With Generation Z dominating the metaverse, we cannot underestimate their value as consumers.
After the pandemic, digital addiction has transformed consumer behavior, as more and more people are shopping, working, playing and learning online. This also gives a boost to technologies like Metaverse. Known for blurring the line between physical reality and virtual reality, it is about to change the way we experience the world. At this point, everyone knows about Metaverse, but if you still don’t know, then here’s a primer - it’s a hypothetical iteration of the Internet as a unique, universal, captivating virtual world that is facilitated by the use of virtual reality and augmented reality. headphones. For companies, Metaverse provides an opportunity to reach new audiences, improve consumer confidence, and explore potential revenue streams. Roboblox, in the first place, has 200 million active users, who spent $ 319 million on the game currency in the second quarter of 2020 alone. Remarkably, 67% of the demographics of the online gaming platform fall below the age of 16. This article shows you how to use Metaverse for marketing and how to make money from it.
With Generation Z dominating the metaverse, we cannot underestimate their value as consumers. In the US, they have a spending power of 143 billion dollars, and experts predict that it will exceed that of millennia and boomers by 2030.
How will Metaverse affect the future of marketing?
Metaverse is ready to offer a new path to marketing strategies and amazing opportunities to explore the virtual world. As the number of virtual conversations increases exponentially, there are more opportunities for brands to not only be part of the conversation, but to lead it, using a variety of virtual marketing techniques.
As top brands such as Nike, Facebook and Gucci continue to fit into the current Metaverse, using gaming platforms like Fortnite and Roboblox to create captivating forms of advertising and modern forms of viral awareness of the brand, the sky is clear. the limit for smart marketers. the block. So how do you get started?
Insert yourself natively into the platform
Let’s just accept that marketing is not a child’s play. While the five-second ad at the beginning of a YouTube video can stop people, it can become annoying. But that’s not the case with Metaverse and virtual reality. You will have more and better opportunities to advertise yourself and your services.
Using in-game native advertising is one way to do this. Coca-Cola, Samsung and Volkswagen all have virtual panels in video games such as Football Manager and Hyper Scape. The in-game advertising platform Bidstack revealed that these ads improved the realism of the game for 95% of the players and increased the purchase intention by 12%.
Parallel marketing in real life in the virtual environment
The transition to Metavers does not necessarily mean that you have to do everything differently. A good starting point is to replicate what you offer in real life in the parallel virtual world. It’s not just a natural way to get into metavers, it’s also a real way for users to see your brand.
An example of this is Deliveroo’s marketing campaign on Animal Crossing. The online food delivery company has deployed virtual riders in the game for multiple island-wide deliveries. Players received not only a surprise delivery on their virtual island, but also a promo code that they were able to activate in real life. In the first hour alone, the Deliveroo marketing campaign won three million in-game bets.
Similarly, introducing your real-life cause to Metaverse can increase brand engagement. Hellmann’s, a brand of mayonnaise, is committed to reducing food waste at Animal Crossing. The company has created its own virtual island and invited players to donate their spoiled virtual turnips for a cause. This helped Hellmann’s donate 50,000 meals to FareShare, a food waste charity.
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