The word “Metaverse” is made up of two parts: “Meta,” which means “beyond,” and “Verse,” which means “universe.” As its name suggests, the Metaverse is a virtual world on the internet with many different things, places, and beings. It is the combination of virtual reality, augmented reality, and the internet. Because of tools and technologies for virtual reality, the Metaverse is changing at a very fast rate.
Neil Stephenson, an American science fiction writer, came up with the phrase in his book “Snow Crash,” which came out in 1992. Mark Zuckerberg’s fantasy world, Meta, has a very different idea now than it did when he first made it. It’s an open-source network that lets people connect, interact, and look around without any limits.
Metaverse is like our world, but it is not limited by anything on Earth. It is an open platform for digital communication, sharing information, and developing creativity. It’s not surprising that so many people are interested in this unique idea; by 2021, almost 85 million people will have used AR or VR at least once a month.
What Will Metaverse Impact The Digital Marketing Industry?
This new cyberspace makes it possible for brands to interact with customers in new, immersive, and interesting ways that weren’t possible before.
One idea is to use virtual reality to let people look around at products and “try them on” before buying. This is a great way to give users experiences that feel real.
Gamification can also be used to thank customers for being loyal and to spread the message of your brand in interesting and fun ways.
A Metaverse development company lets you build a strong relationship with your customers and makes them more likely to keep coming back to your business. In fact, 60% of customers said that gamification makes them more likely to buy from a brand.
With the metaverse, there are more things that can happen. The blockchain technology can help marketers and advertisers keep track of customer data and interactions, which can take internet marketing to a whole new level.
How Will Growth Marketing and the Metaverse Work Together?
1. Data-Driven Marketing
Because it is based on data, the metaverse is a gold mine for growth marketers. The virtual world is built on data, which gives growth marketing a lot of room to work.
The tools that people use to interact in the metaverse, like VR glasses, make a lot of data. You can use data from the metaverse to promote your brand to people both on and off the metaverse.
For example, if your buyer persona uses the metaverse, you can track what they do there and use that information to reach them through traditional marketing channels.
From this point of view, the metaverse will have a huge effect on growth marketing. Even if you don’t plan to use the metaverse as a marketing platform, you can still use data from the metaverse to help your growth marketing strategy.
2. More Engagement
Growth marketing’s two most important parts, engagement and retention, can be found in the metaverse. The number of people who use the metaverse is very high.
65 percent of people in Gen Z have spent money on virtual items that can only be used in a game, according to research. This shows how much people are interested in the metaverse.
Growth marketing can be done very well on the metaverse. If you want to keep your best customers, you might want to create a virtual world where they can get hooked. This is one way brands can use the metaverse to boost engagement in any industry to a whole new level.
3. Easy Cross-Channel Marketing
Cross-channel capabilities are important for both the metaverse and growth marketing.
Mathew Ball says that one of the most important things about the metaverse is that it is made up of many different platforms, both online and offline, public and private, open and closed networks and platforms. Decentraland, The Sandbox, and Somnium Space are some of the best metaverse platforms.
So, you can market to your target audience on different platforms, such as a 3D platform and a VR platform. This makes the metaverse a game-changer because it gives you another way to communicate with your audience.
As a growth marketer, you’ll need to make sure that your audience gets the same brand-consistent experience in the virtual world. This turns out to be both hard and interesting.
4. Room For Experimentation
The metaverse is new and is still changing. No one knows how or where it will go because the rules haven’t been set yet. This means that virtual worlds are always trying new things, which is one of the most important parts of growth marketing.
Experimenting and testing help you improve and find the best way to do things in marketing. The more you test, the better, because you’ll be able to figure out what works and what doesn’t when it comes to marketing and growth in the metaverse.
Not to mention the advantage of being the first to act. While other brands are still on the fence and haven’t jumped on the metaverse bandwagon, you’ll be way ahead of your competitors if you start experimenting and optimizing your campaigns.
5. A New Type of Content
As we move toward the metaverse, new types of content like virtual and augmented realities are being made. Google says that augmented reality adds digital information and content to the real world.
Google also makes 3D experiences out of local listings and content that already exists, like images and local listings. This new content has made content marketing and inbound marketing much more interesting. Think about image processing, visual search, and other things.
The 3D content made by the metaverse has given marketers a new way to reach more people. This will have a big effect on growth marketing and inbound marketing, which depend a lot on content and search engine optimization.
You should look at it as a chance to grow your business and make money off of image SEO and 3D content.
What other trends should you look out for?
The metaverse is where a number of long-term trends meet: Facebook’s dominance, the rise of XR, gamification, and the sale of digital assets.
So, to understand the metaverse, it’s important to know what else is going on around it. In particular, NFTs are becoming very popular not only with tech people but also with brands. In fact, a number of big companies in different fields are already trying out NFTs.
Here are some ways that the most valuable brands take advantage of NFTs:
Taco Bell NFT GIFs
Taco Bell took helping a good cause to a whole new level when they sold NFT GIFs with tacos on them and gave all the money they made to the Live Mas Scholarship. By making and selling NFTs, a lot of buzz was created on social media, which was good for business.
RTFKT’s Digital Sneakers
RTFKT got a lot of attention on social media when they made it possible for people to try on their sneakers virtually on Instagram by using a filter. This helped get people excited and interested in bidding before their drop.
Gucci x Superplastic NFT
Gucci and Superplastic worked together to make a very small collection of streetwear. Gucci’s goal was to show the world that accepting new technologies doesn’t mean turning away from older ways of doing business. It’s just a new way to make the customer experience better.
From now on, marketing in the metaverse will be the norm. No matter what industry or size of business, the metaverse will have an effect on marketing and growth marketing. It’s a whole new world that connects the real world and the internet, making a lot of data, content, interactions, and other things. People are already moving to these 3D worlds, and brands will soon have to move to the metaverse to connect with their ideal customers.
And growth marketing rules might be different in the metaverse. What’s the best way to grow your business in the metaverse? No one yet knows. The only way to know is to test and try things out.
Don’t wait until it’s too late!