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2021 saw an increased focus in the metaverse, and businesses are only going to increase their focus as the technology increases. Predictions out there state that the Metaverse could reach the $800 billion mark by 2024, as it is already sitting at the $47 billion mark thanks to a surge of interest in 2020 when the pandemic peaked. When it comes to your business's marketing, you must ensure that you are up to date and have an understanding of what the Metaverse can do for your company. Here are several ways to help your business prepare for brand incorporation into the Metaverse. 
Clever Ways to Highlight Your Understanding of the Metaverse When it Comes to Marketing

Insert Yourself Within the Platform
Inserting your business into the platform allows you to engage with consumers without disrupting their experience. Using native in-game advertising is one way of doing this. Coca-Cola is one company that is already taking advantage of advertising in the Metaverse. They have virtual billboards within video games like Football Manager and Hyper Scape. When it comes to which platform you choose to market in the Metaverse consider the following,
● Who your target audience is
● Choose the right platform
● Select the right format (billboards, video, music, banner ads, etc.)

Parallel Real-Life Marketing in the Virtual World
Transitioning into the metaverse does not mean that your company must do everything differently. An excellent place to start is to reproduce what you provide in real life in a parallel virtual environment. It is not only a natural way to enter the metaverse, but it is also a genuine way for consumers to recognize your brand.

Introducing your real-life company into the metaverse can help to increase brand engagement and awareness. It is extremely critical that your company has a way of standing out among competitors and allowing customers to fully know and understand your brand.

Establish a Virtual Venue
Going digital should not prevent you from creating a store. A virtual 3D store, museum, or island may help you establish your presence in the metaverse and form deep emotional bonds with your consumers. Tours, virtual try-on or try-outs, and interactive 3D product exhibitions are also options.

Create Immersive Experiences
One of the most essential drivers of client engagement is experiential marketing. According to studies, companies that focus on creating experiences get 25% more brand loyalty than those that do not. Providing an immersive experience forces people to step outside of their comfort zone. This can influence their perception of your brand and help you form long-lasting ties with them.

Your company can create immersive experiences such as:

● Live virtual concerts. Back in 2021, Fortnite hosted a Travis Scott virtual concert, which had 12.3 million concurrent players active while the show was going on.
● Live events. This is a great way to get your brand name out there and bring awareness to individuals who may not know you.

Offer Digital Collectables
Humans have an intrinsic need to collect, and this will not alter in the metaverse. Collectibles in these virtual places make use of digital assets known as NFTs. This implies that the original owner of an item, such as digital art, music, or clothing, is encrypted and irreversible unless the owner sells it to someone else.

Allowing your consumers to buy digital collectibles is a great way to help with your engagement and brand awareness. Bundle these collectibles with a reward. Customers buy products or services because of their benefits. A unique deal would make your collectible not just more attractive but also more profitable. You can also provide the collectible as a reward. Rewarding audiences for purchasing your product gives them more reason to engage with your brand, as well as tell other people about your company.

The Metaverse market may reach $783.3 billion in 2024 vs. $478.7 billion in 2020 representing a compound annual growth rate of 13.1%, based on results. With the ever-changing advances in technology, there is no doubt that your business must take advantage of incorporating the metaverse into its marketing. If you have any questions regarding your marketing campaign or strategy, get in contact with one of our marketing experts at Marketing Eye today!
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Mellissah Smith

Mellissah Smith is a marketing expert with more than 20 years experience. Having founded and built two successful marketing companies internationally, she is well recognized as a industry thought leader and innovator. Mellissah started her career working with technology and professional services firms, primarily in marketing, public relations and investor relations, positioning a number of successful companies to list on the various Stock Exchanges around the world. She is a writer, technology developer and entrepreneur who shares her thoughts and experiences through blogs and written articles published in various media outlets. Brag sheet: #2 marketer to follow on Twitter (2003), Top 150 Marketers to Follow (2015), Top 10 innovative marketers (2014), 60K+ followers on Twitter with 97% authentic.

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