How Brands Can Shape the Metaverse to their Advantage?
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Metaverse is at the stage of molding. It has not been yet shaped into its final form. This gives business the opportunity to model it. Considering the fact that it is a swiftly developing medium, this possibility should not be taken for granted. Therefore, this article will focus on brand building in Metaverse. Read to discover how to seize this opportunity.
Brand and Metaverse – How to combine them?
The topic of brand and Metaverse is not simple. The platform itself is quite complex and contains different worlds visited by numerous, unique users. Yet, it has still not been overly explored, which gives companies an edge – fewer competitors. Therefore, brand building in the Metaverse is not as difficult as it seems.
There are easy-to-exercise channels that might be used to increase brand awareness on this platform. The Metaverse and NFTs are one of them. These virtual goods are a symbol of identity and fashion in the VR world. As such, they are the ideal tools for promotion.
Brand marketing in the Metaverse can be done by introducing NFT items representing those in the real world. If done correctly, it will raise brand awareness, encourage customers to purchase a company’s products offline, but also earn additional revenue through NFT sales. If combined with the second option presented in this article, it makes for a successful brand strategy.
The alternative or additional tactic that may be used to shape the Metaverse to the needs of a business is organizing events in the most popular metaverses. These, right now, are still fairly empty. Therefore, any engaging attractions are bound to become popular. With a thoughtful plan, a business might gain numerous new customers within a matter of hours.
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Brand building in Metaverse – what are its benefits
Having explained how to use Metaverse to increase brand awareness, now it is time to discuss the benefits of such a strategy. These include:
- Reaching to new clients – The users of Metaverse are usually members of the younger generation, with Gen Z being the most dominant. Thus, if a business desires to reach out to this demographic, it can do so through the Metaverse.
- Maintaining engagement – The social platform is excellent for maintaining a long-lasting connection with consumers. Creating new NFTs, organizing regular events, or even Q&A sessions inside Metaverse, may significantly increase the commitment of potential clients. Building relationship with customers is crucial for marketing and sales, thus one of the advantages of Metaverse brand marketing is that it augments this process.
How do big brands shape the Metaverse? Use cases
Since brands and Metaverse are a beneficial combination, several large companies have already implemented such strategies. Here we will present an overview of some of them.
Coca-Cola
The American beverage producer has already started promoting its brand in Metaverse in 2021. It began with simple strategies – selling a limited number of brand NFTs, such as a bubble jacket to wear on avatars, a sound visualizer or a cooler to put into a Metaverse apartment. Yet, the company did not stop at that.
While promoting their new, limited edition of Coca-Cola Zero Sugar Byte, the brand has begun with distributing the flavor in the Metaverse, along with creating related minigames. Only then did they launch their product in real-life. The audience was encouraged to “try” the new flavor online, and the product itself was then referred to as a one that will “bring the flavor of pixels to life”.
H&M
The popular fashion brand and Metaverse are closely connected since 2022. In that year, the clothes-selling chain opened a virtual showroom in which the users could view the new collections. It was just their first step, and the company boldly declares that they are bound to explore this new channel deeper. Thus, it is possible to expect virtual fitting rooms and more events in the future.
Conclusions
Brands can shape the Metaverse for numerous advantages. Organizing events in the VR and distributing brand-related NFTs is a way to enhance customer engagement and create strong relationships with the target audience. Therefore, numerous brands have already introduced their own marketing strategies in the Metaverse, which paved the way for other businesses.
You might also read: How The Metaverse Could Enhance E-Commerce
How can brands combine their presence with the Metaverse?
Brands can effectively combine their presence with the Metaverse by leveraging channels such as NFTs (Non-Fungible Tokens) and organizing events within popular metaverses. These strategies help increase brand awareness, engage with the target audience, and generate additional revenue through virtual asset sales.
What are some benefits of brand building in the Metaverse?
Brand building in the Metaverse offers several benefits, including reaching a younger demographic, such as Gen Z, maintaining long-lasting customer engagement, and fostering stronger relationships with potential clients.
What role do NFTs play in brand marketing within the Metaverse?
NFTs play a significant role in brand marketing within the Metaverse. They serve as virtual representations of real-world brand-related items or experiences, allowing businesses to increase brand awareness, drive offline product sales, and generate revenue through NFT sales.
Unlock the future with Mazer: Your innovation partner.
Author: Rafał Siejca
Rafal has over twenty years of corporate experience, including roles at Millennium Bank, Comarch, and leading software teams at PZU, one of Europe’s largest insurance companies.As one of Poland’s few true VR experts with a decade of experience, he ensures timely, high-quality project delivery as CEO and CTO.
