The ever-changing dynamics of the digital landscape have made it mandatory for brands to incorporate the latest technology. Metaverse, for example, is a rapidly emerging trend that businesses can leverage to provide customers and clients with a better and more immersive brand experience.
In its true essence, the metaverse combines the internet, AR, and VR technologies, enabling individuals and businesses to interact in a shared environment of 3D virtual spaces. In the metaverse, businesses can organize events, host meetings, open up stores, and build a community. Unsure of what the metaverse really is? Click here to know everything about the metaverse.
Why Do Brands Use The Metaverse?
The metaverse is a combination of novel technologies and innovative ideas. This unique virtual space allows businesses and individuals to participate in a plethora of tasks and activities, enabling them to form genuine connections. Brands can leverage the metaverse’s progressive technology to provide customers with an optimal experience. In the metaverse, businesses can:
1. Sell Virtual Products
Brands can increase their reach and target a global audience by setting up shop in the metaverse. The metaverse is a virtual space that mimics reality, allowing businesses to purchase or lease properties, which can be used to sell virtual products. Essentially, you can market virtual versions of tangible goods, sell upgrades, or provide a service within the metaverse. This initiative will not only help you cut manufacturing, transportation, and storage costs but you can also introduce your offerings to a larger customer base.
2. Boost Engagement
No matter what industry you are operating in, you need to build a connection with your audience to increase brand loyalty. The metaverse provides the perfect opportunity to build a community with your target demographics.
For instance, you can host a virtual event in the metaverse through a virtual events agency to educate the audience about your products, services, or industry. You can use the virtual events to launch a new product, provide a tutorial, host online exhibitions, or spread awareness about a cause important to your brand. Since the metaverse provides access to an international audience, you can widen your reach without hiking up costs.
3. Design a Venture
The metaverse transforms customer experience into a journey. You can harness metaverse’s technology to launch ingenious marketing campaigns that play off of the products and services your brand offers in the real world. For instance, you can design infrastructures, integrate gamification to create battlefields, or build life-like stores to take your customers on a journey.
Marketing and Branding Opportunities
Let us have a look at some of the most renowned businesses that have taken advantage of the virtual realm to provide a superior customer experience unlocking numerous marketing and branding opportunities
Virtual Gucci Garden in the Roblox Metaverse
Gucci took advantage of the metaverse to make statements with their fashion exhibit. The Roblox version was initiated simultaneously with the launch of the House of Gucci Garden Archetypes.
However, the online event allowed users to make an entry by taking shape of a genderless humanoid, which absorbed different components of the archetypes as users explored the various mannequins.
Essentially, the visitors retained the characteristics of the visited archetypes, creating a unique final product. The idea of the exhibit was to prove that people start off as a blank canvas and shape their personality from their surroundings while still maintaining their individuality.
Benetton, an Italian fashion brand, has also used the metaverse to promote sales in their physical stores. Instead of opening a shop in the virtual realm, the brand empowers customers to partake in gaming experiences to acquire QR codes. The codes can then be used to shop in the brand’s physical store.
JP Morgan Chase and Decentraland
JP Morgan Chase, one of the world’s largest banks, is also harnessing the metaverse platform by creating a lounge in Decentraland known as The Onyx. The organization firmly believes that the metaverse’s market opportunities will exceed over one trillion USD in annual revenues.
Similarly, you can build your enterprise on our metaverse platform HoloFair, an immersive platform for users to interact and connect through real-time avatars. Our 24/7 live web accessed platform, helps enterprises to create a unique story-telling and customer journey experience in the world of the metaverse.
Summary: Is Metaverse The Future For Brands?
The metaverse is growing at a rapid pace. Many renowned businesses have already invested in the digital space and have leveraged the numerous opportunities it offers to rise above the competition. In the metaverse, there are no limits. Therefore, brands are combining creativity and research to deliver state-of-the-art experiences that surpass expectations.
To get started with launching your enterprise in the metaverse. Contact us today!