Decoding Marketing 3.0: The wonderland of Metaverse

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A digital pair of Gucci shoes, of course, that may be personally possessed, and finally, a digital drink, not tasted but certainly experienced.

Marketing is on the verge of yet another time-defining shift, this one both physical and virtual. But, are marketers prepared, are brands prepared, and are we prepared?

Metaverse, an online 3D virtual realm that operates and behaves eerily like the actual world, is the next big thing for all companies, large and small.

While some are utilising it to throw extravagant immersive parties and events, others have taken it a step further and utilised it as a platform to launch digital avatars of specifically curated items.

The first glimpses of the Metaverse’s way of life that have been revealed are quite promising.

Because of their extensive acclimatisation to video-game experiences, the targeted audience in the young consumer develops an initial liking for the augmented reality flavours that the Metaverse gives.

The new buyer values independence enjoys the convenience of accessing products and services from the comfort of their own home, and embraces the limitlessness of the virtual world – these will be Metaverse’s USPs.

The Metaverse’s expansiveness creates an open playground for businesses to disrupt the market with new inventive ways of branding, expand their reach to a far larger audience, and experiment with new and imaginative ways of purchasing and selling. That is not the case.

The Metaverse is set to open doors to a never-before-imagined immersive environment where it’s all not physical, but real, with the inclusion of elements that enable the user to experience life-like sensations of touch, feel, or even kissing through vibrations and haptic sensing.

After all, who doesn’t want to be a part of a parallel universe? Every new game has its own set of rules. That is what distinguishes it and makes it significant. A set of regulations that fit with the game’s final aim, or purpose. The same will and should/does apply to Metaverse’s marketing ecology.

Imagine yourself at a shopping mall; you enter the building and walk into a well-organized space designed to serve the buyer/customer who walks in.

Marketing in the hyper-connected world of the Metaverse may require a similar re-fashioning to serve its function effectively in the new environment.

To summarise, while a fully-fledged Metaverse is still a risk the world is willing to take, its seeds have taken on a very tangible shape in the present. Promising a future that is not separate from, but rather an extension of, our current reality.

The Metaverse will alter marketing practices, but the full extent of its influence and intensity is yet to be seen.

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