70% of large companies will be in the metaverse in 2027. These are some strategies that are already being used to land in it.
The metaverse it is already a reality. There are many companies that decide to invest in marketing campaigns within this virtual world. Even companies as big as Gucci or Coca-Cola already have their own advertising campaigns. In fact, according to estimates from Bloomberg Intelligence, the metaverse has a market value of about 500,000 million euros and the same study calculates that it will exceed 2 trillion euros by the end of 2030.
“Many consumers still believe that virtual reality is only for gaming. Nevertheless, There are already many manufacturers who want to apply this technology to their new shopping habitsfor example with exclusive showrooms for the metaverse or physical clothing collections that have their echo in the virtual world,” he says. Davide GazzardiMarketing Strategist of XChannel.
The retail market, one of the most sold within e-commerce, is being one of the first to establish itself within the metaverse. So much so, that according to Baufest, 70% of the large companies in this sector will be in this virtual world by 2027. One of these big brands, Gucci already offers experiences in the metaverse by selling luxury accessories for digital avatars on Roblox.
7 cases of marketing strategies applied to the metaverse
In the current market environment characterized by enormous competitiveness, companies are looking for ways to innovate and face the new challenges that digitization entails. A very good way to adding value is delving into the metaverse that provides infinite possibilities such as interactive experiences, virtual worlds or augmented reality to promote your products and services.
XChannel, consulting firm specializing in marketing cross channelhas compiled a list of cases of marketing strategies applied to the metaverse:
- Interactive events: The calls MILE (Massive Interactive Live Events) They are an opportunity to bring together thousands and even millions of people from all over the world in the same event without the need for a physical space. Some artists like Ariana Grande, Travis Scott or Eminem have already performed concerts in the metaverse. This type of event has also been used by companies to hold congresses or fairs in which to present their products to thousands of people simultaneously.
- Influencer marketing: There are even digital influencers. They are avatars that only live the metaverse. Two very clear cases are the virtual celebrities Lil Miquela, who was included in Time magazine as one of the most influential “people” on the Internet, and Shudu, a digital model who is the image of fashion and luxury brands.
- Positioning strategies: SEO and SEM will have their continuity in the metaverse with visual positioning. The so-called visual search is a content search modality where images are used instead of texts. In this way, through a photograph, screenshot or image, the visual search engine will take you to related content.
- virtual games: Advergaming has crossed the mobile screen to reach virtual reality screens. Advertising campaigns have been created in Roblox, a game exclusive to the metaverse, such as the American Eagle that appeared in a certain area of the game.
- promotional codes: Here the digital world is integrated with the physical world, discount codes are created that can be exchanged ‘on the other side’. An example is the delivery company, Deliveroo, which distributed food, on riders, in the Animal Crossing video game and also gave away discount codes to users who had interacted with them within the game.
- New forms of payment: In the metaverse it allows you to pay with other types of money, such as virtual coins, which are stored in wallets and they have their own value. If the company is very clear about the value and cost of these coins, it is an option to expand the business and sell directly through the metaverse.
- D-commerce strategies: Decentralized commerce allows access to prices, supply and demand and even buy products without any location and without having to go to any physical site. In the metaverse, services and products can be purchased directly from within without having to be redirected to a standard purchase platform.