location “next to” a fake location owned by a famous person isn’t a sustainable model for attracting visitors – unless there’s a damned good reason for them to go. And remember, unless those visitors become paying customers of the brand, it’s just an expensive wank-fest (and possible case study for Cannes, I suppose). The purpose of marketing is ultimately to drive sales. If it doesn’t, stop doing it. At the same time, if we move away from the definition of “metaverse = avatar-driven fake reality” and towards “the data that I need is available to me regardless of location, platform, meatspace, bitspace, or mixed reality” then I think we’re on to something.
I’m not sure I agree with the positioning of “in the metaverse”…. but regardless I think there are a ton of opportunities to leverage AR, VR, and immersive technologies in marketing activations. That could be in the form of branded clothing and swag, simply putting up digital billboards in virtual environments, or creating AR experiences in real-life environments, such as at concerts, sports games, or retail. Lots of opportunities exist today and have existed for years, and are getting better and better as the technology improves and more people use it.
I think marketers can reimagine affiliate marketing in the metaverse for the benefit of everyone involved. Changes in NIL regulations let Adidas turn 50,000 college athletes into ambassadors making affiliate commissions. Brands can do the same in the metaverse. As more brands buy or build virtual storefronts, fan meetups with influencers will drive foot traffic as it does IRL. That’s an affiliate opportunity. Imagine a retailer with a roster of influencers available to engage fans virtually and get paid commission like a sales associate would at the mall. They can tap into real fans and product experts, typically micro-influencers, for trusted recommendations during the buyers’ journey.
Wherever there are audiences, there will be marketing. I can imagine all forms of marketing communications working. Advertising, lead gen, influencer, community, events, content, etc. We’ll need some kind of targeting capabilities to be baked into the environment.
I think marketing in the metaverse will be similar to marketing in any other medium, It will help pay for content and be in A/R form vs. in print, on TV, streaming, or other platforms. So you might be experiencing something via the metaverse only to have a “commercial break” so to speak.
I think we are too early for big brands to market in the metaverse. There are no solid projects yet that provide enough visibility, and the chances of picking projects that fail and shine a negative light on brands are high. I would sit on the sidelines here, appoint a small team to watch the space, and learn from other people’s mistakes
An evolution of audience engagement that is more interactive than web2, where people interact with brands in new ways: collectibles, experiences, and thriving communities free of algorithms, data collection, and where successful strategies provide value and/or utility.