Instagram’s reign as a sales channel is under serious threat from its brand, the Metaverse. And it is that there are already many brands that are present on this platform offering a wide variety of products, from plots of land, clothing, accessories, or digital art, thanks to NFTs.
How To Advertise In The Metaverse
But if there is something that we from marketing want to know in-depth, it is: How to advertise successfully in the Metaverse?
We propose three differentiated lines:
- The first and product-focused use of the WOW effect in the physical world. Through augmented reality, we can see the product’s properties, visualize it on another scale, manipulate it and investigate it to compare it with other options. If we are dealing with a service, we can immerse ourselves in the experience and benefits, directly attacking the user’s needs to solve and the doubts he wants to answer.
- The second line lies in the product placement. That is, we will place our brand and, above all, our values in the Metaverse. In this way, we can dress our avatars with our product, place subliminal advertising along a route, or, just like on a day-to-day basis, use advertising banners to promote ourselves. We can be a display that adds value to the client’s virtual experience, create our events, and sponsor environments that our clients will visit.
- Third and last, we have the possibility of being acquired as a unique product or brand, that is, exclusivity thanks to Non-Fungible Tokens (NFT), due to the support of the blockchain. Thanks to this, we have a follow-up of the true owner of the asset. This last line can be combined with the previous ones as long as we are clear about our strategy.
What Barriers Do We Find To Selling In The Metaverse
One of the main barriers in this new emerging marketing is the means of payment; While we can continue to talk about fiat currency (based on the belief of the community and the value established by the markets), we cannot leave behind the cryptocurrencies that are so much talked about today. These have a wide range, and their value is always associated with the dollar, so standardization of currencies and assets and backing it with NFTs will be the next step in the Metaverse and everything that entails in the coming years.
The Metaverse Is More Than A Fad
In recent months we have seen much news related to the Metaverse in the media using terms such as “a new world” or “a near future.” So much so that Facebook itself has changed its name to become known as Meta, giving greater visibility to the new brand. This article does not intend to talk about trends but about a revolution that goes beyond a virtual social network or video games. We are talking about multiple sectors: marketing, industrial, education, art, and experiences, retail. In this new world, the physical world is intended to converge with the virtual world. Today, we have technologies advancing by leaps and bounds and providing realism and synchrony in amazing experiences.
For this, we need the union of hardware and software. Concerning the first, we have seen failures such as Google glasses, great potentials such as Microsoft’s Hololens 2, and, finally, Meta’s Quest 2 that democratize access with cheaper prices and that they can be a key element in the market penetration of this new environment. We have a very wide catalog of platforms if we talk about software. Some are already well known as video games, which have recently shown social meeting points, with the Ariana Grande concert in Fortnite being the best example.
The Next Steps Of The Metaverse
We seem to have all the ingredients to create a good recipe. Still, we are missing two very complicated steps, interoperability between different media and continuity between video games, social experiences, and the real world. Accessing the Metaverse from any platform, any device, and with the technology you prefer will be the next barrier to overcome.
In this line, several platforms begin to be less strict in terms of exclusivity since the pure Metaverse will be a decentralized space, using blockchain technologies and governed by each of its users. In this attempt at continuity between platforms, Meta has opened the possibility of using their avatars to connect between different worlds, again with their intention to position themselves in this paradigm.