When I look at the Metaverse, I cannot help but immediately think of the film ready player one, where people can put on a headset and become completely different. When watching the movie, You can see many product placements from businesses such as Starbucks.
We now live in a world where this sort of online advertising will become a normality in alot of digital marketing strategies. The Metaverse was announced in the late months of 2021. It got me thinking about how businesses can use it for advertising products to potential consumers and use this new technology to improve their customers' experience. Companies can hold social events, meetings and support sessions in a virtual world where consumers don't even have to leave the house. It gives businesses more opportunities to create a stronger relationship with their consumers.
Looking at how products can be advertised in the Metaverse, we know that games and content will be added. These are some of the opportunities brands can make the most of when promoting their products. An excellent example of this is that Gymshark has held one of the first podcasts in the Metaverse. This is a perfect example of how companies can use the Metaverse to create more consumers. Brands can make the most of the possible gaming aspect of the Metaverse. A good example is the Gucci and Roblox collaboration, where players could win or buy Gucci products for their avatar. These sorts of partnerships and advertising will become a lot more regular.
The Metaverse is also being used to help users decide on products with Hyundai starting to enter the Metaverse and have allowed customers to test drive their new concept car in a metaverse. This level of innovation shows us that the opportunities of using a metaverse are not just to advertise the product. Still, it gives brands the ability to interact with consumers. I think this is a fascinating concept and am excited to see how businesses implement this into their current digital marketing strategies.
I think that this technology will revolutionise the way that customers interact with a brand. This will give digital marketing and advertising companies a new area to develop customer engagement. This is a massive opportunity for advertising and promotion. When this becomes more viable for businesses, we could see a shift in the adversiting budget for Virtual world advertising. This technology could also change how social media functions there for how social media advertising will operate. It will be fascinating to see how digital marketing strategists adapt to this new environment.