Mumbai: The recent advent of the metaverse, a seamless, virtual 3D world where users can interact with each other, hold meetings, and even purchase items, has been a popular topic of discussion in recent months. The opportunity for advertisers to target metaverse users with branded materials and other sales strategies is obvious.
When it comes to advertising in the metaverse, immersion will be the biggest selling point. This implies that marketers will not only be able to deliver better, broader and more sophisticated brand experiences, but they will also be able to do so without appearing intrusive, as customers will already be immersed in a virtual environment.
But how will this manifest itself in practice?
Brands need to see the metaverse first and primarily as a new advertising channel. The Metaverse, like any other channel, will provide advertisers with unique opportunities that will lend themselves perfectly to richer and more immersive storytelling experiences. Ads in the metaverse have already taken some common forms, such as product placement.
Here are some examples of how brands can use the metaverse to promote themselves:
Characters and virtual real estate
It’s understandable to wonder if companies can own virtual real estate and have brand characters in the metaverse. Here’s how it could work: World of Virtual Reality, a company can buy the VR world for their specialty and incorporate a storefront/experience center that consumers can visit and purchase, as well as an exercise space where people can compare items side by side. Many companies have built branded personas and locations, as well as replicated their services, in the virtual world. Interestingly, the ad seamlessly blended into the environment.
Avatars in the Metaverse
When you first started using the internet, you probably encountered avatars. They are virtual representations of our physical identities and can provide a great chance for the advertising industry to establish its presence in the metaverse. Avatars are a core component of the Metaverse, and they would be crucial in a variety of Metaverse advertising use cases. Once you are able to fully immerse yourself in a world using your holographic glasses, your avatar will be the first “connection” you can wear and feel. Brand avatars, one of the most engaging and engaging methods to advertise a business, would play an important role in enhancing the look of your avatar. In the future, companies could offer their new collections to customers virtually before release. It’s easy to see the double benefit of having avatars as tools for customers to evaluate things.
Massive Interactive Live Events (MILE)
Massive Interactive Live Events, or MILE, use a single simulation to bring together a large number of participants on a single platform. Events are the next big thing that will provide marketing opportunities in the Metaverse. The power of live events is already used by many companies, but it has the potential to be taken to a whole new level in the metaverse. Events can be used to generate interest in a product, market new products or services, and train employees. Advertisers looking to grab the attention of a large audience can use events to generate interest in new items that will be offered at a later date.
Diversity and Inclusion
Finally, the most essential element influencing the chances of metaverse advertising examples would be inclusion and diversity. These features are essential for the adoption of the metaverse, as they not only offer a chance to attract more users to the systems, but also allow users to better understand who they are and how they interact with other users. As part of a larger campaign to promote the benefits of the Metaverse to current users, these features should be reinforced with advertising opportunities. The metaverse, on the other hand, can allow companies to overcome these barriers by allowing customers to build their own experiences. Brands can seamlessly enter consumers’ metaverse experiences, making them feel connected.
In the end, the metaverse provides a unique marketing platform. If the advertising industry can create an atmosphere in which people can interact with brands, it will make their communications more real. This can lead to increased development of retail and other businesses, as well as more interactions with customers when they are on-site. Brands can reach global audiences for advertising purposes using SL avatars and user-generated content. Although the structure of SL and OS projects is not as important in consumer advertising as it is in video or social media, the metaverse is a perfect place for the advertising industry to experiment with new advertising strategies and concepts.
However, each new marketing channel or technology has its own set of obstacles. Therefore, extreme caution should be exercised when it comes to metaverse advertising.
(About the Author: Arun Fernandes is the Founder and CEO of Hotstuff Medialabs)