There’s a big clue in the way we talk about “the metaverse” and not “a metaverse”. The Metaverse is a virtual space within digital environments such as online games, social media, and virtual reality that allows people to live in another “verse” as an avatar where land, buildings and brand names can be bought and sold, often using cryptocurrency.
The “metaverse” is a set of virtual spaces where you can create and explore with other people who aren’t in the same physical space as you. You’ll be able to hang out with friends, work, play, learn, shop, create and more. It takes social media to a whole new level.
Imagine meeting your friend for a coffee at a café without leaving the comfort of your own home? Or what about walking down the street and you think of a product you need. Immediately next to you a vending machine appears filled with the product and variations you were thinking of.
Before you know it, you are purchasing the item and it gets shipped directly to your delivery address. Would it be a bad joke if we said “It takes Windows shopping to a whole new level”? This is the future of The Metaverse. Nobody is quite sure of how large it is going to get and how prominent it will become in our day-to-day doings.
Using the Metaverse for Your Brand
So what can you do to use the metaverse for your brand? We’ve listed a couple of key things to consider below:
1. Where is your audience?
When you think about your brand’s audience, do you think about The Metaverse? If yes, then you need to get your brand on sooner than you think. Think about how much time your target audiences are spending in the Metaverse.
For example, if your audience is younger, then they may be spending more time in the Metaverse in comparison to an older audience. But ask yourself that if your product or service is a luxury item, who is more willing to purchase it and from where. Although a younger audience may see your ad more frequently, an older audience will more likely have the ability to purchase it.
Who are your target demographics? And what behaviours are trending with your current and prospective consumers right now that are indicators of how fast to move into the Metaverse?
2. Watch your competition
You always need to keep your eye on your competitors. When you start noticing what they are doing virtually, it will give you a good idea on what you should be doing. The Metaverse can be very intimidating, but make use of what other businesses in similar industries are doing to assist you in taking small steps.
3. Plan your grand entrance
Ask your agency team to begin planning a point of view on how your brand arrives in the virtual space and how it is seen both physically and emotionally.
Your brand’s entrance needs to be timed, planned, and executed very well as there are so many new merging brands in The Metaverse that you don’t want to get lost amongst the masses. Ask your agency what they can offer your brand to enable you to get the most brand exposure in the Metaverse.
4. Keep your brand balanced
If you are already in virtual spaces, prepare for the fact that all new spaces present risk and reward, ensure that you manage this accordingly. New verses are very unpredictable and lack certain standards in the beginning.
There will be many glitches and unforeseen errors that you may come across, but the most important point is to stay true to your brand and monitor where your brand appears and how it is perceived, especially in new spaces.
Final Thoughts on Navigating the Metaverse
One of the most important factors that you can take away from this blog is to ensure that your business is ready for anything. The Metaverse is still new so that means that there is constant change, there are new algorithms, new trends and new spaces. If you are wanting your business to enter The Metaverse, you better hold on for one hell of a fun ride! If you are needing assistance with your business entering The Metaverse, give us a shout, we are happy to help you!