The world is changing at a tremendous speed, presenting more opportunities and ways for development. It has become common practice for many entrepreneurs to grow their business in the digital space, invest big budgets in Instagram advertising campaigns, buy Twitter followers or interact with TikTok bloggers. In the near years, digital marketing will be transformed: the trend of social media will gradually fade away and people will adapt their professional activities to the Metaverse.
What is a Metaverse?
The Metaverse is an artificially created world in which different people can create their avatars and interact with digital objects. Projects in which there is a Metaverse have already been implemented. These are games, applications for work interaction. For example, people can put on special helmets and find themselves in the office or meeting room. There are many tools with which they can make presentations, fill in documents, etc. This provides a complete presence effect and it's much more efficient than Zoom calls.
The Metaverse will not be tied to a specific Internet resource. For example, now to set up an advertising cabinet on Instagram, you need a Facebook account. Everything is tied to each other and in some moments it is problematic. In the Metaverse, all your achievements in the virtual space will not be tied to anything and will remain with you even if your Facebook account is blocked.
The Metaverse is developed not only in the format of work but fitness and other sports, content consumption, games, etc.
What opportunities does the Metaverse open up for promotion?
For marketing, this new trend gives an incredible perspective.
First, companies will create a branding space. Now, brands are creating large spaces for the cultural life that will move into the Metaverse. It’s going to be a place for invitation the artists, workshops, etc.
Secondly, deep targeting will become available. There is a huge amount of additional data about the person: where the person spends time and how much, whether he is an observer or an active participant, what format he works in, etc. Based on this, it will be possible to configure advertising in a new way.
Thirdly, it will be a huge space for sales. There will be their own formats of stores and marketplaces and users will have the opportunity to test virtual copies of the products. Opportunities for the sale of large products will arise. The seller can offer a person the experience of living in a new apartment. It's not just a virtual tour, but a person can stay there for a while, generate ideas on how to furnish it, etc. Similarly, travel agencies may offer the opportunity to try the experience of rest in a particular hotel. A person can walk along a particular coast, see its features and then make a decision.
How will a personal brand be formed in the Metaverse?
The main task of the entrepreneur is to keep an eye on where the audience's attention is directed. In this direction, there are great financial opportunities. Now people focus their attention on virtual reality, NFT, cryptocurrency, so in the near future, the promotion of businesses in the Metaverse will be a competitive advantage and then a necessity.
The speed of decision-making will play a key role. For example, it used to be very easy to enter social networks and there was enough quality content. In modern times, the competition has become enormous, the rates have risen a lot, it has become much more difficult to gain new subscribers, and the cost of advertising has risen several times. Now, to attract the attention of the audience, it is important to create social proof and buy real Twitter followers, Instagram likes, TikTok views. For financial results, it's necessary to constantly run targeted advertisements and do mutual PR.
In Metaverse will be the same algorithm of development: who will be the first, it will be easier to enter, with less effort and financial investment. As the number of personal brands in the Metaverse increases, the entry threshold will become more and more difficult.
To sum up, all the giant companies are interested in this new technology and are actively working in the current direction. This is a long-term project that will fully blossom within a few years, replacing the current format of social networks, and becoming a mainstream format of online interaction. It is important to look at such technologies before they are fully launched to be among the first and to get the maximum effect.