The metaverse is the next great revolution in computing.
This concept of the future of the internet promises to bring the physical world together with new technologies that are only starting to transform the way people interact with one another, amuse themselves, go shopping and engage in other everyday activities.
However, it also opens up a new platform for businesses to advertise and here are five reasons why.
New Billboard Ads
Brands would merely erect digital billboards in the metaverse. The template for such advertising is in games like Tiki-Taka Soccer and FIFA Mobile, in which billboards for brands both increase awareness and, if the visitor is interested, lead to more information about the product.
It’s going to be very similar to what we have today in the real world. There will be systems within the metaverse that let you produce and publish assets.
In the same way that we have billboards on the side of the road or home signage, brands will still be able to buy these types of placements within a Metaverse environment or a 3D environment.
If a major financial services company like Citibank wanted to set up a stand to teach financial education in the metaverse, it can. But in a virtual world, the brand might have better luck partnering with an influencer.
No More Cookies
A significant opportunity for the metaverse to be privacy-compliant comes with the impending deprecation of cookies.
Google now plans to phase out the tracking mechanism by 2023, a time that will likely coincide with the fundamental development of the metaverse given the technology is still years away from fulfillment.
What this means for brands is that the metaverse could be an incubator for safer tracking methods, such as contextual marketing, because cookies will no longer exist as an option.
Community And Consent
In previous digital marketing efforts, brands have learned that prioritizing the user community in its approach helps to build trust on the platform.
On TikTok, for example, brands have seen success through "community-based commerce," which increases engagement via marketing that looks and feels like organic content.
In the metaverse, brands should similarly welcome users into their decision-making processes.
By bringing the conversation of decision-making to the community and letting them decide is the way to approach the metaverse.
It's a very different experience when you're actually interacting with the brand, wearing the items, walking through the spaces that are designed and co-created with people that you respect and know from the platform.
Like community, consent is another idea that has become increasingly top-of-mind for brands looking to build trust in digital spaces.
No Boundaries
Metaverses are fascinating and have an untapped audience source. VR advertisements in metaverses can be a great way of raising revenues.
Advertisement categories like gaming, events, travel, luxury, and tech take the lead in dissolving the boundaries between physical and digital/virtual realms.
However, metaverse has no limits. For instance, if you have a music band, you can try gigs in a metaverse, release your album teaser in there, and invite your audience to a real-life launch.
You can open a cloth store in the metaverse, let the avatars try on clothes and allow them to place real-world orders.
The Metaverse presents a unique opportunity to build from the ground up. Advertisers and technology providers should start anticipating how the Metaverse may operate and allow it to become the new advertising platform.
Technology Boost
Hardware is becoming more compact, quicker, and more intelligent. Thanks to 5G, almost everywhere now has fast, dependable connectivity.
In the metaverse, computer vision is becoming more intelligent, allowing for both visual and audible help. All of this contributes to the immersion of the experience, making the transfer of knowledge and experience more rewarding and human.
Much like the internet and mobile technology were major transformations and major technical ages, now we're about to hit a virtual age which is where Metaverse comes in.
This is essential for businesses that want to put their customers first. And the metaverse is rapidly becoming the focal center of all of this activity.