How can brands market their product in Metaverse
We’re living in a golden age of virtual reality, augmented reality, and artificial intelligence. This enables brands to market their products much better than before. Marketing by virtual event platform means can offer a more cost-effective method for brands looking to reach audiences outside their physical locale. With the emergence of platforms such as Fortnite and Roblox taking advantage of this, it’s becoming more feasible than ever for brands to be not just a part of the conversation but leading it with new forms of advertising through immersive activities.
What is Metaverse?
The Metaverse is a term that refers to the concept of connecting physical and digital objects in a virtual space. Essentially, it helps us live outside the bounds of our earthly existence. It’s a revolutionary concept because it helps bring people closer together more effectively than ever.
A metaverse has many uses in marketing and business, but the most prominent one is advertising. If you want to know how to use metaverse marketing to build your brand and make money behind it, continue reading the information below.
5 Ways to Market Products in the Metaverse
Metaverse marketing is a new-age concept that allows brands to sell more than physical products, creating an immersive and engaging experience for their target audience.
The following are some of the ways brands can promote or sell their products in the metaverse.
1. Create Gamification Experience
Games will be a prime aspect of the Metaverse. As a brand, you have an opportunity to increase your presence and engagement through games. There are several ways to use games to build your brand presence – giving away physical rewards for playing games, providing rewards when avatars wear certain brands of clothing, and even implementing digital goods sales by selling virtual apparel items on a virtual marketplace.
2. Product Development Demo
In the world of e-commerce, product demo brings the power of virtual reality to one’s doorstep. Product development showcases in the Metaverse offer a new experience for global consumers. The 360-degree experience allows shoppers to visualize the products in 3D before making a purchase, which means they can learn more about the product and better understand its features. This translates to higher conversion rates and an exciting experience for customers.
3. Create a Community of Consumers & Influencers
Brands should create influencer communities, where these influencers can engage with customers across the globe under one metaphorical roof within the Metaverse. Their recommendations act as social evidence for your brand’s potential customers. For example, Prada announced its own virtual influencer ambassador, Candy, to relaunch their Prada Candy fragrance in their ReThink Reality campaign 2021.
4. Build Loyalty in the Metaverse
Brands should create loyalty programs in the metaverse where you can offer discounts or some rewards to audiences that not only engage them with your brand but also increase sales of your product in the real world. Don’t just focus on how you will get customers to buy your products – focus on engaging customers with your brand in the first place. Ensures that you get your customers to the next level by offering them immersive digital experience, unique content and other rewards that draw them back again and again.
5. Leverage Virtual Properties
Leveraging the influence of big influencers will help you raise your digital presence in the metaverse. If influencers have bought virtual land, brands can buy digital hoardings within influencer’s metaverse and also some brand integration.
Metaverse is the new marketplace therefore brands should start using it to promote or sell their products. Brands can extend to any location, product or even to the metaverse itself. In other words, if you have a project that involves a set of virtual properties — a product or service — then essentially ‘your’ Metaverse becomes your new shop front. In this regard, businesses can raise brand awareness and sell products as well as provide users with massive experiences using their digital assets.
There are few of Metaverse enablement companies in India such as OneRare, Almond Virtex, and LOKA that are using Metaverse platform to market their products and to increase brand visibility.