In the 21st Century, where technology has grabbed almost every other industry and sphere of human life, it is pretty impossible not to hear the word ‘Metaverse.’ Metaverse is a new version of the internet that creates a digital replica of our world that exists parallelly with our natural world. It is not a concept that suddenly comes into existence. The term was coined almost two decades ago, in 1992 by Neal Stephenson in his novel Snow Crash. But to date majority of people have no proper idea of what is Metaverse and what is its use.
Metaverse is a 3D virtual space connecting multiple platforms using VR (Virtual Reality), AR (Augmented Reality), and Blockchain. Metaverse combines these things to create a replica of our real world, like our existing internet. Though this technology has not yet developed properly, investors consider it the future of the world technology and invest large sums to grow this technology faster.
Video game companies first adopt Metaverse. Roblox, Epic Games, Microsoft, Nvidia, and many other famous companies have accepted Metaverse and used them in their video games. The reason is not that they are 3D games, but nowadays, video games have reached a new height where players can participate in online events and concerts in the game, and it is only possible because of the 3D space that Metaverse offers. For example, in Fortnite, more than 10 million people attended Travis Scott’s in-game concert using Metaverse.
Now, if we come to our primary discussion topic – Metaverse as the new way in Digital Marketing; it is impossible to state it in one or two words. Though it is still in its infancy, there is no doubt that Metaverse is a powerful technology. As it grows more and more popular, marketers will become interested in this technology. Using this new technology, it’ll be easier for them to create a one-to-one connection with the customers through AR and VR. In this era of Pandemic, it’ll be their primary tool to create a customized experience for the customers, which will satisfy the customers on the one hand and promote the brand name on the other. The touchless interaction is also maintained if you do marketing like this.
Let’s discuss how digital marketing can be improved through Metaverse
Improves Data to speed up the Growth
If the Digital Marketing Agencies use Metaverse, it’ll be easier for them to collect accurate data to promote their product on Metaverse and off-Metaverse. Metaverse is a purely data-driven technology that will collect a considerable amount of data every time a customer interacts. This collected data will help the marketers to change their promotion strategy accordingly. It will support the growth of the marketing.
It is the main benefit of Metaverse marketing. Metaverse combines several platforms including online, public, private, closed, and open platforms and networks. With this ability, Metaverse can become a game-changer in the digital marketing industry as it will target audiences across platforms.
Create Space for Experiments
The Metaverse is not yet a fully developed technology, and we are not sure of the scopes of the Metaverse yet. Therefore, there will be the space to try new things, and experiments will help the marketers to improve and optimize the marketing variables, which is the key to the growth of Digital Marketing. Also, it’ll create a good opportunity for the new brands to capture the market.
Engagement plays a vital role in digital marketing, and according to the data, our youth spends a lot of money and time on online gadgets, especially on virtual gadgets. This is where Metaverse becomes the gamechanger. On Metaverse, the engagement rate is really high, and it will become the best way to promote products. If the Digital Marketing Agencies can create a virtual world for the customers in the Metaverse, they can increase customer engagement, promoting the product more effectively.
Metaverse uses VR and AR to create virtual experiences, and if the marketers can promote 3D content through Metaverse, it will lead to the growth of digital marketing. The entire search engine system can be replaced by visual search, image processing, etc. The audience also has the chance to enter a website and have a one-to-one interaction with the virtual avatars of the reviewers. This will make things more customized and increase the reliability of the brand.
Undoubtedly, the Metaverse is a ground-breaking technology, though it is still in its infancy, and there are still a lot of things to explore in the world of the Metaverse. However, if you consider it as a business strategy, it’ll be beneficial and profitable. It helps you experiment with your promotion strategies and provide enough data to understand and change your marketing strategies accordingly. Most importantly, personalized one-to-one interaction with the consumers improves the brand’s engagement and reliability. On Metaverse, there are endless opportunities to experiment and create innovative content to attract the audience.